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REGISTERED NUMBER: 09478005 (England and Wales)














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: A Harris
D J Harris





REGISTERED OFFICE: 5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR





REGISTERED NUMBER: 09478005 (England and Wales)





ACCOUNTANTS: Nagler Simmons
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 93,004 253,713
Investment property 5 2,850,135 2,847,882
2,943,139 3,101,595

CURRENT ASSETS
Debtors 6 948,857 898,148
Cash at bank and in hand 162,090 155,933
1,110,947 1,054,081
CREDITORS
Amounts falling due within one year 7 2,643,067 2,607,806
NET CURRENT LIABILITIES (1,532,120 ) (1,553,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,411,019

1,547,870

CREDITORS
Amounts falling due after more than
one year

8

(754,906

)

(803,059

)

PROVISIONS FOR LIABILITIES (82,731 ) (63,649 )
NET ASSETS 573,382 681,162

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 100 100
Fair value reserve 10 260,146 273,562
Retained earnings 10 313,136 407,500
SHAREHOLDERS' FUNDS 573,382 681,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 September 2023 and were signed on its behalf by:




D J Harris - Director



A Harris - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 3 (2021 - 3 ) .

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2022 273,639
Additions 8,981
Disposals (182,174 )
At 31 December 2022 100,446
PROVISIONS
At 1 January 2022 19,926

Revaluation adjustments (12,484 )
At 31 December 2022 7,442
NET BOOK VALUE
At 31 December 2022 93,004
At 31 December 2021 253,713


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 2,847,882
Additions 2,253
At 31 December 2022 2,850,135
NET BOOK VALUE
At 31 December 2022 2,850,135
At 31 December 2021 2,847,882

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 - 3,422
Other debtors 948,857 894,726
948,857 898,148

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 45,500 30,617
Trade creditors 8,041 5,789
Taxation and social security 1,815 2,354
Other creditors 2,587,711 2,569,046
2,643,067 2,607,806

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans 754,906 803,059

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 800,406 833,676

The bank loan is secured on the assets of the company.

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2022 407,500 273,562 681,062
Deficit for the year (7,781 ) (7,781 )
Dividends (100,000 ) (100,000 )
Transfer revaluation in year 13,417 (13,416 ) 1
At 31 December 2022 313,136 260,146 573,282

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
£    £   
A Harris
Balance outstanding at start of year - 90,588
Amounts repaid - (90,588 )
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.