Company registration number 02849761 (England and Wales)
58-59 HYDE PARK GATE FREEHOLD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2025
58-59 HYDE PARK GATE FREEHOLD LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
58-59 HYDE PARK GATE FREEHOLD LIMITED
BALANCE SHEET
AS AT
24 MARCH 2025
24 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
9,650
10,310
Current assets
Debtors
4
95,792
98,228
Creditors: amounts falling due within one year
5
(30,273)
(34,529)
Net current assets
65,519
63,699
Total assets less current liabilities
75,169
74,009
Capital and reserves
Called up share capital
6
15
15
Share premium account
18,597
18,597
Profit and loss reserves
56,557
55,397
Total equity
75,169
74,009

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 24 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered 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 10 September 2025 and are signed on its behalf by:
J A F Purchas
Director
Company Registration No. 02849761
58-59 HYDE PARK GATE FREEHOLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2025
- 2 -
1
Accounting policies
1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the collection of rents and other income under leases derived from its ownership of a freehold property.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

58-59 HYDE PARK GATE FREEHOLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Loans from shareholders
In accordance with Financial Reporting Standard 4 the loans from shareholders are stated at net proceeds, after deducting costs associated with the raising of the loans.
1.7
VAT
The company is not treated as a business for the purpose of VAT and accordingly costs are shown VAT inclusive.
1.8
Company information

58-59 Hyde Park Gate Freehold Limited is a private company limited by shares incorporated in England and Wales. The registered office is Capital House, 272 Manchester Road, Droylsden, Manchester, M43 6PW.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
4
4

No remuneration was paid to the directors throughout the year (2023 - £nil).

58-59 HYDE PARK GATE FREEHOLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
- 4 -
3
Tangible fixed assets
Freehold land and buildings
£
Cost
At 25 March 2024 and 24 March 2025
32,870
Depreciation and impairment
At 25 March 2024
22,560
Depreciation charged in the year
660
At 24 March 2025
23,220
Carrying amount
At 24 March 2025
9,650
At 24 March 2024
10,310
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,534
1,084
Other debtors
94,258
97,144
95,792
98,228
5
Creditors: amounts falling due within one year
2025
2024
£
£
Other taxation and social security
427
413
Other creditors
29,846
34,116
30,273
34,529
Included in other creditors are amounts loaned by shareholders amounting to £28,078 (2023 - £28,078). These loans are interest free and repayable only out of future operating surpluses. The loans have been included in creditors: amounts falling due within one year, as it is the intention that these loans will be repaid once the company is requested to do so by the relevant shareholders and assuming sufficient funds are available.
58-59 HYDE PARK GATE FREEHOLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
- 5 -
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
12
12
12
12
Ordinary 'B' shares of £1 each
3
3
3
3
15
15
15
15
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