HHFM Limited - Filleted accounts

Registered number

04481780

HHFM Limited

Filleted Accounts

31 March 2026

HHFM Limited
Registered number:		04481780
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Intangible assets	4		-			-
Tangible assets	4		523,922			504,313
Investments	6		-			-
			523,922			504,313

Current assets
Stocks		-			-
Debtors	7	2,501			530
Investments held as current assets	8	-			-
Cash at bank and in hand		1,904			1,792
		4,405			2,322

Creditors: amounts falling due within one year	9	(4,424)			(3,104)

Net current liabilities			(19)			(782)

Total assets less current liabilities			523,903			503,531

Creditors: amounts falling due after more than one year	10		(604,142)			(585,846)

Provisions for liabilities			-			-


Net liabilities			(80,239)			(82,315)

Capital and reserves
Called up share capital			100			100
Share premium			-			-
Revaluation reserve	12		-			-
Profit and loss account			(80,339)			(82,415)

Shareholders' funds			(80,239)			(82,315)	-

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Richard J Harding
Director
Approved by the board on 9 August 2026

HHFM Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	The Company previously had no external turnover as holiday rental is prohibited under Spanish Tourism Law. However, Long-term rentals are permitted and the property has been rented out under an annual '2nd Home' Rental Contract since 15 April 2024. Turnover represents rental amount received relating to the rental period net of Spanish Tax payable thereon.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 4 years
	Fixtures, fittings, tools and equipment			over 5 years

	Stocks
	The company carries no stock and this will not change.

	Debtors
	The company has no trade debtors as rental income is charged and paid annually in advance. Other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	The accounts for the property owned by the company in Camp de Mar Mallorca, are wholly maintained in Euros. At the end of the reporting period the Profit and Loss Account is converted to Sterling at the average rate for the year and exchange gains or losses compared with the year end rate are transferred to Other Operating Income in the P&L/charged to P&L as applicable. The Balance Sheet is converted to sterling at the closing rate for the year. Any difference from the previous year is deemed due to temporary fluctuations in exchange rates and does not result in any cash flow as gains/losses are unrealised. The exchange difference is therefore transferred to/from a foreign currency revaluation reserve included with other Debtors/Creditors as applicable. The Euro Balance Sheet Net Assets at 1 April 2016 = zero so subsequent currency gains/losses on the assets and liabilities have likewise been broadly equal and opposite.


3	Employees					2026		2025
Number							Number

	Average number of persons employed by the company					0		0


4	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2025	504,313		18,555		-		522,868
	Additions	-		-		-		-
	Surplus on revaluation	19,609		315		-		19,924
	Disposals	-		-		-		-
	At 31 March 2026	523,922		18,870		-		542,792

	Depreciation
	At 1 April 2025	-		18,555		-		18,555
	Charge for the year	-		-		-		-
	Surplus on revaluation	-		315		-		315
	On disposals	-		-		-		-
	At 31 March 2026	-		18,870		-		18,870

	Net book value
	At 31 March 2026	523,922		-		-		523,922
	At 31 March 2025	504,313		-		-		504,313


	Freehold land and buildings:					2026		2025
£							£
	Historical cost					511,074		511,074
	Cumulative depreciation based on historical cost					-		-
						511,074		511,074


7	Debtors					2026		2025
£							£

	Trade debtors					-		-
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					-		-
	Deferred tax asset					-		-
	Other debtors					2,501		530
						2,501		530

	Amounts due after more than one year included above					-		-


9	Creditors: amounts falling due within one year					2026		2025
£							£

	Non-equity preference shares					-		-
	Bank loans and overdrafts					-		-
	Obligations under finance lease and hire purchase contracts					-		-
	Trade creditors					-		-
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					-		-
	Taxation and social security costs					-		-
	Other creditors					4,424		3,104
						4,424		3,104


10	Creditors: amounts falling due after one year					2026		2025
£							£

	Non-equity preference shares					-		-
	Bank loans					-		-
	Obligations under finance lease and hire purchase contracts					-		-
	Trade creditors					-		-
	Amounts owed to group undertakings and undertakings in which the company has a participating interest					-		-
	Other creditors					604,142		585,846
						604,142		585,846


11	Loans					2026		2025
£							£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years					604,142		585,846
	Instalments falling due for payment after more than five years					-		-
						604,142		585,846


	Secured bank loans					-		-

	Property Loans
	The property purchase was financed by loans from close family members totalling £461498 Euro element as revalued - (2023 £ 456584 Excluding Interest accrued and current accounts, which, are due to be repaid on demand but in reality, the balance is deferred until the eventual sale of the property owned by the company.
	The loans in part, originated in GBP £279,397 dating back to 2003 when the company first owned a UK Holiday Rentals property
	Interest accrued on the loans since June 2003 now amounts to £140662 (2025 £134255) The Director has approved that interest shall be accrued (but not paid) on Loan capital this year at a rate of 65% of rate/day weighted average UK base rate.

	Total Current Accounts bear a net debit balance of £15953 (2025 net debit £1985 )
	Detailed Loan Balances (Including Accrued Interest and Current Accounts - Euro element all at exchange rate Mar 2023 and subject to revaluation amount shown during the year) Due to:
	Rhianna S Harding					129,484		128,198
	Daniel R Harding					129,484		128,198
	Madelaine M Harding					129,484		128,198
	Richard J Harding					194,717		213,098
	Current Year revaluation due to lower GBP:Euro Y/E exchange rate Mar 2026 1.1496 (Mar 2025 1.1943)					20,973		(11,846)
						604,142		585,846





12	Revaluation reserve					2026		2025
£							£

	At 1 April 2025					-		-
	Gain on revaluation of land and buildings
	Deferred taxation arising on the revaluation of land and buildings					-		-

	At 31 March 2026					-		-


13	Events after the reporting date

	Whilst Short Term Holiday rentals are not permitted, long term lets are allowed and the Camp de Mar property has been let under an annual '2nd Home' Rental Agreement w.e.f. 15th April 2026. Since the Balance Sheet Date, the rental to the same tennant on same terms, has been extended for a 2nd time, for a further 12 months w.e.f. 15 April 2026-14 April 2027


14	Capital commitments					2026		2025
£							£

	Amounts contracted for but not provided in the accounts					-		-


15	Pension commitments

	There are no pension commitments - the company has no paid Directors or Employees


16	Other financial commitments					2026		2025
£							£

	Total future minimum payments under non-cancellable operating leases					-		-


17	Contingent liabilities

	The company has no contingent liabilities



19	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Richard J Harding
	There have not been any loans to the director either during or outstanding at the end of the year.

20	Guarantees made by the company on behalf of directors
	Main terms			Maximum	Amount paid
liability					and incurred
£					£
	Richard J Harding
	The company has not given any guarantees on behalf of the director

21	Related party transactions

	RJHarding's current account expenditure on running expenses/obligations, remains in credit but further reduced this year as all Euro expenditure financed from rental income: RJHarding net reduction (recovery of previous expenditure) after f/c revaluation in current account for the year amounting to £13968 during the year. (2025 also reduction £9095).


22	Controlling party

	Richard J Harding is the ultimate controlling party by virtue of his shareholding.


23	Other information

	HHFM Limited is a private company limited by shares and incorporated in England. Its registered office is:
	43 Welcomes Road
	Kenley

	CR8 5HA