| Charles Hunt (Holdings) Limited |
| Registered number: |
10230124 |
| Balance Sheet |
| as at 31 March 2023 |
|
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
4 |
|
|
7,741,571 |
|
|
7,925,066 |
|
| Current assets |
| Debtors |
5 |
|
50,283 |
|
|
44,528 |
| Cash at bank and in hand |
|
|
206,002 |
|
|
64,633 |
|
|
|
256,285 |
|
|
109,161 |
|
| Creditors: amounts falling due within one year |
6 |
|
(526,279) |
|
|
(524,628) |
|
| Net current liabilities |
|
|
|
(269,994) |
|
|
(415,467) |
|
| Total assets less current liabilities |
|
|
|
7,471,577 |
|
|
7,509,599 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(1,160,529) |
|
|
(1,330,180) |
|
| Provisions for liabilities - Deferred tax |
9 |
|
|
(827,002) |
|
|
(864,309) |
|
|
| Net assets |
|
|
|
5,484,046 |
|
|
5,315,110 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
25,000 |
|
|
25,000 |
| Profit and loss account |
|
|
|
5,459,046 |
|
|
5,290,110 |
|
| Shareholders' funds |
|
|
|
5,484,046 |
|
|
5,315,110 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| P A Hunt |
| Director |
| Approved by the board on 24 January 2024 |
|
| Charles Hunt (Holdings) Limited |
| Notes to the Accounts |
| for the year ended 31 March 2023 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention, as modified by the valuation of investment properties, and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 rental of property and the rendering of services. |
|
|
Tangible fixed assets |
|
Investment property is included at fair value. Gains are recognised in profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
|
|
Plant and machinery and vehicles are stated at cost less depreciation. These assets are depreciated over 4 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Government grants |
|
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in "other operating income" within profit and loss in the same period as the related expenditure. The company has not benefited from any other forms of government assistance. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
5 |
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
2023 |
|
2022 |
| £ |
£ |
|
Current corporation tax at 19% on the profit for the year |
41,460 |
|
13,071 |
|
Deferred taxation : |
|
Effect of increase in the rate of tax |
- |
|
169,315 |
|
Charge for the year |
- |
|
536,159 |
|
|
|
|
|
|
41,460 |
|
718,545 |
|
|
|
|
|
|
|
|
|
| 4 |
Tangible Fixed Assets |
| Freehold |
Long |
Plant |
| Leasehold |
| Total |
| £ |
£ |
£ |
£ |
|
Cost/Fair value |
|
At 1 April 2022 |
6,757,743 |
|
1,141,240 |
|
31,300 |
|
7,930,283 |
|
Additions |
189,485 |
|
- |
|
- |
|
189,485 |
|
Disposals |
(365,155) |
|
- |
|
- |
|
(365,155) |
|
Depreciation brought forward |
- |
|
- |
|
(5,217) |
|
(5,217) |
|
Charge for year |
- |
|
- |
|
(7,825) |
|
(7,825) |
|
At 31 March 2023 |
6,582,073 |
|
1,141,240 |
|
18,258 |
|
7,741,571 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 31 March 2023 |
2,802,701 |
|
532,256 |
|
|
|
|
|
|
|
|
|
|
The basis of valuation is market value which is equivalent to fair value. |
|
|
| 5 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
24,718 |
|
27,627 |
|
Prepayments |
25,565 |
|
16,901 |
|
|
|
|
|
|
50,283 |
|
44,528 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bank loans and overdraft |
14,751 |
|
173,676 |
|
Deferred income |
20,730 |
|
17,811 |
|
Tenant deposits |
116,298 |
|
107,935 |
|
Hire purchase |
9,465 |
|
9,466 |
|
Corporation tax |
78,767 |
|
13,071 |
|
Other taxes and social security costs |
12,476 |
|
11,748 |
|
Other creditors |
273,792 |
|
190,921 |
|
|
|
|
|
|
526,279 |
|
524,628 |
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bank loans |
1,155,723 |
|
1,315,909 |
|
Obligations under finance lease and hire purchase contracts |
4,806 |
|
14,271 |
|
|
|
|
|
|
1,160,529 |
|
1,330,180 |
|
|
|
|
|
|
|
|
|
| 8 |
Loan |
2023 |
|
2022 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
1,132,846 |
|
1,410,835 |
|
|
|
|
|
|
|
|
|
|
The loans are secured on the investment properties. |
|
| 9 |
Provision for liabilities |
2023 |
|
2022 |
|
Deferred taxation |
£ |
£ |
|
|
At 1 May 2022 |
864,309 |
|
158,835 |
|
Charge for the year to the profit and loss account |
(37,307) |
|
705,474 |
|
At 31 March 2023 |
827,002 |
|
864,309 |
|
|
|
|
|
|
|
|
|
|
The provision for deferred taxation represents the corporation tax which would be payable should the Company sell its freehold property for the value shown in these accounts. The rate of tax used when calculating the provision is 25% (2022:25%). |
|
|
As legislated by the 2021 Finance Act, the rate of corporation tax increased in 2023 to a maximum of 25%. |
|
| 10 |
Other information |
|
|
Charles Hunt (Holdings) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Cavendish House |
|
Plumpton Road |
|
Hoddesdon |
|
Herts |
|
EN11 0LB |
