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Registered number: 10509128 HORBURY PROPERTY SERVICES LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
HORBURY PROPERTY SERVICES LIMITED REGISTERED NUMBER: 10509128 BALANCE SHEET AS AT 31 MAY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 7,200 |  | 9,563
Current assets |  |  |  |  |
Stocks | 5 | 85,767 |  | 21,345 |
Debtors: amounts falling due within one year | 6 | 768,829 |  | 1,129,125 |
Cash at bank and in hand |  | 321,523 |  | 254,520 |
|  | 1,176,119 |  | 1,404,990 |
Creditors: amounts falling due within one year | 7 | (2,050,415) |  | (2,274,627) |
Net current liabilities |  |  | (874,296) |  | (869,637)
Total assets less current liabilities |  |  | (867,096) |  | (860,074)
Net liabilities |  |  | (867,096) |  | (860,074)
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 100 |  | 100
Profit and loss account |  |  | (867,196) |  | (860,174)
|  |  | (867,096) |  | (860,074)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 September 2025.
T Wragg
Director
The notes on pages 2 to 8 form part of these financial statements. Page 1
HORBURY PROPERTY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
1. | General information
Horbury Property Services Limited is a private company limited by shares, incorporated in England and Wales (registered number: 10509128). Its registered office is South Grove House, South Grove, Rotherham, South Yorkshire S60 2AF. The principal activity of the company throughout the year continued to be that of property repairs and maintenance. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The company's functional and presentation currency is Pounds Sterling. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company is part of the Horbury group and receives funding from group companies as or if required. If the company did not have sufficient resources to pay its debts, funding from other group companies would be sought. In the year, the company reported a loss of £7,022 (2024: proft of £37,037), and had net liabilities of £869,096 (2024: £860,074). Included within creditors are group balances totalling £1,784,697 (2024: £1,945,600). The directors have confirmed that these balances will not be repayable within 12 months from the balance sheet date and will remain in place until such time as the company is in a position to repay them. The directors have performed an assessment of going concern at a group level including a revew of financing, forecasts and covenant compliance, and having considered these factors, they are of the view that there is a reasonable expectation the the group has adequate resources to continue in operational existence for a period of at least twelve months following the reporting date.
| 2.3 | Revenue
Revenue is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
| 2.4 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method. Page 2
HORBURY PROPERTY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2.8 | Current and deferred taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
| 2.9 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 3
HORBURY PROPERTY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025 2.Accounting policies (continued)
| 2.10 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows. The depreciation rates used are:
|  |  |  | Fixtures and fittings | - | 25% | straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
3. | Employees
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 257,551 | 224,815
| Social security costs | 53,914 | 46,336
| Cost of defined contribution scheme | 14,457 | 16,142
|  | 325,922 | 287,293
| The average monthly number of employees, including directors, during the year was 18 (2024 - 15).
Page 4
HORBURY PROPERTY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
4. | Tangible fixed assets
|  | Fixtures and fittings
|  | £
| Cost or valuation |
| At 1 June 2024 | 33,685
| Additions | 2,174
| Disposals | (4,994)
| At 31 May 2025 | 30,865
| Depreciation |
| At 1 June 2024 | 24,122
| Charge for the year on owned assets | 4,537
| Disposals | (4,994)
| At 31 May 2025 | 23,665
| Net book value |
| At 31 May 2025 | 7,200
| At 31 May 2024 | 9,563
Page 5
HORBURY PROPERTY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
5. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods | 85,767 | 21,345
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 99,235 | 183,830
| Amounts owed by group undertakings | 150,177 | 657,389
| Other debtors | 274 | -
| Prepayments and accrued income | 15,820 | 7,737
| Gross amounts owed by contract customers | 503,323 | 270,972
| Deferred taxation (Note 10) | - | 9,197
|  | 768,829 | 1,129,125
| Included in trade debtors are amounts totalling £1,147 (2024: £1,912) which are due in over one year.
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 197,986 | 255,309
| Amounts owed to group undertakings | 1,784,697 | 1,945,600
| Other taxation and social security | 23,320 | 26,628
| Other creditors | 44,412 | 47,090
|  | 2,050,415 | 2,274,627
Page 6
HORBURY PROPERTY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
8. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | 9,197
| Charged to profit or loss | (9,197)
| At end of year | -
| The deferred tax asset is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | - | 9,197
9. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2024 - 100) Ordinary shares of £1.00 each | 100 | 100
10. | Contingent liabilities
The Company's bankers hold an unlimited Composite Company Limited Multilateral Guarantee and debenture between the following group companies: Horbury Group Limited, Horbury Joinery Limited, Tubular Scaffolding Services Limited, Titan Interior Solutions Limited, T.I.S. Services Limited, South Grove House Limited, Millstone Building Limited, Magna Plant and Tool Hire Limited, Horbury Support Services Limited (formerly known as G.B.W. (Tool Hire) Limited), Horbury Property Services Limited, Titan Flooring Limited and Environ Safety Management Limited.
11. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £14,457 (2024 - £16,142). There was £2,193 (2024 - £2,479) payable to the fund at the Balance Sheet date. Page 7
HORBURY PROPERTY SERVICES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025
12. | Related party transactions
| The company has taken advantage of the exemption under paragraph 33.1A from the provisions of section 33 of FRS 102. Related party disclosures, from disclosing transaction with wholly owned subsidiary undertakings. Transactions during the year and balances at the year end with related parties are shown below:
|  | 2025 | 2024
|  | £ | £
| Management services paid to subsidiaries | (97,668) | (66,347)
| Rent payable to fellow subsidiaries | (61,800) | (60,000)
| Balances owed to group undertakings | (1,784,697) | (1,945,600)
| Balances due from group undertakings | 2,071 | 657,389
13. | Controlling party
The immediate and ultimate parent undertaking and controlling party is Horbury Group Limited, which prepares consolidated financial statements of which are available from the Companies House, Crown Way, Cardiff, CF14 3UZ. The registered office of Horbury Group Limited is South Grove House, South Grove, Rotherham, South Yorkshire, S60 2AF.
14. | Auditors' information
The auditors' report on the financial statements for the year ended 31 May 2025 was unqualified. The audit report was signed on 22 September 2025 by Andrew Irvine (Senior Statutory Auditor) on behalf of Shorts Chartered Accountants & Statutory Auditor.
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