H I Properties (Plymouth) Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 6

H I Properties (Plymouth) Limited

(Registration number: 08017384)
Statement of Financial Position as at 31 March 2026

	Note	2026 £	2025 £
Current assets
Stocks		252,039	55,456
Debtors	5	728	-
Cash at bank and in hand		655	193,393
		253,422	248,849
Creditors: Amounts falling due within one year	6	(117,946)	(108,854)
Total assets less current liabilities		135,476	139,995
Creditors: Amounts falling due after more than one year	6	-	(2,500)
Net assets		135,476	137,495
Capital and reserves
Called up share capital		2	2
Profit and loss account		135,474	137,493
Shareholders' funds		135,476	137,495

For the financial year ending 31 March 2026 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 3 July 2026 and signed on its behalf by:
 

Mr S T M Hicks Director

H I Properties (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Marsh Mills
Plymouth
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of buying and selling own real estate.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

H I Properties (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for the sale of properties.

Revenue from the sale of properties is recognised when the significant risks and rewards of ownership have transferred to the buyer; 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

H I Properties (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

H I Properties (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 April 2025	1,998	1,998
At 31 March 2026	1,998	1,998
Depreciation
At 1 April 2025	1,998	1,998
At 31 March 2026	1,998	1,998
Carrying amount
At 31 March 2026	-	-

5

Debtors

	2026 £	2025 £
Other debtors	728	-
	728	-

H I Properties (Plymouth) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026 (continued)

6

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Loans and borrowings	2,500	10,000
Taxation and social security	-	10,470
Accruals and deferred income	1,122	1,060
Other creditors	114,324	87,324
	117,946	108,854

Creditors: amounts falling due after more than one year

	2026 £	2025 £
Loans and borrowings	-	2,500

Bounce Back Loans benefit from a government guarantee.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8	Related party transactions

Transactions with directors

2026	At 1 April 2025 £	Advances to director £	Repayments by director £	At 31 March 2026 £
Directors	(87,324)	20,000	(47,000)	(114,324)

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
Directors	(87,499)	175	-	(87,324)

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.