Company Registration No. 05825922 (England and Wales)
HOL Properties (UK) Ltd
Unaudited accounts
for the year ended 31 December 2024
HOL Properties (UK) Ltd
Unaudited accounts
Contents
HOL Properties (UK) Ltd
Company Information
for the year ended 31 December 2024
Directors
Barbaros INANC
Naci INANC
Company Number
05825922 (England and Wales)
Registered Office
27 Old Gloucester St
Holborn
London
WC1N 3AX
United Kingdom
Accountants
Jones Hunt & Keelings - Chartered Certified Accountants
7-8 Portmill Lane
Hitchin
Hertfordshire
SG5 1DJ
HOL Properties (UK) Ltd
Statement of financial position
as at 31 December 2024
Investment property
10,000,000
8,950,000
Cash at bank and in hand
77,813
25,592
Creditors: amounts falling due within one year
(20,489)
(1,038)
Net current (liabilities)/assets
(9,839)
86,051
Total assets less current liabilities
9,990,161
9,036,051
Creditors: amounts falling due after more than one year
(1,708,068)
(1,807,790)
Net assets
8,282,093
7,228,261
Called up share capital
1,100
1,100
Fair value reserve
7,280,000
6,230,000
Profit and loss account
1,000,993
997,161
Shareholders' funds
8,282,093
7,228,261
For the year ending 31 December 2024 the company was entitled to exemption from audit 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 directors acknowledge 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by
Barbaros INANC
Director
Company Registration No. 05825922
HOL Properties (UK) Ltd
Notes to the Accounts
for the year ended 31 December 2024
HOL Properties (UK) Ltd is a private company, limited by shares, registered in England and Wales, registration number 05825922. The registered office is 27 Old Gloucester St, Holborn, London, WC1N 3AX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Critical account judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.
The investments properties which were previously held at cost last year were reinstated at fair value per the directors valuation.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
HOL Properties (UK) Ltd
Notes to the Accounts
for the year ended 31 December 2024
The directors are of the opinion that it is appropriate to prepare the accounts on a going concern basis. The company has continued to meet its obligations since the balance sheet date and the directors have agreed adequate facilities with the company bankers and appropriate payment terms with all major creditors. The parent company has pledged its continued support for the foreseeable future.
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss.
The accounts are presented in £ sterling.
Fair value at 1 January 2024
8,950,000
Net gain from fair value adjustments
1,050,000
At 31 December 2024
10,000,000
Fair value at 31 December 2024 is represent by:
Valuation in 2019: £2,077,000
Valuation in 2020: £0
Valuation in 2021: £1,578,000
Valuation in 2022: £1,775,000
Valuation in 2023: £800,000
Valuation in 2024: £1,050,000
Cost: £2,720,000
Total: £10,000,000
The investment properties were valued on an open market basis on 31 December 2023 by the Director.
Amounts falling due within one year
Trade debtors
(79,711)
7,600
Amounts falling due after more than one year
Amounts due from group undertakings etc.
12,548
13,372
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
19,189
(2,854)
Taxes and social security
-
2,592
HOL Properties (UK) Ltd
Notes to the Accounts
for the year ended 31 December 2024
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,345,999
1,445,684
Amounts owed to group undertakings and other participating interests
35,437
228,474
Loans from directors
326,632
133,632
The secured debts for 2024 are £1,345,999, and for 2023 they are £1,445,684.
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Transactions with related parties
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable to the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
HOL Holdings Limited is regarded by the directors as being the ultimate parent company, the immediate parent company is HOL Property Holdings Limited.
HOL Holdings Limited is controlled by N Inanc, B Inanc and B Inanc. HOL Holdings Limited prepares financial statements and they can be obtained at the following address:
27 Old Gloucester Street
London
England
WC1N 3AX
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Average number of employees
During the year the average number of employees was 2 (2023: 2).