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REGISTERED NUMBER: 08710409 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Hadwen Property Limited

Hadwen Property Limited (Registered number: 08710409)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Hadwen Property Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: A Hadwen
Mrs S Hadwen





REGISTERED OFFICE: 1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL





REGISTERED NUMBER: 08710409 (England and Wales)





ACCOUNTANTS: Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

Hadwen Property Limited (Registered number: 08710409)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 34,584 21,678
Investment property 5 1,426,044 1,426,044
1,460,628 1,447,722

CURRENT ASSETS
Debtors 10,650 528
Cash at bank 50,547 22,078
61,197 22,606
CREDITORS
Amounts falling due within one year 71,941 109,035
NET CURRENT LIABILITIES (10,744 ) (86,429 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,449,884

1,361,293

CREDITORS
Amounts falling due after more than one
year

6

(773,897

)

(690,714

)

PROVISIONS FOR LIABILITIES (116,643 ) (111,699 )
NET ASSETS 559,344 558,880

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 522,959 522,959
Retained earnings 36,285 35,821
SHAREHOLDERS' FUNDS 559,344 558,880

Hadwen Property Limited (Registered number: 08710409)

Abridged Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 14 September 2023 and were signed on its behalf by:





A Hadwen - Director


Hadwen Property Limited (Registered number: 08710409)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Hadwen Property 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and 10% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

Hadwen Property Limited (Registered number: 08710409)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 29,623
Additions 17,700
At 31 March 2023 47,323
DEPRECIATION
At 1 April 2022 7,945
Charge for year 4,794
At 31 March 2023 12,739
NET BOOK VALUE
At 31 March 2023 34,584
At 31 March 2022 21,678

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,426,044
NET BOOK VALUE
At 31 March 2023 1,426,044
At 31 March 2022 1,426,044

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.3.23 31.3.22
£    £   
Repayable by instalments
Other loans more 5yrs instal 773,897 690,714

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Hire purchase contracts 5,625 -
Mortgages 773,897 754,091
779,522 754,091

The following charges are held over the company :-
- Paragon Bank PLC and Paragon Mortgages (2010) Limited hold charges dated 28/12/2020, 13/03/20218, 31/10/2017 and 20/05/2022.
- Lloyds Bank PLC hold a charge dated 29/10/2014.

Hadwen Property Limited (Registered number: 08710409)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 522,959

9. CONTINGENT LIABILITIES

There were no material contingent liabilities at the year end.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
A Hadwen and Mrs S Hadwen
Balance outstanding at start of year 17,893 86,992
Amounts advanced 49,189 -
Amounts repaid (77,732 ) (69,099 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (10,650 ) 17,893

Negative amounts are owed to the company by the directors.
The balance was repaid in full after the year end.

11. POST BALANCE SHEET EVENTS

There were no material post balance sheet events.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Hadwen Property Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hadwen Property Limited for the year ended 31 March 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hadwen Property Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hadwen Property Limited and state those matters that we have agreed to state to the Board of Directors of Hadwen Property Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hadwen Property Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hadwen Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hadwen Property Limited. You consider that Hadwen Property Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hadwen Property Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL


14 September 2023