HAV Properties Limited 12308664 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true 12308664 2022-04-01 2023-03-31 12308664 2023-03-31 12308664 bus:OrdinaryShareClass1 bus:OtherShareType 2023-03-31 12308664 core:CurrentFinancialInstruments 2023-03-31 12308664 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12308664 core:Non-currentFinancialInstruments 2023-03-31 12308664 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 12308664 bus:SmallEntities 2022-04-01 2023-03-31 12308664 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12308664 bus:FullAccounts 2022-04-01 2023-03-31 12308664 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12308664 bus:RegisteredOffice 2022-04-01 2023-03-31 12308664 bus:Director1 2022-04-01 2023-03-31 12308664 bus:Director2 2022-04-01 2023-03-31 12308664 bus:OrdinaryShareClass1 bus:OtherShareType 2022-04-01 2023-03-31 12308664 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12308664 countries:England 2022-04-01 2023-03-31 12308664 2022-03-31 12308664 2020-12-01 2022-03-31 12308664 2022-03-31 12308664 bus:OrdinaryShareClass1 bus:OtherShareType 2022-03-31 12308664 core:CurrentFinancialInstruments 2022-03-31 12308664 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 12308664 core:Non-currentFinancialInstruments 2022-03-31 12308664 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12308664

HAV Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

HAV Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

HAV Properties Limited

Company Information

Directors

Mr Champak Dayal Patel

Mrs Daxa Patel

Registered office

20 Braford Gardens
Shenley Brook End
Milton Keynes
Bucks
MK5 7HY

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

HAV Properties Limited

(Registration number: 12308664)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

183,562

183,562

Current assets

 

Debtors

5

7,711

2,012

Cash at bank and in hand

 

2,896

2,530

 

10,607

4,542

Creditors: Amounts falling due within one year

6

(65,007)

(66,301)

Net current liabilities

 

(54,400)

(61,759)

Total assets less current liabilities

 

129,162

121,803

Creditors: Amounts falling due after more than one year

6

(129,620)

(129,620)

Net liabilities

 

(458)

(7,817)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(460)

(7,819)

Shareholders' deficit

 

(458)

(7,817)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 October 2023 and signed on its behalf by:
 

 

HAV Properties Limited

(Registration number: 12308664)
Balance Sheet as at 31 March 2023

.........................................
Mr Champak Dayal Patel
Director

 

HAV Properties Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
20 Braford Gardens
Shenley Brook End
Milton Keynes
Bucks
MK5 7HY
England

These financial statements were authorised for issue by the Board on 2 October 2023.

The company registration number is 12308664

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

HAV Properties Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

HAV Properties Limited

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

4

Investment properties

2023
£

At 1 April

183,562

At 31 March

183,562

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

Other debtors

7,711

2,012

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

4,271

4,271

Accruals and deferred income

 

372

351

Other creditors

 

60,364

61,679

 

65,007

66,301

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

129,620

129,620

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

HAV Properties Limited

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

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

129,620

129,620

2023
£

2022
£

Current loans and borrowings

Other borrowings

4,271

4,271