REGISTERED NUMBER: 13965057 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HEMEL COMMERCIAL PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P M Domb

Mr V D Goldstein

REGISTERED OFFICE:

869 High Road

London

N12 8QA

REGISTERED NUMBER:

13965057 (England and Wales)

ACCOUNTANTS:

EA

Chartered Accountants

869 High Road

London

N12 8QA

FIXED ASSETS

Investment property

4

2,825,000

2,525,000

CURRENT ASSETS

Debtors

5

394,954

212,918

Cash at bank and in hand

17,694

132,888

412,648

345,806

CREDITORS

Amounts falling due within one year

6

41,059

48,078

NET CURRENT ASSETS

371,589

297,728

TOTAL ASSETS LESS CURRENT LIABILITIES

3,196,589

2,822,728

CREDITORS

Amounts falling due after more than one year

7

(1,505,297

)

(1,547,882

)

PROVISIONS FOR LIABILITIES

(137,500

)

(137,500

)

NET ASSETS

1,553,792

1,137,346

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

1,889,794

1,889,794

Revaluation reserve

9

(425,000

)

-

Retained earnings

88,898

(752,548

)

1,553,792

1,137,346

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2025 and were signed on its behalf by:

Mr P M Domb - Director

1.	STATUTORY INFORMATION

Hemel Commercial 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.

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.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Turnover

Turnover is measured at the fair value of net rent receivable.

Investment property

Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,525,000

Revaluations

300,000

At 31 March 2025

2,825,000

NET BOOK VALUE

At 31 March 2025

2,825,000

At 31 March 2024

2,525,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

(725,000

)

Valuation in 2025

300,000

Cost

3,250,000

2,825,000

The investment properties were valued on a fair value basis on 26 April 2024 by Allsop LLP .

The investment properties were transferred in at market value on 22 November 2022 from subsidiary companies Hemel Properties Ltd and Waterhouse Street Ltd, respectively.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

365,987

180,986

Other debtors

28,967

31,932

394,954

212,918

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

29,735

33,051

Trade creditors

-

214

Taxation and social security

3,359

-

Other creditors

7,965

14,813

41,059

48,078

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,505,297

1,547,882

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,535,032

1,580,933

The bank loan is secured by way of fixed charge against the investment properties held in the entity.

9.

RESERVES

Revaluation

reserve

£

Transfer to Non dis reserve

(425,000

)

At 31 March 2025

(425,000

)

10.	RELATED PARTY DISCLOSURES

Included within debtors is an interest-free loan of £182,487 (2024: £89,986) owed by Pershing Properties Limited, a company which holds 50% of the ordinary share capital of the entity.

Included within debtors is an interest-free loan of £183,500 (2024: £91,900) owed by The V Fund Limited, a company which holds 50% of the ordinary share capital of the entity.