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Hallworth Properties Limited
Registered Number:11605391
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
Hallworth Properties Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
11605391
As at 31 March 2023
Hallworth Properties Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
2
257,800
483,280
Investment property
257,800
483,280
Current assets
Trade and other receivables
-
39,212
3
64,902
Cash and cash equivalents
139,351
178,563
64,902
Trade and other payables: amounts falling due within one
year
(2,509)
(204,307)
4
62,393
(25,744)
Net current liabilities
Total assets less current liabilities
232,056
545,673
Trade and other payables: amounts falling due after more
than one year
(531,123)
(93,007)
5
(11,242)
-
Provisions for liabilities
127,807
Net assets
14,550
Capital and reserves
Called up share capital
1
1
Revaluation reserve
59,170
-
6
Retained earnings
68,636
14,549
127,807
14,550
Shareholders' funds
For the year ended 31 March 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Lee George Samuel Hallworth Director
These financial statements were approved and authorised for issue by the Board on 18 October 2023 and were signed by:
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4
Registered Number :
11605391
For the year ended 31 March 2023
Hallworth Properties Limited
Statement of Financial Position Continued
The notes form part of these financial statements
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5
For the year ended 31 March 2023
Hallworth Properties Limited
Notes to the Financial Statements
Statutory Information
Hallworth Properties Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 11605391.
Registered address:
Flowers Green House
Flowers Green
Herstmonceux
East Sussex
BN27 1RL
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Investment property
Investment property includes freehold land and buildings that are let for residential purposes. The director consders the fair value of the properties to be the cost. No adjustment has been made for fair value.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
2. Investment property
Total
£
Fair value
At 01 April 2022
483,280
Disposals
(284,649)
Fair value adjustments
59,169
At 31 March 2023
257,800
Net book value
At 31 March 2023
257,800
At 31 March 2022
483,280
Investment property includes freehold land and buildings that are let for residential purposes. The remaining properties are to be sold in the year ending 31 March 2024 and, based on the sales values, have a fair value of £257,800 at 31 March 2023. The cost of the properties at 31 March 2023 was £198,630.
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6
For the year ended 31 March 2023
Hallworth Properties Limited
Notes to the Financial Statements Continued
3. Trade and other receivables
2022
2023
£
£
Other debtors
39,212
-
4. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft (secured)
128,981
-
Taxation and social security
15,326
2,509
Other creditors
60,000
-
204,307
2,509
£128,981 (2022 £320,228 note 6) represents mortgages on the properties. The Mortgage Works and Precise Mortgages have security over the properties. £30,000 is owed to the director and £30,000 to an investor.
5. Trade and other payables: amounts falling due after more than one year
2022
2023
£
£
Bank loans and overdraft (secured)
-
320,228
Other creditors
93,007
210,895
93,007
531,123
Analysis of creditors falling due after more than five years:
Payable otherwise than by instalments
93,007
320,228
£49,537 (2002 £107,425) is owed to the director and £43,470 (2002 £105,637) to an investor. The director and investor have undertaken not to withdraw their loans from the company until the funds are available.
6. Reserves
Total
£
Revaluation reserve at 01 April 2022
-
Investments written off/revalued
59,170
59,170
Revaluation reserve at 31 March 2023
7. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
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