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Registered number: 02094328
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Holmwood Commercial Properties Limited
Financial statements
Information for filing with the registrar
31 March 2025
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Holmwood Commercial Properties Limited
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Statement of financial position
At 31 March 2025
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Debtors: amounts falling due after more than one year
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Debtors - amounts falling due with one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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1
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Holmwood Commercial Properties Limited
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Statement of financial position (continued)
At 31 March 2025
The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 November 2025.
Company registration number: 02094328
The notes on pages 3 to 6 form part of these financial statements.
2
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Holmwood Commercial Properties Limited
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Notes to the financial statements
Year ended 31 March 2025
The company is a private company limited by shares, registered and domciled in England and Wales. The address of the registered office is 2nd Floor, Citygate, St James' Boulevard, Newcastle upon Tyne, NE1 4JE.
2.Accounting policies
These financial statements have been prepared in compliance with Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and rebates.
Turnover represents rents receivable during the year.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
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 income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
3
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Holmwood Commercial Properties Limited
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Notes to the financial statements
Year ended 31 March 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investment property is carried at fair value determined annually by external valuers or the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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Judgements in applying accounting policies and key sources of estimation uncertainty
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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.
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The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
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4
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Holmwood Commercial Properties Limited
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Notes to the financial statements
Year ended 31 March 2025
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The investment properties were valued by the director at 31 March 2025.
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5
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Holmwood Commercial Properties Limited
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Notes to the financial statements
Year ended 31 March 2025
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Due after more than one year
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Prepayments and accrued income
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Included in debtors is a £200,000 loan. The loan is unsecured, interest free and has no schedule for repayment.
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Creditors: amounts falling due within one year
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Accruals and deferred income
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The bank loan is secured by a fixed and floating charge over the assets to which it relates.
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Director's advances, credits and guarantees
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During the year, the director used a loan account to record amounts due to and from the company. At the end of the year, the balance due to the company from the director was £2,116 (2024: £41,961). The loan is unsecured, and no fixed terms of repayment have been agreed. During the year interest of £490 was paid in respect of the overdrawn balance. The loan will be repaid in December 2025.
6
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