Hosking Property Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 11824790 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

HOSKING PROPERTY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Hosking

Dr S K E Hosking

SECRETARY:

R Hosking

REGISTERED OFFICE:

Oaklands

Rectory Road

Woodham Walter

Maldon

Essex

CM9 6RD

REGISTERED NUMBER:

11824790 (England and Wales)

ACCOUNTANTS:

Lucentum Business Services Ltd

Kingfisher House

11 Hoffmanns Way

Chelmsford

Essex

CM1 1GU

FIXED ASSETS

Tangible assets

5

8,488

24,549

Investment property

6

1,200,000

1,200,000

1,208,488

1,224,549

CURRENT ASSETS

Debtors

7

529

1,128

Cash at bank and in hand

19,141

8,392

19,670

9,520

CREDITORS

Amounts falling due within one year

8

232,971

342,367

NET CURRENT LIABILITIES

(213,301

)

(332,847

)

TOTAL ASSETS LESS CURRENT LIABILITIES

995,187

891,702

CREDITORS

Amounts falling due after more than one year

9

(910,525

)

(838,644

)

PROVISIONS FOR LIABILITIES

(16,758

)

(12,736

)

NET ASSETS

67,904

40,322

CAPITAL AND RESERVES

Called up share capital

11

2

2

Fair value reserve

12

50,273

54,295

Retained earnings

17,629

(13,975

)

SHAREHOLDERS' FUNDS

67,904

40,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 December 2023 and were signed on its behalf by:

R Hosking - Director

1.	STATUTORY INFORMATION

Hosking 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 (£).

Monetary amounts are rounded to the nearest Pound (£).

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 revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

Straight line over 3 years

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment properties are properties held to earn rentals and/or capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investments properties are included in profit or loss in the period in which they arise.

Taxation

Taxation for the year 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 year 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2022

and 31 July 2023

48,184

DEPRECIATION

At 1 August 2022

23,635

Charge for year

16,061

At 31 July 2023

39,696

NET BOOK VALUE

At 31 July 2023

8,488

At 31 July 2022

24,549

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2022

and 31 July 2023

1,200,000

NET BOOK VALUE

At 31 July 2023

1,200,000

At 31 July 2022

1,200,000

Fair value at 31 July 2023 is represented by:

£

Valuation in 2021

6,710

Valuation in 2022

60,320

Cost

1,132,970

1,200,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

529

1,128

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

11,468

2,424

Other creditors

221,503

339,943

232,971

342,367

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

910,525

838,644

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

910,525

838,644

10.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

910,525

838,644

The properties are secured by way of legal mortgage and the ancillary assets by way of fixed charge.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

2

Ordinary

£1

2

2

12.

RESERVES

Fair

value

reserve

£

At 1 August 2022

54,295

Reserve transfer

(4,022

)

At 31 July 2023

50,273

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors at the balance sheet date is an amount of £220,260 (2022: £339,886) due to the directors of the company. Interest is charged at 2.09% on the loan.