Company registration number 13891421 (England and Wales)
HASFORD PROPERTY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
HASFORD PROPERTY LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
HASFORD PROPERTY LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
Notes
£
£
Fixed assets
Investment property
3
357,267
Current assets
Cash at bank and in hand
46,377
Creditors: amounts falling due within one year
4
(406,580)
Net current liabilities
(360,203)
Net liabilities
(2,936)
Capital and reserves
Called up share capital
5
100
Profit and loss reserves
(3,036)
Total equity
(2,936)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 31 October 2023 and are signed on its behalf by:
Mr B A Ford
Director
Company registration number 13891421 (England and Wales)
HASFORD PROPERTY LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 3 February 2022
-
0
-
0
-
Period ended 28 February 2023:
Loss for the year
-
(3,036)
(3,036)
Issue of share capital
5
100
-
100
Balance at 28 February 2023
100
(3,036)
(2,936)
HASFORD PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information

Hasford Property Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 60 Kings Road, London, SW19 8QW.

1.1
Reporting period

These financial statements for the period ended 28 February 2023 are the first financial statements of Hasford Property Ltd. The company was incorporated on 3 February 2022 and therefore the financial statements are for a period of more than one year.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include investment property and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Going concern

At the balance sheet date, the financial statements show that the company has liabilities in excess of assets of £2,936 as a result of losses made to date. The financial statements have been prepared on a going concern basis as the directors have confirmed that they will continue to support the company for the foreseeable future and meet the excess liabilities if the company is unable to do so.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with bank.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

HASFORD PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
2
HASFORD PROPERTY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2023
- 5 -
3
Investment property
2023
£
Fair value
At 3 February 2022
-
0
Additions
357,267
At 28 February 2023
357,267

The fair value of the investment properties was made on the open market valuations by referring to market evidence of transaction prices for similar properties based on the location of the respective properties.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2023
£
Cost
357,267
Accumulated depreciation
-
Carrying amount
357,267
4
Creditors: amounts falling due within one year
2023
£
Other creditors
406,580
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
100
100

100 Ordinary share of £1 each were issued and fully paid up at par during the period.

6
Directors' transactions

At the period end, the company owed £404,900 to directors of the company.

2023-02-282022-02-03false31 October 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr B A FordMrs M J Ayton138914212022-02-032023-02-28138914212023-02-2813891421core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2813891421core:ShareCapital2023-02-2813891421core:RetainedEarningsAccumulatedLosses2023-02-2813891421core:ShareCapital2022-02-0213891421core:RetainedEarningsAccumulatedLosses2022-02-0213891421bus:Director12022-02-032023-02-2813891421core:RetainedEarningsAccumulatedLosses2022-02-032023-02-2813891421core:ShareCapital2022-02-032023-02-28138914212022-02-0213891421core:CurrentFinancialInstruments2023-02-2813891421bus:PrivateLimitedCompanyLtd2022-02-032023-02-2813891421bus:SmallCompaniesRegimeForAccounts2022-02-032023-02-2813891421bus:FRS1022022-02-032023-02-2813891421bus:AuditExemptWithAccountantsReport2022-02-032023-02-2813891421bus:Director22022-02-032023-02-2813891421bus:FullAccounts2022-02-032023-02-28xbrli:purexbrli:sharesiso4217:GBP