HSCPM Limited - Accounts to registrar (filleted) - small 23.2.5
HSCPM Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Hurford Salvi Carr Property |
| Management Limited |
| Audited Financial Statements |
| for the Year Ended 31 July 2023 |
| Hurford Salvi Carr Property |
| Management Limited (Registered number: 03259200) |
| Contents of the Financial Statements |
| for the year ended 31 July 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Hurford Salvi Carr Property |
| Management Limited |
| Company Information |
| for the year ended 31 July 2023 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Independent auditors: |
| Statutory Auditor |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| Hurford Salvi Carr Property |
| Management Limited (Registered number: 03259200) |
| Balance Sheet |
| 31 July 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investments | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current assets |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net assets/(liabilities) | ( |
) |
| Capital and reserves |
| Called up share capital | 10 |
| Retained earnings | ( |
) |
| Shareholders' funds | ( |
) |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Hurford Salvi Carr Property |
| Management Limited (Registered number: 03259200) |
| Notes to the Financial Statements |
| for the year ended 31 July 2023 |
| 1. | Statutory information |
| Hurford Salvi Carr Property Management Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| A summary of principal accounting policies, all of which have been consistently applied throughout the year and the preceding year, is set out below. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a going concern basis. |
| The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Hurford Salvi Carr Property Management Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| Depreciation and amortisation |
| There is estimation uncertainty in calculating depreciation and amortisation on fixed assets, as they are being written down on a straight line basis over their estimated useful economic life, which may not match their actual useful life. |
| Valuation of investments |
| There is estimation uncertainty in calculating impairment of investments, as they are being held at cost less impairment. |
| Hurford Salvi Carr Property |
| Management Limited (Registered number: 03259200) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2023 |
| 2. | Accounting policies - continued |
| Management fees |
| Management fees are the turnover for the period which comprises of management fees receivable for services rendered net of VAT and trade discounts (if any). Property management income is recognised when the service is provided. Surveying income is recognised based on stage of completion. Insurance commission is recognised on the date at which the associated policy is effective from. |
| 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 - 20% and 25% straight line |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Hurford Salvi Carr Property |
| Management Limited (Registered number: 03259200) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2023 |
| 4. | Tangible fixed assets |
| Fixtures |
| and |
| fittings |
| £ |
| Cost |
| At 1 August 2022 |
| and 31 July 2023 |
| Depreciation |
| At 1 August 2022 |
| Charge for year |
| At 31 July 2023 |
| Net book value |
| At 31 July 2023 |
| At 31 July 2022 |
| 5. | Fixed asset investments |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 August 2022 |
| and 31 July 2023 |
| Net book value |
| At 31 July 2023 |
| At 31 July 2022 |
| The Company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: United Kingdom |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: United Kingdom |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: United Kingdom |
| Nature of business: |
| % |
| Class of shares: | holding |
| Hurford Salvi Carr Property |
| Management Limited (Registered number: 03259200) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2023 |
| 5. | Fixed asset investments - continued |
| Registered office: United Kingdom |
| Nature of business: |
| % |
| Class of shares: | holding |
| Registered office: United Kingdom |
| Nature of business: |
| % |
| Class of shares: | holding |
| 6. | Debtors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | Creditors: amounts falling due after more than one year |
| 2023 | 2022 |
| £ | £ |
| Amounts owed to group undertakings |
| Other creditors |
| £190,000 (2022: £190,000) is owed to the parent company, Hurford Salvi Carr Management Limited. The loan is held at transaction price, is unsecured and interest-free. The parent company has confirmed that the loan is not repayable within the next 12 months. |
| 9. | Leasing agreements |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2023 | 2022 |
| £ | £ |
| Within one year |
| Between one and five years |
| Hurford Salvi Carr Property |
| Management Limited (Registered number: 03259200) |
| Notes to the Financial Statements - continued |
| for the year ended 31 July 2023 |
| 10. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 4 | 4 |
| 11. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Auditors' Report was unqualified. |
| for and on behalf of |
| 12. | Other financial commitments |
| The Company entered into a charge (debenture agreement) at 30 January 2018 with Lloyds Bank Plc. The charge consists of fixed and floating charges which cover all the property or undertakings of the Company. More details can be found on Companies House website. |
| 13. | Related party disclosures |
| Included in note 7 within trade creditors is an amount of £99,984 (2022: £99,984) owed to a related party, Hurford Salvi Carr Limited, for transactions occurring within the normal course of business. |
| 14. | Ultimate controlling party |
| The immediate and ultimate parent company is Hurford Salvi Carr Management Limited, a company incorporated in the United Kingdom. |
| There is no single identifiable controlling party. |