ACCOUNTS - Final Accounts

HP (ACTON) LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-06-302022-06-30false22021-07-012truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09263777 2021-07-01 2022-06-30 09263777 2020-07-01 2021-06-30 09263777 2022-06-30 09263777 2021-06-30 09263777 c:Director1 2021-07-01 2022-06-30 09263777 d:FreeholdInvestmentProperty 2022-06-30 09263777 d:FreeholdInvestmentProperty 2021-06-30 09263777 d:FreeholdInvestmentProperty 2 2021-07-01 2022-06-30 09263777 d:CurrentFinancialInstruments 2022-06-30 09263777 d:CurrentFinancialInstruments 2021-06-30 09263777 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 09263777 d:CurrentFinancialInstruments d:WithinOneYear 2021-06-30 09263777 d:ShareCapital 2022-06-30 09263777 d:ShareCapital 2021-06-30 09263777 d:RevaluationReserve 2022-06-30 09263777 d:RevaluationReserve 2021-06-30 09263777 d:RetainedEarningsAccumulatedLosses 2022-06-30 09263777 d:RetainedEarningsAccumulatedLosses 2021-06-30 09263777 c:FRS102 2021-07-01 2022-06-30 09263777 c:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 09263777 c:FullAccounts 2021-07-01 2022-06-30 09263777 c:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure

Registered number: 09263777

HP (ACTON) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022


HP (ACTON) LIMITED

CONTENTS

	Page
Balance sheet	1
Notes to the financial statements	2 - 4


HP (ACTON) LIMITED REGISTERED NUMBER:09263777

BALANCE SHEET

AS AT 30 JUNE 2022

		2022		2021
Note		£		£

Fixed assets
Investment property	4		250,000		175,000
Current assets
Debtors: amounts falling due within one year	5	5,450		200
Cash at bank and in hand		5,583		14,277
		11,033		14,477
Creditors: amounts falling due within one year	6	(64,863)		(81,170)
Net current liabilities			(53,830)		(66,693)
Total assets less current liabilities			196,170		108,307
Provisions for liabilities
Deferred tax			(24,836)		(4,625)
Net assets			171,334		103,682

Capital and reserves
Called up share capital	200	200
Revaluation reserve	107,032	31,437
Profit and loss account	64,102	72,045
	171,334	103,682

The directors consider 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 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.

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 income and retained earnings 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 by:

Mr. P.R. Noott

Director

Date: 23 March 2023

The notes on pages 2 to 4 form part of these financial statements.

Page 1


HP (ACTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

1.	General information

HP (Acton) Limited ("the Company") is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office and principal place of business is 135 Worcester Road, Hagley, West Midlands, DY9 0NW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

In the opinion of the directors, continued financial support from related entities will be available such that the company will continue to satisfy its financial commitments.
On the basis of this opinion, the financial statements have been prepared on a going concern basis. If, for whatever reason, the necessary financial support is not forthcoming, then this basis may be inappropriate.

2.3

Revenue

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, rebates, value added tax and other sales taxes.

2.4

Investment property

Investment property is carried at fair value determined annually by the directors 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 the statement of income and retained earnings.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Page 2


HP (ACTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet 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.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 July 2021	175,000
	Surplus on revaluation	75,000
	At 30 June 2022	250,000

The 2022 valuations were made by the directors, on an open market value for existing use basis.

The historical cost of the investment property is £138,343 (2021: £138,343).

Page 3


HP (ACTON) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

Debtors

					2022	2021
					£	£


Trade debtors	5,250	-
Called up share capital not paid	200	200
	5,450	200

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	-	675
Amounts owed to related parties	56,000	72,000
Corporation tax	3,222	3,000
Other taxation and social security	875	729
Accruals and deferred income	4,766	4,766
	64,863	81,170

Page 4