H B Properties N17 Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 13184170 (England and Wales)

H B Properties N17 Limited

Abridged Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Matur

Mr M S Ucar

REGISTERED OFFICE:

Unit 15 A&B

Eley Estate

Edmonton

London

N18 3BB

REGISTERED NUMBER:

13184170 (England and Wales)

AUDITORS:

Alton & Co

Chartered Accountants

& Statutory Auditors

239-241 Kennington Lane

London

SE11 5QU

FIXED ASSETS

Investment property

4

8,323,137

CURRENT ASSETS

Debtors

5

482,855

257,573

Cash at bank and in hand

1,276,649

1,240,347

1,759,504

1,497,920

CREDITORS

Amounts falling due within one year

6

3,243,708

1,511,307

NET CURRENT LIABILITIES

(1,484,204

)

(13,387

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,838,933

8,309,750

CREDITORS

Amounts falling due after more than one
year

7

7,268,335

8,765,001

NET LIABILITIES

(429,402

)

(455,251

)

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

10

(429,502

)

(455,351

)

SHAREHOLDERS' FUNDS

(429,402

)

(455,251

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 December 2025 and were signed on its behalf by:

Mr A Matur - Director

Mr M S Ucar - Director

1.	STATUTORY INFORMATION

H B Properties N17 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised at the end of the period when rent is accrued and in the case of property development when the title of the property changes at the the completion of sale. The turnover is derived from the ordinary activities of the business.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Going concern

The company is dependent on the financial support from the parent company. The directors expect that this support will continue. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this support.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

8,323,137

NET BOOK VALUE

At 31 March 2025

8,323,137

At 31 March 2024

8,323,137

The directors have assessed the value of the property at 31 March 2025 and consider this to be the appropriate value of the investment property.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

476,058

3,791

Amounts owed by group undertakings

6,797

9,602

Amounts owed by associates

-

200,000

VAT

-

30

Prepayments and accrued income

-

44,150

482,855

257,573

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

1,496,667

Trade creditors

-

4,948

Amounts owed to group undertakings

1,574,206

-

Tax

8,615

3,347

VAT

19,970

-

Directors' current accounts

210

Accruals and deferred income

138,462

-

Accrued expenses

5,578

6,135

3,243,708

1,511,307

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Bank loans - 1-2 years

1,496,667

Bank loans - 2-5 years

4,490,000

Bank loans more 5 yr by instal

1,281,668

2,778,334

7,268,335

8,765,001

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,281,668

2,778,334

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

8,765,002

10,261,668

Bank loans are secured as follows:

1. A guarantee and indemnity in standard form executed in favour of Isbank by Mr A Matur and Mr M S Ucar, the directors of the company.

2. A guarantee and indemnity in standard form executed in favour of Isbank by CDH Matur Holdings Ltd, Holland Bazaar Ltd, Stablewood Ltd, Harman Enterprise Ltd, HB Mines Ltd, La Luna Ltd and Tooting Food Centre Ltd.

3. A debenture to be set on H B Properties N17 Ltd, Harman Enterprise Ltd and Stablewood Ltd.

4. A first legal charge over the properties at Padholme Road East, Peterborough PE1 5XL, 15 A&B, Eley Road N18 3BB (15 A&B, Eley Road N18 3BB belongs to Stablewood Ltd), Constructive House, Gordon Road, Waltham Abbey EN9 1AQ and Unit 5, 46 Lea Road, waltham Abbey EN9 1AJ.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

10.

RESERVES

Retained

earnings

£

At 1 April 2024

(455,351

)

Profit for the year

25,849

At 31 March 2025

(429,502

)

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Altan Kemal FCA FCCA (Senior Statutory Auditor)

for and on behalf of Alton & Co

12.	RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity

2025

2024

£

Transfers from related parties

1,577,011

1,530,000

Transfers to related parties

-

200,000

Amount due to related parties

1,574,206

-

Amount due from related parties

6,797

209,602

Rent received from related parties

600,000

13.	ULTIMATE CONTROLLING PARTY

The controlling party is CDH Matur Holdings Ltd.