Company registration number 12299963 (England and Wales)
HS PROPERTY NE 1 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
HS PROPERTY NE 1 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HS PROPERTY NE 1 LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
4
363,300
350,000
Current assets
Debtors
5
231,304
70,220
Creditors: amounts falling due within one year
6
(2,037)
(18,985)
Net current assets
229,267
51,235
Total assets less current liabilities
592,567
401,235
Creditors: amounts falling due after more than one year
7
(275,400)
(101,675)
Provisions for liabilities
(41,077)
(37,752)
Net assets
276,090
261,808
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
276,089
261,807
Total equity
276,090
261,808

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 5 February 2026 and are signed on its behalf by:
Mr D A Searle
Director
Company registration number 12299963 (England and Wales)
HS PROPERTY NE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

HS Property NE 1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Reedham House, 31-33 King Street West, Manchester, M3 2PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents and services provided in the normal course of business and is stated net of VAT.

Under FRS102, reduced income derived from rent free periods is spread over the life of the lease.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HS PROPERTY NE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
4
Investment property
2025
£
Fair value
At 1 April 2024
350,000
Revaluations
13,300
At 31 March 2025
363,300
HS PROPERTY NE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
231,304
70,219
Other debtors
-
0
1
231,304
70,220
6
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
237
3,296
Other creditors
1,800
15,689
2,037
18,985
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
275,400
101,675
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Nathaniel Davidson BA(Hons) ACA
Statutory Auditor:
Lopian Gross Barnett & Co
Date of audit report:
5 February 2026
9
Events after the reporting date

There are no post balance sheet events that require disclosure.

HS PROPERTY NE 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
10
Related party transactions

Related party transactions are disclosed on the parent company accounts.

11
Parent company

The company's ultimate parent undertaking at the balance sheet date was Hornsearle Property Group Limited, a company registered in England and Wales.

The company is a subsidiary of Hornsearle Property Investments Limited, a company registered in England and Wales.

Registered Office Reedham House

31 King Street West

Manchester

United Kingdom

M3 2P J

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