Hughtin Properties Limited - Accounts to registrar (filleted) - small 23.2.5

Hughtin Properties Limited - Accounts to registrar (filleted) - small 23.2.5

HUGHTIN PROPERTIES LIMITED - Company Information

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REGISTERED NUMBER: 11298435 (England and Wales)















Financial Statements for the Year Ended 30 April 2023

for

Hughtin Properties Limited
Hughtin Properties Limited (Registered number: 11298435)






Contents of the Financial Statements
for the Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hughtin Properties Limited

Company Information
for the Year Ended 30 April 2023







DIRECTORS: N Stuttard
S Howat





REGISTERED OFFICE: 55 Broadway
London
SW1H 0BB





REGISTERED NUMBER: 11298435 (England and Wales)





Page 1
Hughtin Properties Limited (Registered number: 11298435)

Balance Sheet
30 April 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 52,663 66,109
Investment property 5 1,728,228 1,728,228
1,780,891 1,794,337

CURRENT ASSETS
Debtors 6 177,649 109,253
Cash at bank 1,612 2,953
179,261 112,206
CREDITORS
Amounts falling due within one year 7 1,392,433 1,357,907
NET CURRENT LIABILITIES (1,213,172 ) (1,245,701 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
567,719
548,636

PROVISIONS FOR LIABILITIES 151,416 154,777
NET ASSETS 416,303 393,859

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8 416,203 393,759
416,303 393,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 notes form part of these financial statements

Page 2 continued...
Hughtin Properties Limited (Registered number: 11298435)

Balance Sheet - continued
30 April 2023


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 19 December 2023 and were signed on its behalf by:





N Stuttard - Director


The notes form part of these financial statements

Page 3
Hughtin Properties Limited (Registered number: 11298435)

Notes to the Financial Statements
for the Year Ended 30 April 2023

1. STATUTORY INFORMATION

Hughtin Properties Limited 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.

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 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.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

Page 4 continued...
Hughtin Properties Limited (Registered number: 11298435)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 May 2022
and 30 April 2023 67,229
DEPRECIATION
At 1 May 2022 1,120
Charge for year 13,446
At 30 April 2023 14,566
NET BOOK VALUE
At 30 April 2023 52,663
At 30 April 2022 66,109

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 1,728,228
NET BOOK VALUE
At 30 April 2023 1,728,228
At 30 April 2022 1,728,228

Fair value at 30 April 2023 is represented by:
£   
Valuation in 2021 553,000
Cost 1,175,228
1,728,228

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 29,269 -
Other debtors 84,862 84,862
Prepayments and accrued income 63,518 24,391
177,649 109,253

Page 5 continued...
Hughtin Properties Limited (Registered number: 11298435)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade creditors 16,058 -
Social security and other taxes 4,617 -
Other creditors 1,370,508 1,357,007
Accruals and deferred income 1,250 900
1,392,433 1,357,907

8. RESERVES

At 30 April 2023, the company's distributable reserves were a debit balance of £136,797 (2022: debit balance of £159,241).

All revaluations which remain unrealised at the balance sheet date are not distributable.

9. RELATED PARTY DISCLOSURES

During the year the company charged rent to James Wellesley Limited, a company that the directors are also directors and shareholders in, to the value of £48.782 (2022: £24,391). At the year end, including accrued income, £78,051 (2022: £nil) was owed by James Wellesley Limited.

During the year, the company received loans from London Projects Limited, a company that the directors are also directors and shareholders in, to the value of £23,500 (2022: £10,000) and had costs paid for by London Projects Limited to the value of £nil (2022: £399,360). At the year end £422,860 (2022: £409,360) was owed to London Projects Limited.

At the year end, a loan balance was due to Roswell Industrial Limited, a company that the directors are also directors and shareholders in, to the value of £874,476 (2022: £874,476).

Page 6