REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2022 |
for |
HARRIS HOMES RENTS AND LETTINGS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2022 |
for |
HARRIS HOMES RENTS AND LETTINGS LIMITED |
HARRIS HOMES RENTS AND LETTINGS LIMITED (REGISTERED NUMBER: 09478005) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HARRIS HOMES RENTS AND LETTINGS LIMITED |
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 Beaumont Gate |
Shenley Hill |
Radlett |
WD7 7AR |
HARRIS HOMES RENTS AND LETTINGS LIMITED (REGISTERED NUMBER: 09478005) |
Balance Sheet |
31 DECEMBER 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
HARRIS HOMES RENTS AND LETTINGS LIMITED (REGISTERED NUMBER: 09478005) |
Balance Sheet - continued |
31 DECEMBER 2022 |
31.12.22 | 31.12.21 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HARRIS HOMES RENTS AND LETTINGS LIMITED (REGISTERED NUMBER: 09478005) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Harris Homes Rents and Lettings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future having adequate funds to meet its liabilities as they fall due. The directors consider this basis to be appropriate, as the continued provision of adequate facilities by the company's directors, bankers and other creditors is expected to be forthcoming. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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 balance sheet date. |
HARRIS HOMES RENTS AND LETTINGS LIMITED (REGISTERED NUMBER: 09478005) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
Fixed asset investments |
Listed investments are measured at fair value using their publicly traded price. Changes in their value are recognised as a profit or loss for the year. All other fixed asset investments have a sufficiently reliable market price, so are also measured at fair value, with changes in value recorded through the non-distributable fair value reserve as a profit or loss for the year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1 January 2022 |
Additions |
Disposals | ( |
) |
At 31 December 2022 |
PROVISIONS |
At 1 January 2022 | 19,926 |
Revaluation adjustments | (12,484 | ) |
At 31 December 2022 | 7,442 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
HARRIS HOMES RENTS AND LETTINGS LIMITED (REGISTERED NUMBER: 09478005) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2022 |
Additions |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Fair value at 31 December 2022 is represented by: |
£ |
Valuation in 2021 | 334,997 |
Cost | 2,515,138 |
2,850,135 |
If the investment properties had not been revalued they would have been included at the following historical cost: |
31.12.22 | 31.12.21 |
£ | £ |
Cost | 2,512,884 | 2,512,884 |
The investment properties have been valued on a fair value basis on 31 December 2022 by the directors, A. Harris and D. Harris . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade debtors |
Other debtors |
HARRIS HOMES RENTS AND LETTINGS LIMITED (REGISTERED NUMBER: 09478005) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 709,406 | 772,442 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.12.22 | 31.12.21 |
£ | £ |
Bank loans |
The bank loan is secured on the assets of the company. |
10. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 January 2022 | 681,062 |
Deficit for the year | ( |
) | ( |
) |
Dividends | ( |
) | ( |
) |
Transfer revaluation in year | 13,417 | (13,416 | ) | 1 |
At 31 December 2022 | 573,282 |
HARRIS HOMES RENTS AND LETTINGS LIMITED (REGISTERED NUMBER: 09478005) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021: |
31.12.22 | 31.12.21 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
12. | RELATED PARTY DISCLOSURES |
Included in creditors falling due within one year is an amount owed to Sandalex Limited, a company under common control, of £2,433,536 (2021: £2,427,589). Also included in creditors falling due within one year are loans to the directors and their close family members of £124,087 (2021: £117,097). |
Included in other debtors is an amount due by Harris Homes Rents and Lettings 1 Limited of £611,872 (2021: £534,089) and by Harris Homes Rents and Lettings 2 Limited of £325,683 (2021: £320,843). These are both companies under common control. |
There are no terms as to interest or repayment in respect of any of these balances. |