HFXC Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14011662

HFXC PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

HFXC PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	4		811,000		811,000

CURRENT ASSETS

Debtors	5	4,950	1,495
Cash at bank and in hand		53,775	16,572
		---------	---------
		58,725	18,067

CREDITORS: amounts falling due within one year	6	806,701		800,086
		-----------		-----------
NET CURRENT LIABILITIES			747,976		782,019
			-----------		-----------
TOTAL ASSETS LESS CURRENT LIABILITIES			63,024		28,981

PROVISIONS	7	583	767
		---------	---------
NET ASSETS		62,441	28,214
		---------	---------

HFXC PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

	2025		2024
Note	£	£	£	£

CAPITAL AND RESERVES

Called up share capital	100	100
Revaluation reserve	2,302	2,302
Profit and loss account	60,039	25,812
	---------	---------
SHAREHOLDERS FUNDS	62,441	28,214
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

These financial statements were approved by the board of directors and authorised for issue on 15 December 2025 , and are signed on behalf of the board by:

C A Dyer

Director

Company registration number: 14011662

HFXC PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP, England.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover represents property rents receivable during the period.

Taxation

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

4. TANGIBLE ASSETS

	Freehold property
	£
Cost
At 1 April 2024 and 31 March 2025	811,000
	-----------
Depreciation
At 1 April 2024 and 31 March 2025	–
	-----------
Carrying amount
At 31 March 2025	811,000
	-----------
At 31 March 2024	811,000
	-----------

The freehold property represents rental properties held as investments. The properties, having a cost value of £807,930, were valued by the directors at 31 March 2024 at their estimated market value of £811,000 If the properties were sold at this value, there would be a tax liability of £583.

5. DEBTORS

	2025	2024
	£	£
Other debtors	4,950	1,495
	--------	--------

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Accruals and deferred income	4,265	2,400
Corporation tax	7,987	5,115
Other creditors	794,449	792,571
	-----------	-----------
	806,701	800,086
	-----------	-----------

Included within 'Other creditors' is an unsecured loan of £794,449(2024:£792,571) from a company under the control of the directors. This loan is interest free and repayable on demand.

7. PROVISIONS

	Deferred tax (note 8)
	£
At 1 April 2024	767
Charge against provision	( 184)
	-----
At 31 March 2025	583
	-----

8. DEFERRED TAX

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 7)	583	767
	-----	-----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	583	767
	-----	-----