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Company No: 12428704 (England and Wales)

HAYLEY WARRENS PROPERTIES LTD

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

HAYLEY WARRENS PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

HAYLEY WARRENS PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
HAYLEY WARRENS PROPERTIES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 495 990
Investment property 4 5,509,249 5,011,044
5,509,744 5,012,034
Current assets
Cash at bank and in hand 5 71,950 91,422
71,950 91,422
Creditors: amounts falling due within one year 6 ( 5,264,880) ( 3,439,153)
Net current liabilities (5,192,930) (3,347,731)
Total assets less current liabilities 316,814 1,664,303
Creditors: amounts falling due after more than one year 7 ( 162,799) ( 1,597,020)
Net assets 154,015 67,283
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 153,915 67,183
Total shareholder's funds 154,015 67,283

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Hayley Warrens Properties Ltd (registered number: 12428704) were approved and authorised for issue by the Director. They were signed on its behalf by:

A. J. Marcus
Director

29 September 2023

HAYLEY WARRENS PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
HAYLEY WARRENS PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hayley Warrens Properties Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets
and liabilities like trade and other debtors and creditors, loans from banks and loans from related parties.

(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially
recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of
impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present
value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is
recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled,
or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c)
control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to
an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price,
unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business
from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they
are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently
measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is
discharged, cancelled or expires.

(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a
legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2022 1,980 1,980
At 30 June 2023 1,980 1,980
Accumulated depreciation
At 01 July 2022 990 990
Charge for the financial year 495 495
At 30 June 2023 1,485 1,485
Net book value
At 30 June 2023 495 495
At 30 June 2022 990 990

4. Investment property

Investment property
£
Valuation
As at 01 July 2022 5,011,044
Additions 498,205
As at 30 June 2023 5,509,249

Valuation

The 2023 valuations were made by the directors, on an open market value for existing use basis

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 71,950 91,422

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 1,621,080 0
Trade creditors 0 50,995
Amounts owed to associates 2,278,600 0
Taxation and social security 24,299 18,741
Other creditors 1,340,901 3,369,417
5,264,880 3,439,153

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 162,799 1,597,020

The bank loans are secured by a fixed charge on the relevant properties held in the company.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100