H & B COLLECTION LTD


Director	WONG, Tsz Man


Company Secretary	LEE, Ka Leong


Registered Address	9 Royal Crescent
	Glasgow
	G3 7SP


Registered Number	SC490776 (Scotland)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		3,471		3,857
Investment property	4		509,202		509,202
			512,673		513,059
Current assets
Debtors	5	193,986		193,194
Cash at bank and on hand		77,096		55,654
		271,082		248,848
Creditors amounts falling due within one year	6	(179,476)		(176,629)
Net current assets (liabilities)			91,606		72,219
Total assets less current liabilities			604,279		585,278
Creditors amounts falling due after one year	7		(273,221)		(274,125)
Provisions for liabilities	9		(51,308)		(51,313)
Net assets			279,750		259,840
Capital and reserves
Called up share capital			100		100
Revaluation reserve			217,252		217,252
Profit and loss account			62,398		42,488
Shareholders' funds	10		279,750		259,840

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 26 November 2025, and are signed on its behalf by:

WONG, Tsz Man
Director
Registered Company No. SC490776

H & B COLLECTION LTD

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	The turnover shown in the profit and loss account represents the rental income receivable for the year. Income is recognised on the basis of rent due for the year.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Fixtures and fittings	10

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis. Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve together with the fair value movement.

Investment property

The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis. 

Deferred taxation is provided on any fair value surplus at the rate expected to apply when the property is sold and at the year end is included in the fair value reserve together with the fair value movement.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 April 24	7,979	7,979
At 31 March 25	7,979	7,979
Depreciation and impairment
At 01 April 24	4,122	4,122
Charge for year	386	386
At 31 March 25	4,508	4,508
Net book value
At 31 March 25	3,471	3,471
At 31 March 24	3,857	3,857

4.	Investment property
	The investment properties were revalued on an open market by the director on 31 March 2025.


		£
	Fair value at 01 April 24	509,202
	At 31 March 25	509,202

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	190,600	190,600
Prepayments and accrued income	3,386	2,594
Total	193,986	193,194


	Other loans are repayable on demand and subject to a charge for interest.

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	4,661	3,868
Other creditors	171,992	170,992
Accrued liabilities and deferred income	2,823	1,769
Total	179,476	176,629


	Other creditors represents a loan from the director, which is repayable on demand and is subject to a charge for interest.

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Other creditors	273,221	274,125
Total	273,221	274,125

8.	Secured creditors
	The bank loan is secured by standard security over the company's investment properties.

9.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	51,308	51,313
Total	51,308	51,313

10.	Fair value reserve


		£
	Fair value reserve at 01 April 24	217,252
	At 31 March 25	217,252

11.	Related party transactions
	The loan balance due to the director amounted to £171,992 (2024; £170,992) at the year end.