HJI Properties Limited - Period Ending 2020-09-30

HJI Properties Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

HJI Properties Limited

Company Information

Director

Ms S Irlam

Registered office

7-9 Macon Court Crewe Cheshire CW1 6EA

Accountants

Alextra Group Ltd Chartered Certified Accountants 7-9 Macon Court Crewe Cheshire CW1 6EA

HJI Properties Limited

(Registration number: 09163251)
Balance Sheet as at 30 September 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	5	350	38,996
Current assets
Debtors	6	-	511
Cash at bank and in hand		1	18,981
		1	19,492
Creditors: Amounts falling due within one year	7	(406,958)	(439,546)
Net current liabilities		(406,957)	(420,054)
Net liabilities		(406,607)	(381,058)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(406,707)	(381,158)
Shareholders' deficit		(406,607)	(381,058)

For the financial year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account or Director report has been taken.

Approved and authorised by the director on 14 December 2021
 

.........................................

Ms S Irlam
Director

HJI Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

The company meets its day to day working capital requirements from capital introduced by related parties. The director considers that this facility will continue to be made available within which the company will be able to operate.

On this basis the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern bases was not appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities and the proceeds of the sale of the trade. Turnover is shown net of sales/value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

HJI Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings (furniture, fittings and equipment)	20% Reducing Balance
Improvements to properties (other tangible assets)	1% Reducing Balance
Office equipment (furniture, fittings and equipment)	33% Straight Line

Intangible assets

Costs directly attributable to the franchise fee have been capitalised and are being amortised on the straight-line basis over the estimated useful life of 5 years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Franchise	20% Straight Line

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2019 - 3).

HJI Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020

4	Intangible assets

	Franchise fee  £	Total £
Cost or valuation
At 1 October 2019	290,000	290,000
At 30 September 2020	290,000	290,000
Amortisation
At 1 October 2019	290,000	290,000
At 30 September 2020	290,000	290,000
Carrying amount
At 30 September 2020	-	-

5	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 October 2019	3,958	39,426	43,384
Disposals	-	(39,426)	(39,426)
At 30 September 2020	3,958	-	3,958
Depreciation
At 1 October 2019	3,098	1,290	4,388
Charge for the year	510	-	510
Eliminated on disposal	-	(1,290)	(1,290)
At 30 September 2020	3,608	-	3,608
Carrying amount
At 30 September 2020	350	-	350
At 30 September 2019	860	38,136	38,996

HJI Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2020

6

Debtors

	2020 £	2019 £
Prepayments	-	511
	-	511

7

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Trade creditors	-	3,558
Taxation and social security	3,136	6,714
Accruals and deferred income	3,404	2,241
Other creditors	400,418	427,033
	406,958	439,546

8	Related party transactions

Summary of transactions with other related parties

HJI Properties Limited is related to Froggy Lets Limited by virtue of the director Ms S Irlam being a shareholder of Froggy Lets Limited.

During the year loans were received from Froggy Lets Limited amounting to £78,746. At the year-end the company owed £400,418 to Froggy Lets Limited (2019: £321,672). This amount is interest free, repayable on demand and included within other creditors.