The Hogarth Property Group Ltd - Limited company accounts 25.1

REGISTERED NUMBER: 12254765 (England and Wales)

Report of the Directors and

Unaudited

Consolidated Financial Statements

for the Year Ended 31 December 2024

for

THE HOGARTH PROPERTY GROUP LTD

Page

Company Information

1

Report of the Directors

2

Accountants' Report

3

Consolidated Profit and Loss Account

4

Consolidated Balance Sheet

5

Company Balance Sheet

7

Notes to the Consolidated Financial Statements

9

Directors:

Mr P Connolly

Mrs S C S Connolly

Registered office:

Chelsey House

Jordans Lane

Jordans

Beaconsfield

Buckinghamshire

HP9 2SW

Registered number:

12254765 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

The directors present their report with the financial statements of the company and the group for the year ended 31 December 2024.

Principal activity

The principal activity of the group in the year under review was that of property development and investment.

Directors

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Mr P Connolly

Mrs S C S Connolly

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:

Mr P Connolly - Director

29 September 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Hogarth Property Group Ltd for the year ended 31 December 2024 which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Company Balance Sheet and the related notes from the company's and the group's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of The Hogarth Property Group Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Hogarth Property Group Ltd and state those matters that we have agreed to state to the Board of Directors of The Hogarth Property Group Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the group and the company's Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Hogarth Property Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Hogarth Property Group Ltd. You consider that The Hogarth Property Group Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Hogarth Property Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

29 September 2025

Turnover

1,195,225

796,280

Cost of sales

26,181

-

Gross profit

1,221,406

796,280

Administrative expenses

(415,724

)

(202,541

)

805,682

593,739

Other operating income

(1,011,081

)

7,954,850

Operating (loss)/profit

(205,399

)

8,548,589

Interest receivable and similar income

955

167

(204,444

)

8,548,756

Interest payable and similar expenses

(1,272,009

)

(940,989

)

(Loss)/profit before taxation

(1,476,453

)

7,607,767

Tax on (loss)/profit

1,384

3,056,684

(Loss)/profit for the financial year

(1,475,069

)

10,664,451

(Loss)/profit attributable to:

Owners of the parent

(1,475,069

)

10,664,451

Fixed assets

Tangible assets

5

16,261

1,059

Investments

6

-

Investment property

7

40,062,409

39,500,000

40,078,670

39,501,059

Current assets

Debtors

8

244,925

88,656

Cash at bank

425,465

127,720

670,390

216,376

Creditors

Amounts falling due within one year

9

733,027

2,103,622

Net current liabilities

(62,637

)

(1,887,246

)

Total assets less current liabilities

40,016,033

37,613,813

Creditors

Amounts falling due after more than one
year

10

(21,012,844

)

(17,136,503

)

Provisions for liabilities

(1,212

)

(265

)

Net assets

19,001,977

20,477,045

Capital and reserves

Called up share capital

11

2

Revaluation reserve

12

19,858,907

20,924,694

Retained earnings

(856,932

)

(447,651

)

Shareholders' funds

19,001,977

20,477,045

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the group keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company and the group as at the end of each financial year and of the group's profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company and the group.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr P Connolly - Director

Fixed assets

Tangible assets

5

-

Investments

6

Investment property

7

-

6

Current assets

Debtors

8

4,643,541

6,335,476

Cash at bank

174,626

33,445

4,818,167

6,368,921

Creditors

Amounts falling due within one year

9

2,506,291

4,279,852

Net current assets

2,311,876

2,089,069

Total assets less current liabilities

2,311,882

2,089,075

Creditors

Amounts falling due after more than one
year

10

2,330,000

Net liabilities

(18,118

)

(240,925

)

Capital and reserves

Called up share capital

11

2

Retained earnings

(18,120

)

(240,927

)

Shareholders' funds

(18,118

)

(240,925

)

Company's profit/(loss) for the financial year

222,807

(265,712

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

Mr P Connolly - Director

1.	Statutory information

The Hogarth Property Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax has not been included as the company is unlikely to sell the properties individually and instead

would be selling the business as a whole.

3.	Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4.	Individual income statement

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

5.	Tangible fixed assets

Group

Fixtures

Plant and

and

machinery

fittings

Totals

£

Cost

At 1 January 2024

-

1,369

Additions

20,105

-

20,105

At 31 December 2024

20,105

1,369

21,474

Depreciation

At 1 January 2024

-

310

Charge for year

4,691

212

4,903

At 31 December 2024

4,691

522

5,213

Net book value

At 31 December 2024

15,414

847

16,261

At 31 December 2023

-

1,059

6.	Fixed asset investments

Company

Own shares

£

Cost

At 1 January 2024

and 31 December 2024

6

Net book value

At 31 December 2024

6

At 31 December 2023

6

7.	Investment property

Group

Total

£

Fair value

At 1 January 2024

39,500,000

Additions

1,628,196

Revaluations

(1,065,787

)

At 31 December 2024

40,062,409

Net book value

At 31 December 2024

40,062,409

At 31 December 2023

39,500,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2018

1,015,037

Valuation in 2019

2,153,359

Valuation in 2020

2,721,741

Valuation in 2022

6,645,176

Valuation in 2023

7,934,917

Valuation in 2024

(1,610,885

)

Cost

21,203,064

40,062,409

8.

Debtors: amounts falling due within one year

Group

Company

2024

2023

2024

2023

£

Trade debtors

5,921

9,093

10,000

-

Amounts owed by group undertakings

-

4,633,541

6,270,901

Other debtors

239,004

79,563

-

64,575

244,925

88,656

4,643,541

6,335,476

9.

Creditors: amounts falling due within one year

Group

Company

2024

2023

2024

2023

£

Trade creditors

177,741

41,216

22,456

18,158

Amounts owed to group undertakings

119,750

44,389

2,155,723

2,388,641

Taxation and social security

67,787

18,384

67,787

16,053

Other creditors

367,749

1,999,633

260,325

1,857,000

733,027

2,103,622

2,506,291

4,279,852

10.

Creditors: amounts falling due after more than one year

Group

Company

2024

2023

2024

2023

£

Bank loans

18,682,844

14,806,503

-

Other creditors

2,330,000

21,012,844

17,136,503

2,330,000

Amounts falling due in more than five years:

Group

2024

2023

£

Repayable by instalments

Bank loans more 5 yr by instal

18,682,844

14,806,503

Included in other creditors falling due after more than one year is an unsecured loan facility from the directors

amounting to £1.33m. Interest is chargeable at the rate of 15.3% per annum.

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

2

Ordinary

£1

2

12.

Reserves

Group

Revaluation

reserve

£

At 1 January 2024

20,924,694

Revaluation reserve

(1,065,787

)

At 31 December 2024

19,858,907

13.	Contingent liabilities

In the event of a property disposal, there would be a deferred tax charge that would crystallise of approximately £4,851,111.

14.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

P Connolly

Balance outstanding at start of year

64,575

(185,794

)

Amounts advanced

-

250,369

Amounts repaid

(188,269

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(123,694

)

64,575

15.	Related party disclosures

Included within other creditors due within one year is an amount of £119,750 (2023 - £44,389) due to companies in which the director has a material interest.

16.	Parent company

At 31 December 2023, the ultimate controlling parties were P Connolly and S Connolly who equally owned the entire issued share capital of the company.

The smallest and largest group financial statements that consolidate this company is The Hogarth Property

Group Limited. Copies of the group accounts are available to the public from the parent company's registered

office at Chelsey House, Jordans Lane, Jordans, Beaconsfield HP9 2SW.