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REGISTERED NUMBER:
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HGJ PROPERTY LIMITED |
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REPORT OF THE DIRECTORS AND |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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REGISTERED NUMBER:
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HGJ PROPERTY LIMITED |
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REPORT OF THE DIRECTORS AND |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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Company Information | 1 |
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Report of the Directors | 2 | to | 3 |
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Report of the Independent Auditors | 4 | to | 5 |
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Statement of Comprehensive Income | 6 |
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Statement of Financial Position | 7 |
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Statement of Changes in Equity | 8 |
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Notes to the Financial Statements | 9 | to | 11 |
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HGJ PROPERTY LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditors |
43-45 Devizes Road |
SWINDON |
Wiltshire |
SN1 4BG |
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BANKERS: |
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84 Commercial Road |
SWINDON |
Wiltshire |
SN1 5NW |
HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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REPORT OF THE DIRECTORS |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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The directors present their report with the financial statements of the company for the period 28th October 2015 to 30th November 2016. |
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INCORPORATION |
The company was incorporated on 28th October 2015 and commenced trading on 1st February 2016. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the period under review was that of The principal activity of the |
company is to provide rental of its properties as a result of a company reconstruction of its subsidiary. |
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DIRECTOR |
period from then to the date of this report. |
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Both the directors who are eligible offer themselves for election at the forthcoming first Annual General |
Meeting. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in |
accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that |
law the directors have elected to prepare the financial statements in accordance with United Kingdom |
Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), |
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and |
Republic of Ireland'. Under company law the directors must not approve the financial statements unless |
they are satisfied that they give a true and fair view of the state of affairs of the company and of the |
profit or loss of the company for that period. In preparing these financial statements, the directors are |
required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the company will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and |
explain the company's transactions and disclose with reasonable accuracy at any time the financial |
position of the company and enable them to ensure that the financial statements comply with the |
Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence |
for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the |
Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the |
steps that he ought to have taken as a director in order to make himself aware of any relevant audit |
information and to establish that the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Morris Owen, will be proposed for re-appointment at the forthcoming Annual General |
Meeting. |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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REPORT OF THE DIRECTORS |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 |
relating to small companies. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HGJ PROPERTY LIMITED |
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We have audited the financial statements of HGJ Property Limited for the period ended |
30th November 2016 on pages six to eleven. The financial reporting framework that has been applied in |
their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally |
Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting |
Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 |
of the Companies Act 2006. Our audit work has been undertaken so that we might state to the |
company's members those matters we are required to state to them in a Report of the Auditors and for |
no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to |
anyone other than the company and the company's members as a body, for our audit work, for this |
report, or for the opinions we have formed. |
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Respective responsibilities of directors and auditors |
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Scope of the audit of the financial statements |
An audit involves obtaining evidence about the amounts and disclosures in the financial statements |
sufficient to give reasonable assurance that the financial statements are free from material |
misstatement, whether caused by fraud or error. This includes an assessment of: whether the |
accounting policies are appropriate to the company's circumstances and have been consistently applied |
and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; |
and the overall presentation of the financial statements. In addition, we read all the financial and |
non-financial information in the Report of the Directors to identify material inconsistencies with the |
audited financial statements and to identify any information that is apparently materially incorrect based |
on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If |
we become aware of any apparent material misstatements or inconsistencies we consider the |
implications for our report. |
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Opinion on financial statements |
In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 30th November 2016 and of its
profit for the period then ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Opinion on other matter prescribed by the Companies Act 2006 |
In our opinion the information given in the Report of the Directors for the financial year for which the |
financial statements are prepared is consistent with the financial statements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
HGJ PROPERTY LIMITED |
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Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us |
to report to you if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
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the directors were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
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for and on behalf of
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Statutory Auditors |
43-45 Devizes Road |
SWINDON |
Wiltshire |
SN1 4BG |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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STATEMENT OF COMPREHENSIVE INCOME |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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Notes | £ |
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TURNOVER |
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Administrative expenses |
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OPERATING PROFIT |
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Interest payable and similar expenses |
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PROFIT BEFORE TAXATION |
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Tax on profit |
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PROFIT FOR THE FINANCIAL
PERIOD |
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OTHER COMPREHENSIVE INCOME | - |
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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STATEMENT OF FINANCIAL POSITION |
30TH NOVEMBER 2016 |
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Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than
one year |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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STATEMENT OF CHANGES IN EQUITY |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Changes in equity |
Issue of share capital |
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Total comprehensive income | - |
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Balance at 30th November 2016 |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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1. | STATUTORY INFORMATION |
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HGJ Property Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A |
"Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable |
in the UK and Republic of Ireland" and the Companies Act 2006. |
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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. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Freehold property | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the statement of financial position date. |
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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 period |
end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Financial instruments |
Financial instruments are classified by the directors as basic or advanced following the conditions |
in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the |
effective interest method. The only advanced instruments recognised by the company are |
derivatives. Derivative financial instruments are initially recorded at cost and thereafter at fair |
value with changes recognised in arriving at profit before tax. Any derivative assets would be |
included in other debtors and derivative liabilities would be included included in other creditors. |
HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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3. | TANGIBLE FIXED ASSETS |
Freehold |
property |
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COST |
Additions |
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At 30th November 2016 |
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DEPRECIATION |
Charge for period |
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At 30th November 2016 |
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NET BOOK VALUE |
At 30th November 2016 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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Bank loans and overdrafts (see note 7) |
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Other loans (see note 7) |
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Trade creditors |
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Amounts owed to group undertakings |
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Corporation tax |
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Accruals and deferred income |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
£ |
Other loans (see note 7) |
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7. | LOANS |
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An analysis of the maturity of loans is given below: |
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Amounts falling due within one year or on demand: |
Bank overdrafts |
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Other loans |
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Amounts falling due between two and five years: |
Other loans - 2-5 years |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 28TH OCTOBER 2015 TO 30TH NOVEMBER 2016 |
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8. | SECURED DEBTS |
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The company has a loan and overdraft with the bank which are secured by the following: |
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- A debenture dated 19th November 2015 over all assets of the company. |
- A legal charge dated 1 February 2016 over the freehold property of Hobley Drive, Swindon and |
Murdock Road, Swindon. |
- A unlimited inter-company guarantee dated 19th November 2015 for G J Handy & Company |
Limited and HGJ Holdings Limited. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | £1 | 100 |
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10. | ULTIMATE CONTROLLING PARTY |
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On 4 November 2015 the shares were transferred to HGJ Holdings Limited and is the company's |
immediate and ultimate parent company. |
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The address from where financial statements for the company can be obtained can be found on |
this company's information pages. |
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The ultimate controlling party is considered to be Mr D L Belcher being the majority shareholder of |
HGJ Holdings Limited. |