Hymec Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12265475 (England and Wales)

Financial Statements for the Period 16 October 2019 to 30 June 2020

for

Hymec Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

F K Williams

REGISTERED OFFICE:

C/o Mark Holt & Co 7 Sandy Court Ashleig

Langage Business Park

Plymouth

PL7 5JX

REGISTERED NUMBER:

12265475 (England and Wales)

AUDITORS:

Thornton Springer LLP

Chartered Accountants and

Statutory Auditor

67 Westow Street

Upper Norwood

London

SE19 3RW

FIXED ASSETS

Tangible assets

5

2,039,344

CURRENT ASSETS

Debtors

6

100

Cash at bank

192,339

192,439

CREDITORS

Amounts falling due within one year

7

(848,622

)

NET CURRENT LIABILITIES

(656,183

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,383,161

CREDITORS

Amounts falling due after more than one year

8

(1,406,250

)

NET LIABILITIES

(23,089

)

CAPITAL AND RESERVES

Called up share capital

10

100

Retained earnings

(23,189

)

SHAREHOLDERS' FUNDS

(23,089

)

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2020 and were signed by:

F K Williams - Director

1.	STATUTORY INFORMATION

Hymec Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the recognition of certain financial assets and liabilities measured at fair value.

Turnover

Turnover represents net invoiced rental income receivable.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost buildings

Freehold property rented to fellow group company has been accounted under the cost model.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Going concern

The company has made a loss and liabilities exceed assets by £23,089 which indicates that the company may not be solvent. However, group companies have undertaken to continue to support the company financially until the company is able to fund its operations from realised profits. On this basis the director consider it appropriate to prepare these financial statements on a going concern basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

5.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

Additions

2,055,790

At 30 June 2020

2,055,790

DEPRECIATION

Charge for period

16,446

At 30 June 2020

16,446

NET BOOK VALUE

At 30 June 2020

2,039,344

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

100

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

848,622

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

1,406,250

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,406,250

9.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

1,406,250

Bank loan is secured by a fixed and floating charge over the property situated at Plymbridge Road, Plymouth.

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

value:

£

100

Share capital 1

1

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen A Kaye (Senior Statutory Auditor)

for and on behalf of Thornton Springer LLP

12.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13.	ULTIMATE PARENT COMPANY

The immediate and ultimate parent company during the financial year is Hymec Investments Limited, a company incorporated in England and Wales.

Hymec Investments Limited is the largest and smallest group within which Hymec Properties Limited belongs and for which copies of the consolidated financial statements can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.