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REGISTERED NUMBER:
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HGJ PROPERTY LIMITED |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30TH NOVEMBER 2017 |
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REGISTERED NUMBER:
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HGJ PROPERTY LIMITED |
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED |
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30TH NOVEMBER 2017 |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 | to | 6 |
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HGJ PROPERTY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH NOVEMBER 2017 |
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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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STATEMENT OF FINANCIAL POSITION |
30TH NOVEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 |
8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
on its behalf by: |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH NOVEMBER 2017 |
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1. | STATUTORY INFORMATION |
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HGJ Property Limited is a private company limited by shares and incorporated in England and |
Wales. |
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The registered office address is Murdock Road, Dorcan, Swindon, Wiltshire SN3 5HY. |
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The financial statements are presented in British Pounds (GBP), which is the company's functional |
and presentational currency. |
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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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The directors have chosen to early adopt the Amendments to Financial Reporting Standard 102 |
"The Financial Reporting Standard applicable in the UK and Republic of Ireland" Triennial Review |
2017. |
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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 |
Revenue 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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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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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 year |
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. |
HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2016 - NIL). |
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4. | AUDITORS' REMUNERATION |
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The fees of £1,650 (2016: £1,500) payable to the company's auditors for the audit of the |
company are incorporated in the charge to GJ Handy Limited for the HGJ Holdings Group as a |
whole. |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Freehold |
property |
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COST |
At 1st December 2016 |
and 30th November 2017 |
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DEPRECIATION |
At 1st December 2016 |
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Charge for year |
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At 30th November 2017 |
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NET BOOK VALUE |
At 30th November 2017 |
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At 30th November 2016 |
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In accordance with section 16.4A of Amendments to Financial Reporting Standard 102 "The |
Financial Reporting Standard applicable in the UK and Republic of Ireland" Triennial Review 2017, |
the company has chosen to apply the cost model to investment property that is rented to another |
group entity. |
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The carrying value of the investment property that is rented to another group entity is noted |
above. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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Other loans (see note 9) |
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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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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Other loans (see note 9) |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2017 | 2016 |
£ | £ |
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 one and two years: |
Other loans - 1-2 years | 209,119 |
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Amounts falling due between two and five years: |
Other loans - 2-5 years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdraft |
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Other loans |
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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. |
HGJ PROPERTY LIMITED (REGISTERED NUMBER: 09846517) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH NOVEMBER 2017 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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13. | ULTIMATE CONTROLLING PARTY |
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HGJ Holdings Limited is the company's immediate and ultimate parent company. The address from |
where financial statements for the company can be obtained is Murdock Road, Dorcan, Swindon, |
Wiltshire SN3 5HY. |
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The ultimate controlling party at the yearend is considered to be Mr D L Belcher, being the |
majority shareholder of HGJ Holdings Limited. Post yearend the ultimate controlling party has |
changed to Mr S A Belcher. |