Honesta Property Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03672027 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2022 to 31 October 2022

for

Honesta Property Ltd

(previously Bluebell Care Homes Ltd)

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B A Lewis

K S Lewis

SECRETARY:

K S Lewis

REGISTERED OFFICE:

Warren Drive

Fielden Road

Crowborough

East Sussex

TN6 1TP

REGISTERED NUMBER:

03672027 (England and Wales)

ACCOUNTANTS:

Warren House Accountants Limited

4 The Courtyard

Holmsted Farm

Staplefield Road

Haywards Heath

RH17 5JF

FIXED ASSETS

Tangible assets

4

1,214,368

1,261,305

CURRENT ASSETS

Stocks

-

650

Debtors

5

7,650

4,907

Cash at bank and in hand

24,902

207,355

32,552

212,912

CREDITORS

Amounts falling due within one year

6

164,982

248,545

NET CURRENT LIABILITIES

(132,430

)

(35,633

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,081,938

1,225,672

PROVISIONS FOR LIABILITIES

-

4,308

NET ASSETS

1,081,938

1,221,364

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,081,838

1,221,264

1,081,938

1,221,364

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2022 and were signed on its behalf by:

K S Lewis - Director

1.	STATUTORY INFORMATION

Honesta Property Ltd 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services.

Tangible fixed assets

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

Freehold property

- 2% straight line

Fixtures & fittings

- 10% straight line

Computer equipment

- 25% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 26 (2022 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2022

1,802,474

330,850

1,723

2,135,047

Disposals

-

(330,850

)

(1,723

)

(332,573

)

At 31 October 2022

1,802,474

-

-

1,802,474

DEPRECIATION

At 1 April 2022

571,146

300,873

1,723

873,742

Charge for period

16,961

3,368

-

20,329

Eliminated on disposal

-

(304,242

)

(1,723

)

(305,965

)

At 31 October 2022

588,107

(1

)

-

588,106

NET BOOK VALUE

At 31 October 2022

1,214,367

1

-

1,214,368

At 31 March 2022

1,231,328

29,977

-

1,261,305

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.3.22

£

£

Trade debtors

-

3,714

Other debtors

7,650

1,193

7,650

4,907

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.3.22

£

£

Trade creditors

1,570

37,622

Taxation and social security

28,766

55,504

Other creditors

134,646

155,419

164,982

248,545

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.10.22

31.3.22

£

£

Within one year

-

4,824

Between one and five years

-

14,472

-

19,296

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Other creditors due after one year includes a loan of £130,000 (2022: £130,000) from K S Lewis, a director. Interest is charged at 10% (2022: 10%) on the outstanding balance and there are no fixed repayment terms. During the year interest totalling £7,800 (2022: £13,000) was paid to K S Lewis.

9.	ULTIMATE CONTROLLING PARTY

The company is under the control of K S Lewis.