Registration number:
Prepared for the registrar
for the
Year Ended 31 December 2023
Hamberley Properties FV (Dorking) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Hamberley Properties FV (Dorking) Limited
Company Information
Directors |
D Kay D J H McAlear T W Street |
Registered office |
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Auditors |
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Hamberley Properties FV (Dorking) Limited
(Registration number: 11926312)
Balance Sheet as at 31 December 2023
Note |
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2022 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current (liabilities)/assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Shareholder loans |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Hamberley Properties FV (Dorking) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Group accounts not prepared
Departures from Companies Act requirements
The company has not presented a cash flow in its financial statements on the basis that it is a small group. |
Going concern
After reviewing the copmany's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty. |
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold buildings |
2% on cost |
Freehold land is not depreciated.
Hamberley Properties FV (Dorking) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash andare subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Borrowings
Certain loans from group undertakings are presented as shareholder loans within equity on the basis that lender has no recourse to demand repayment of, or a fixed rate of return on the loans, which rank pari passu with the ordinary shares of the company.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Recognition and measurement
Hamberley Properties FV (Dorking) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Financial instruments (continued)
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was as follows:
2023 |
2022 |
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Directors |
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Hamberley Properties FV (Dorking) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Freehold land and buildings |
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Cost |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Freehold land of £3,708,155 (2022 - £3,708,155) is not depreciated.
The directors have not depreciated the freehold property on the basis that the asset is still under construction and is not yet available for commercial use.
Capitalised borrowing costs
Within land and buildings are capitalised borrowing costs of £
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost and carrying amount |
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At 1 January 2023 and at 31 December 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2022 |
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Subsidiary undertakings |
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England and Wales |
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Subsidiary undertakings |
Hamberley Care FV (Dorking) Limited The principal activity of Hamberley Care FV (Dorking) Limited is |
Hamberley Care FV (Dorking) Limited has the same registered office as Hamberley Properties FV (Dorking) Limited.
Hamberley Properties FV (Dorking) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Debtors |
2023 |
2022 |
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VAT |
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Prepayments |
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169,580 |
587,728 |
Creditors |
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Amounts due to group undertakings |
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Accrued expenses |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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The bank loans are secured over a first legal charge over the freehold land and buildings and fixed and floating charges over all current and further assets of the company. There are also debenture and cross guarantees over the assets of the group. the effective interest rate applicable to the loan was Margin plus SONIA. Loans are repayable in full, 60 days after completion. Completion is expected towards the end of 2024, and therefore loans will be repayable in 2025.
Financial commitments |
At the year end, the company had contracted but not provided for £4,083,605 (2022 - £9,235,796) on the main construction contract.
Parent and ultimate parent undertaking |
The company's immediate parent undertaking is
The ultimate parent is
Hamberley Properties FV (Dorking) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Disclosure under Section 444(5B) CA 2006 relating to the independent auditor's report |
As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. Accordingly, the Independent Auditors’ Report has also been omitted.