REGISTERED NUMBER: 04231063 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2025

for

HOLGATE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Patel

B D Patel

R Patel

REGISTERED OFFICE:

Orchard Cottage

47 Dartford Road

Bexley

Kent

DA5 2AR

REGISTERED NUMBER:

04231063 (England and Wales)

FIXED ASSETS

Investment property

4

7,292,674

7,196,359

CURRENT ASSETS

Debtors

5

917,101

376,155

Cash at bank

8,768

8,420

925,869

384,575

CREDITORS

Amounts falling due within one year

6

1,388,105

966,595

NET CURRENT LIABILITIES

(462,236

)

(582,020

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,830,438

6,614,339

CREDITORS

Amounts falling due after more than one year

7

(2,878,590

)

(2,753,833

)

PROVISIONS FOR LIABILITIES

(625,523

)

(625,523

)

NET ASSETS

3,326,325

3,234,983

CAPITAL AND RESERVES

Called up share capital

6

6

Non-distributable reserves

1,876,566

1,876,566

Retained earnings

1,449,753

1,358,411

3,326,325

3,234,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

D Patel - Director

1.	STATUTORY INFORMATION

Holgate Properties Limited 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 Company 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Key sources of estimation uncertainty and judgements

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reported period.

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is generated via property investment, property rental and management and measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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 policy

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic Financial Assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 July 2024

7,196,359

Additions

96,315

At 30 June 2025

7,292,674

NET BOOK VALUE

At 30 June 2025

7,292,674

At 30 June 2024

7,196,359

The 2023 valuations were made by external valuers, on an open market value for existing use basis.

Cost or valuation at 30 June 2025 is represented by:

£

Valuation in 2015

1,781,910

Valuation in 2023

720,179

Cost

4,790,585

7,292,674

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

225,640

2,300

Other debtors

691,461

373,855

917,101

376,155

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

273,361

254,863

Other loans (see note 8)

242,088

166,828

Trade creditors

-

3,600

Tax

220,755

195,308

Other creditors

196,499

198,000

Deposit - Rent

10,340

10,000

Directors' current accounts

226,264

120,483

Deferred income

215,798

13,913

Accrued expenses

3,000

3,600

1,388,105

966,595

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

2,878,590

2,753,833

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

273,361

254,863

Other loans

242,088

166,828

515,449

421,691

Amounts falling due between two and five years:

Bank loans - 2-5 years

2,878,590

2,753,833

9.	SECURED DEBTS

Bank loan of £3,151,951 (2024: £3,008,696) is secured via fixed charge over all the assets of the company, except properties situated at 2 A Hook Lane, Welling,Kent, Land lying to the West of Hook Lane,Welling,Kent and Land at the rear of 21-25 Bellegrove Road,Welling, Kent.

The loan from Inspired Landing of £242,088 (2024: £NIL) is secured over a negative pledge charge on properties situated at 2 A Hook Lane, Welling,Kent, Land lying to the West of Hook Lane,Welling,Kent and Land at the rear of 21-25 Bellegrove Road,Welling, Kent.

The loan from MT Finance Ltd of £166,828 was repaid in full during the year.

10.	RELATED PARTY DISCLOSURES

Included in other creditors are the amounts of £166,500 (2024: £166,000) and £30,000 (2024: £32,000) owed by the company to Corbico Ltd to Baystate Company Ltd, These loans are interest free and payable on demand and both these companies are related by virtue of common control.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is D Patel.