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

COMPANY REGISTRATION NUMBER: 01433315

HOSTOMBE PROPERTIES LIMITED

FILLETED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2026

HOSTOMBE PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2026

	2026	2025
		(restated)
Note	£	£

Fixed assets

Tangible assets	5	335,652	372,575
Investments	6	400,000	1,525,136
		----------	-------------
		735,652	1,897,711

Current assets

Debtors	7	262,144	427,225
Cash at bank and in hand		1,563,139	290,257
		-------------	----------
		1,825,283	717,482

Creditors: amounts falling due within one year	8	( 2,704,928)	( 2,753,979)
		-------------	-------------
Net current liabilities		( 879,645)	( 2,036,497)
		----------	-------------
Total assets less current liabilities		( 143,993)	( 138,786)
		----------	----------
Net liabilities		( 143,993)	( 138,786)
		----------	----------

Capital and reserves

Called up share capital	800,100	800,100
Revaluation reserve	–	145,731
Profit and loss account	( 944,093)	( 1,084,617)
	----------	-------------
Shareholder deficit	( 143,993)	( 138,786)
	----------	-------------

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 comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

HOSTOMBE PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 8 October 2026 , and are signed on behalf of the board by:

R E Hostombe

Director

Company registration number: 01433315

HOSTOMBE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Fullwood Hall, Harrison Lane, Sheffield, South Yorkshire, S10 4PA.

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, and in sterling, which is the functional currency of the entity.

Going concern

The company is supported by the directors and its parent company who have indicated their willingness to continue to support the company. On this basis the directors continue to adopt the going concern basis.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. - Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: (i) Treatment of the property investments The company owned a 75% interest in property in Barbados via a wholly owned subsidiary, Hostombe Properties (BVI) Ltd. Management consider that the substance of the transaction with Hostombe Properties (BVI) Ltd is that the property is held by the company and account for the property as such including recognising the income and expenditure in relation to the property in its profit and loss account. The loan to purchase the property has also been shown as relating to the purchase costs and the carrying value has been adjusted to reflect its fair value in accordance with the accounting treatment of an investment property. There is also a second property owned by the Director through another BVI company. Again the company manages this property on behalf of the legal owners and recognises the income and expenditure. During the period the property interest was disposed of and the property management services ceased. (ii) Recognition of property let to Group companies The property let to a fellow group company is held at depreciated cost and is included within tangible fixed assets. - Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: (i) Property valuation The investment properties are stated at fair value. The directors determine fair value taking into account market evidence and external valuation information where available.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents rents receivable, stated net of discounts and of Value Added Tax.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Freehold property	-	2% straight line
Fixtures and fittings	-	20% straight line

Investments

Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued by the directors to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Loan investments are stated at their fair value.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, including trade and other receivables, cash and bank balances, loans to fellow group companies and investments 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 receipts discounted at a market rate of interest for a similar debt instrument. Such assets are subsequently carried at amortised cost, using the effective interest method. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost, using the effective interest method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2025: 1 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 April 2025 (as restated)	527,160	92,992	620,152
Disposals	–	( 92,992)	( 92,992)
	----------	---------	----------
At 31 March 2026	527,160	–	527,160
	----------	---------	----------
Depreciation
At 1 April 2025	180,965	66,612	247,577
Charge for the year	10,543	–	10,543
Disposals	–	( 66,612)	( 66,612)
	----------	---------	----------
At 31 March 2026	191,508	–	191,508
	----------	---------	----------
Carrying amount
At 31 March 2026	335,652	–	335,652
	----------	---------	----------
At 31 March 2025	346,195	26,380	372,575
	----------	---------	----------

Included within land and buildings is a property occupied by a fellow group company and is accounted for as a tangible fixed asset.

6. Investments

	Shares in group undertakings	Investment property	Total
	£	£	£
Cost
At 1 April 2025 as restated	1	1,525,135	1,525,136
Disposals	( 1)	( 1,095,135)	( 1,095,136)
Revaluations	–	( 30,000)	( 30,000)
	----	-------------	-------------
At 31 March 2026	–	400,000	400,000
	----	-------------	-------------
Impairment
At 1 April 2025 as restated and 31 March 2026	–	–	–
	----	-------------	-------------

Carrying amount
At 31 March 2026	–	400,000	400,000
	----	-------------	-------------
At 31 March 2025	1	1,525,135	1,525,136
	----	-------------	-------------

The UK investment property comprises Kayedee Premises, Stamford Street, Newhall Road Trading Estate, Sheffield S9 2TX. In accordance with FRS 102, this property is stated at fair value as determined by the directors. The historic cost of the property is £759,920.

As explained in the accounting policies the overseas property has been treated as being owned by the company rather than a loan. It was revalued in the prior year to fair value which is the amount received by the company on the sale of the property in July 2025. The original loan was for £949,404.

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Hostombe Properties (BVI) Limited	Ordinary	100

7. Debtors

	2026	2025
		(restated)
	£	£
Trade debtors	22,500	22,500
Amounts owed by group undertakings and undertakings in which the company has a participating interest	239,644	378,865
Other debtors	–	25,860
	----------	----------
	262,144	427,225
	----------	----------

8. Creditors: amounts falling due within one year

	2026	2025
		(restated)
	£	£
Trade creditors	36	70
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,590,036	2,590,948
Social security and other taxes	6,856	6,128
Other creditors	108,000	156,833
	-------------	-------------
	2,704,928	2,753,979
	-------------	-------------

Included within other creditors is a loan from a family member of £100,000. Interest of 4% is paid on the loan which has no fixed repayment date.

9. Prior period errors

During the year the directors identified that the fair value of an investment property included within the financial statements for the year ended 31 March 2025 had been overstated. The valuation adopted at that date was £900,000; however, subsequent review established that the valuation had been based on incorrect information available at the time. The directors have concluded that the correct fair value of the property at 31 March 2025 was £430,000. In accordance with FRS 102, the prior year comparative information has been restated to correct this error. The effect of the correction has been to reduce the carrying value of investment properties and retained earnings as at 31 March 2025 by £470,000. There is no tax effect.

10. Other financial commitments

The company has given a legal charge over one of its properties to the Trustees of the Hostombe Pension Scheme to secure the liabilities of the Scheme Employers to make future pension contributions. The charge is due to be released.

11. Summary audit opinion

The auditor's report dated 8 October 2026 was unqualified .

The senior statutory auditor was Mark Bradshaw , for and on behalf of Streets Audit LLP .

12. Related party transactions

As the company is a wholly owned subsidiary of Hostombe Group Limited, the company has taken advantage of the exemption and has not disclosed transactions or balances with the holding company or fellow wholly owned subsidiary undertakings. There is a loan of £100,000 from a family member of the director, which is outstanding at the year end. Interest of £4,000 has been paid in the year. The company's subsidiary, Hostombe Properties (BVI) Ltd, owned a 75% interest in a property in Barbados. Whilst no rent is exchanged between the companies, all rental income and expenditure is managed by this company and recognised in these financial statements. The interest was disposed of during the year. The company did not enter into any further transactions during the current or previous year, such as would require disclosure in accordance with FRS 102 section 1A.

13. Controlling party

The ultimate parent undertaking is Hostombe Group Limited, a company registered in England. Its registered office is Fullwood Hall, Harrison Lane, Sheffield, S10 4PA. The ultimate controlling party is R E Hostombe .