Registered number
04384099
Hartdene Limited
Filleted Accounts
31 March 2022
Hartdene Limited
Registered number: 04384099
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 550,000 1,327,105
Investments 4 60,030 -
610,030 1,327,105
Current assets
Debtors 5 3,585 13,450
Cash at bank and in hand 59,702 16,416
63,287 29,866
Creditors: amounts falling due within one year 6 (43,627) (6,621)
Net current assets 19,660 23,245
Total assets less current liabilities 629,690 1,350,350
Creditors: amounts falling due after more than one year 7 (74,818) (547,941)
Provisions for liabilities (42,615) (108,146)
Net assets 512,257 694,263
Capital and reserves
Called up share capital 100 100
Fair value reserve 9 122,677 665,677
Profit and loss account 389,480 28,486
Shareholder's funds 512,257 694,263
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs L Hartley-Cwik
Director
Approved by the board on 13 August 2022
Hartdene Limited
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention, as modified by the revaluation of certain assets 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 for the letting of investment properties, net of discounts and value added tax.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Investment property is measured initially at cost but revalued to fair value at each reporting date and any changes in fair value are recognised in the profit and loss account. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment property 0%
Investments
Investments are listed at cost less any impairment losses.
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.
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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Total
£ £
Cost
At 1 April 2021 1,327,105 1,327,105
Revaluation (8,105) (8,105)
Disposals (769,000) (769,000)
At 31 March 2022 550,000 550,000
Depreciation
At 1 April 2021 - -
At 31 March 2022 - -
Net book value
At 31 March 2022 550,000 550,000
At 31 March 2021 1,327,105 1,327,105
Freehold land and buildings: 2022 2021
£ £
Historical cost 325,712 553,282
Cumulative depreciation based on historical cost - -
325,712 553,282
The director revalued the investment properties on 31 March 2022 and the fair value adjustment is included in the profit and loss account.
4 Investments
Unlisted
investments Total
£ £
Cost
At 1 April 2021 - -
Additions 60,030 60,030
At 31 March 2022 60,030 60,030
Historical cost
At 1 April 2021 -
At 31 March 2022 60,030
5 Debtors 2022 2021
£ £
Other debtors 3,585 13,450
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 3,600 1,200
Director's loan account 38 -
Taxation and social security costs 39,437 2,401
Other creditors 552 3,020
43,627 6,621
7 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 13,200 16,800
Other loans 61,618 531,141
74,818 547,941
8 Loans 2022 2021
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 61,618 123,249
Instalments falling due for payment after more than five years - -
61,618 123,249
Secured loans 61,618 531,141
The loan outstanding of £61,618 (2021 £531,141) is secured on the investment property to which it relates.
9 Fair valuation reserve 2022 2021
£ £
At 1 April 2021 665,677 425,253
Transfer to reserve - sale of property (543,000) 240,424
At 31 March 2022 122,677 665,677
10 Controlling party
The company is controlled by the director who owns 100% of the shares.
11 Other information
Hartdene Limited is a private company limited by shares and incorporated in England. Its registered office is:
63 Salisbury Road
Farnborough
Hampshire
GU14 7AG
The principal place of business is 45 Foxhill Drive, Rossendale BB4 9LD
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