Holborn Estates Limited
Holborn Estates Limited
Registered number: 03238809
Unaudited Financial Statements
For The Year Ended
31 March 2023
Ash & Associates
Chartered Accountants
First Floor
1A Leadenhall Market
London
EC3V 1LR
Holborn Estates Limited
Unaudited Financial Statements
For The Year Ended
31 March 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Holborn Estates Limited
Balance Sheet
As At
31 March 2023
Balance Sheet
Registered number:
03238809
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investment Properties | 5 |
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| Investments | 6 |
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| CURRENT ASSETS | |||||
| Debtors | 7 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 8 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 238,140 | 239,537 | |||
Holborn Estates Limited
Balance Sheet (continued)
As At
31 March 2023
On behalf of the board
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Holborn Estates Limited
Notes to the Financial Statements
For The Year Ended
31 March 2023
Notes to the Financial Statements
1.
General Information
Holborn Estates Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03238809
. The registered office is 23 Eton Court, Eton Avenue, London, NW3 3HJ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
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2.4.
Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Holborn Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
2.6.
Preparation of consolidated financial statements
The financial statements contain information about Holborn Estates Limited as an individual company anddo not contain consolidated financial information as the parent of a group. The company is exempt underSection 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
2.7.
Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
4.
Tangible Assets
| Computer Equipment | |
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| Depreciation | |
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| Net Book Value | |
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5.
Investment Property
| 2023 | |
|---|---|
| £ | |
| Fair Value | |
| As at
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If investment property had been accounted for under historical cost accounting rules, the amounts would be:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Cost | 47,079 | 47,079 | |
Increase in valuation in 2021 - £4,260
Increase in valuation in 2022 - £4,441
Holborn Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
6.
Investments
| Subsidiaries | |
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| Cost | |
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| Provision | |
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| Net Book Value | |
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Fixed asset investments represent a 100% shareholding in group undertaking Golkonda Limited.
7.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Tax account |
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| Directors' loan accounts |
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| Amounts owed by group undertakings |
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Amounts owed by group undertakings are interest free loans, repayable on demand from Golkonda Limited (£119,563.89).
8.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Corporation tax |
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| Other creditor's |
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| Accruals and deferred income |
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10.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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| £ | £ | £ | £ | £ | |
| MS AMEER UNISA-BEGUM |
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- |
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The above loan is unsecured, interest free and repayable on demand.
Holborn Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2023
11.
Related Party Transactions
Included within other creditors is an amount of £3,562 (2022: NIL) owed to Brixton Hill Limited, a company associated by virtue of common management and control.
12.
Ultimate Controlling Party
Mr Stefan Alexander Sohel Bateson and Ms Ameer Unisa-Begum are the directors of the company and hold 65% and 35% of the shares of the company respectively.