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

COMPANY REGISTRATION NUMBER: 00773849

Holwood Properties Limited

Filleted Unaudited Financial Statements

5 April 2025

Holwood Properties Limited

Statement of Financial Position

5 April 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	1,679	2,482
Investment properties	5	1,781,708	1,671,708
		------------	------------
		1,783,387	1,674,190

Current assets

Debtors	6	1,838	1,569
Cash at bank and in hand		7,253	23,781
		-------	--------
		9,091	25,350

Creditors: amounts falling due within one year	7	35,925	25,632
		--------	--------
Net current liabilities		26,834	282
		------------	------------
Total assets less current liabilities		1,756,553	1,673,908

Creditors: amounts falling due after more than one year	8	516,543	530,827

Provisions	232,404	( 567)
	------------	------------
Net assets	1,007,606	1,143,648
	------------	------------

Capital and reserves

Called up share capital	110	110
Profit and loss account	1,007,496	1,143,538
	------------	------------
Shareholders funds	1,007,606	1,143,648
	------------	------------

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 income and retained earnings has not been delivered.

For the year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Holwood Properties Limited

Statement of Financial Position (continued)

5 April 2025

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Mr J M Mulcahy
Director

Company registration number: 00773849

Holwood Properties Limited

Notes to the Financial Statements

Year ended 5 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 3, 56 Liverpool Road, Chester, CH2 1AS.

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.

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. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Fixtures and fittings	-	15% straight line

Investments

Fixed asset investment properties are stated on the balance sheet at their fair value and any changes to such value is reflected in the profit and loss account.

Current asset investments are stated at fair value, with any changes to value reflecting through the profit and loss account.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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 following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.

4. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 6 April 2024 and 5 April 2025	695	7,559	8,254
	----	-------	-------
Depreciation
At 6 April 2024	694	5,078	5,772
Charge for the year	1	802	803
	----	-------	-------
At 5 April 2025	695	5,880	6,575
	----	-------	-------
Carrying amount
At 5 April 2025	–	1,679	1,679
	----	-------	-------
At 5 April 2024	1	2,481	2,482
	----	-------	-------

5. Investment properties

	Investment properties
	£
Cost
At 6 April 2024	1,671,708
Revaluations	110,000
	------------
At 5 April 2025	1,781,708
	------------
Impairment
At 6 April 2024 and 5 April 2025	–
	------------

Carrying amount
At 5 April 2025	1,781,708
	------------
At 5 April 2024	1,671,708
	------------

6. Debtors

	2025	2024
	£	£
Other debtors	1,838	1,569
	-------	-------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	660	3,677
Other creditors	35,265	21,955
	--------	--------
	35,925	25,632
	--------	--------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	516,543	516,543
Other creditors	–	14,284
	---------	---------
	516,543	530,827
	---------	---------

9. Director's advances, credits and guarantees

The director operates a current account with the company, the opening balance of which was £11,154 (2024 £11,002) and the closing balance of which was £25,596 (2024 £11,154). The loan is repayable on demand. The director also separately loaned the company £100,000 at an interest rate of 5% above bank base rate. Interest is payable on the anniversary of the loan being made.

10. Related party transactions

Mr J M Mulcahy rents an apartment from the company at £700 per month, such an amount is considered to be at an open market value.