Surf AccountsProduction v1.0.0 v1.0.0 2022-02-01 The company was not dormant during the period The company was trading for the entire period The Principal Activity of the company is the letting of Property. 26 September 2023 2 2 NI674627 2023-01-31 NI674627 2022-01-31 NI674627 2021-01-31 NI674627 2022-02-01 2023-01-31 NI674627 2021-02-01 2022-01-31 NI674627 uk-bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 NI674627 uk-curr:PoundSterling 2022-02-01 2023-01-31 NI674627 uk-bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 NI674627 uk-bus:FullAccounts 2022-02-01 2023-01-31 NI674627 uk-bus:Director1 2022-02-01 2023-01-31 NI674627 uk-bus:Director2 2022-02-01 2023-01-31 NI674627 uk-bus:RegisteredOffice 2022-02-01 2023-01-31 NI674627 uk-bus:Agent1 2022-02-01 2023-01-31 NI674627 uk-core:ShareCapital 2023-01-31 NI674627 uk-core:ShareCapital 2022-01-31 NI674627 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI674627 uk-core:RetainedEarningsAccumulatedLosses 2022-01-31 NI674627 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI674627 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-01-31 NI674627 uk-bus:FRS102 2022-02-01 2023-01-31 NI674627 uk-core:LandBuildings 2022-02-01 2023-01-31 NI674627 uk-core:PlantMachinery 2022-02-01 2023-01-31 NI674627 uk-core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 NI674627 uk-core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 NI674627 uk-bus:Audited 2022-02-01 2023-01-31 NI674627 uk-core:CurrentFinancialInstruments 2023-01-31 NI674627 uk-core:CurrentFinancialInstruments 2022-01-31 NI674627 uk-core:CurrentFinancialInstruments 2023-01-31 NI674627 uk-core:CurrentFinancialInstruments 2022-01-31 NI674627 uk-core:WithinOneYear 2023-01-31 NI674627 uk-core:WithinOneYear 2022-01-31 NI674627 uk-core:WithinOneYear 2023-01-31 NI674627 uk-core:WithinOneYear 2022-01-31 NI674627 uk-core:AfterOneYear 2023-01-31 NI674627 uk-core:AfterOneYear 2022-01-31 NI674627 uk-core:BetweenOneTwoYears 2023-01-31 NI674627 uk-core:BetweenOneTwoYears 2022-01-31 NI674627 uk-core:BetweenTwoFiveYears 2023-01-31 NI674627 uk-core:BetweenTwoFiveYears 2022-01-31 NI674627 uk-core:ParentEntities 2022-02-01 2023-01-31 NI674627 2022-02-01 2023-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI674627
 
 
Hannon Holdings Property Limited
 
Financial Statements
 
for the financial year ended 31 January 2023
Hannon Holdings Property Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Aodh Hannon
Mrs. Teresa Hannon
 
 
Company Registration Number NI674627
 
 
Registered Office and Business Address 21 Brankinstown Road
Aghalee
Lurgan
Co. Armagh
BT67 0DF
Northern Ireland
 
 
Independent Auditors MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers HSBC UK Bank PLC
  25-29 Royal Avenue
  Belfast
  Co. Antrim
  BT1 1FB
  United Kingdom
   
   
  HSBC
  1 Grand Canal Square
  Grand Canal Harbour
  Dublin 2
  Ireland
 
   
Solicitors Tughans
  Marlborough House
  30 Victoria Street
  Belfast
  Co. Antrim
  BT1 3GG
  United Kingdom



Hannon Holdings Property Limited
Company Registration Number: NI674627
BALANCE SHEET
as at 31 January 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 5,251,424 3,295,035
───────── ─────────
 
Current Assets
Debtors 6 1,140,164 11,542
Cash and cash equivalents 118,828 17,478
───────── ─────────
1,258,992 29,020
───────── ─────────
Creditors: amounts falling due within one year 7 (5,835,166) (2,493,724)
───────── ─────────
Net Current Liabilities (4,576,174) (2,464,704)
───────── ─────────
Total Assets less Current Liabilities 675,250 830,331
 
Creditors:
amounts falling due after more than one year 8 (578,927) (695,253)
───────── ─────────
Net Assets 96,323 135,078
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 96,223 134,978
───────── ─────────
Equity attributable to owners of the company 96,323 135,078
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
Approved by the Board and authorised for issue on 26 September 2023 and signed on its behalf by
           
           
________________________________          
Mr. Aodh Hannon          
Director          
           



Hannon Holdings Property Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 January 2023

   
1. General Information
 
Hannon Holdings Property Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI674627. The registered office of the company is 21 Brankinstown Road, Aghalee, Lurgan, Co. Armagh, BT67 0DF, Northern Ireland which is also the principal place of business of the company. The Principal Activity of the company is the letting of Property. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 January 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation.  Land is not depreciated. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Freehold Property - 4% Straight line
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
  Land - 0%
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure.  On the occasion of a revaluation the difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company‘s taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by MG accountants.
The Auditor's Report was signed by Claire Garvey (Senior Statutory Auditor) for and on behalf of MG accountants on 26th September 2023.
 
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 2,
 
  2023 2022
  Number Number
 
Directors 2 2
  ═════════ ═════════

               
5. Tangible assets
  Freehold Property Investment Plant and Fixtures, Land Total
    properties machinery fittings and    
        equipment    
  £ £ £ £ £ £
Cost
At 1 February 2022 2,438,152 - - - 945,389 3,383,541
Additions 663,014 240,995 389,054 21,857 800,812 2,115,732
  ───────── ───────── ───────── ───────── ───────── ─────────
At 31 January 2023 3,101,166 240,995 389,054 21,857 1,746,201 5,499,273
  ───────── ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2022 88,506 - - - - 88,506
Charge for the financial year 109,275 - 48,042 2,026 - 159,343
  ───────── ───────── ───────── ───────── ───────── ─────────
At 31 January 2023 197,781 - 48,042 2,026 - 247,849
  ───────── ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 January 2023 2,903,385 240,995 341,012 19,831 1,746,201 5,251,424
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════
At 31 January 2022 2,349,646 - - - 945,389 3,295,035
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════

       
6. Debtors 2023 2022
  £ £
 
Amounts owed by group undertakings 232,618 -
Other debtors 890,981 100
Taxation  (Note 9) 16,565 11,442
  ───────── ─────────
  1,140,164 11,542
  ═════════ ═════════
 
Other debtors includes an amount of £890,881 as a deposit for the purchase of land which completed on 3rd February 2023.
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 131,646 116,326
Trade creditors 44,221 27,759
Amounts owed to group undertakings 5,616,844 2,304,021
Taxation  (Note 9) 32,559 41,258
Other creditors 2,748 1,860
Accruals 7,148 2,500
  ───────── ─────────
  5,835,166 2,493,724
  ═════════ ═════════
 
HSBC holds the following security:
(i)  First Legal Mortgage over the freehold property of Hannon Holdings Property known as Lands & Warehouse at Blakes Cross, Lusk, Swords, Dublin, Ireland.
(ii) Debenture comprising fixed and floating charges over all the assets and undertaking of Hannon Holdings Property Ltd including all present and future freehold and leasehold property, book and other debts, chattels goodwill uncalled capital, both present and future.
(iii) Group Guarantee in favour of the Bank from Hannon Holdings property Limited, Hannon Logistics Limited, Hannon Transport Limited, Hannon Holdings Limited, Hannon Fleet Sales Limited, Hannon Coach Hire Limited guaranteeing the obligations of each other to the bank.
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 578,927 695,253
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 131,646 116,326
Repayable between one and two years 131,646 116,326
Repayable between two and five years 447,281 578,927
  ───────── ─────────
  710,573 811,579
  ═════════ ═════════
 
       
9. Taxation 2023 2022
  £ £
 
Debtors:
VAT 16,565 11,442
  ═════════ ═════════
Creditors:
Corporation tax 32,559 41,258
  ═════════ ═════════
           
10. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
   
11. Parent company
 
The company regards Hannon Holdings Ltd as its parent company.