Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseInvestment property rental11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12460659 2022-03-01 2023-02-28 12460659 2021-03-01 2022-02-28 12460659 2023-02-28 12460659 2022-02-28 12460659 2021-03-01 12460659 c:Director1 2022-03-01 2023-02-28 12460659 d:FreeholdInvestmentProperty 2023-02-28 12460659 d:FreeholdInvestmentProperty 2022-02-28 12460659 d:CurrentFinancialInstruments 2023-02-28 12460659 d:CurrentFinancialInstruments 2022-02-28 12460659 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12460659 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 12460659 d:ShareCapital 2023-02-28 12460659 d:ShareCapital 2022-02-28 12460659 d:RevaluationReserve 2023-02-28 12460659 d:RevaluationReserve 2022-02-28 12460659 d:RetainedEarningsAccumulatedLosses 2023-02-28 12460659 d:RetainedEarningsAccumulatedLosses 2022-02-28 12460659 d:RetirementBenefitObligationsDeferredTax 2023-02-28 12460659 d:RetirementBenefitObligationsDeferredTax 2022-02-28 12460659 c:FRS102 2022-03-01 2023-02-28 12460659 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 12460659 c:FullAccounts 2022-03-01 2023-02-28 12460659 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 12460659









HARLOW PROPERTY HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
HARLOW PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 12460659

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,020,000
2,020,000

Current assets
  

Debtors: amounts falling due within one year
 5 
73,001
298,201

Cash at bank and in hand
  
88,057
730

  
161,058
298,931

Creditors: amounts falling due within one year
 6 
(1,954,569)
(1,940,698)

Net current liabilities
  
 
 
(1,793,511)
 
 
(1,641,767)

Deferred tax
  
(87,260)
(87,260)

Net assets
  
139,229
290,973


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
261,781
261,781

Profit and loss account
  
(122,553)
29,191

  
139,229
290,973


Page 1

 
HARLOW PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 12460659
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 November 2023.




P J O'Connor
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
HARLOW PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Harlow Property Holdings Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Farley House, Kinvara Business Park, 22-42 Freshwater Road, Dagenham, Essex, RM8 1RY. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 3

 
HARLOW PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilties like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
HARLOW PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Investment property


Freehold investment properties

£



Valuation


At 1 March 2022
2,020,000



At 28 February 2023
2,020,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,670,959
1,670,959


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
73,000
73,000

Other debtors
1
215,001

Prepayments
-
10,200

73,001
298,201



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
636

Corporation tax
18,385
8,857

Other creditors
1,921,933
1,919,183

Accruals and deferred income
14,251
12,022

1,954,569
1,940,698


Page 5

 
HARLOW PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


Deferred taxation




2023
2022


£

£






At beginning of year
(87,260)
-


Charged to profit or loss
-
(87,260)



At end of year
(87,260)
(87,260)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment properties
(87,260)
(87,260)

 
Page 6