Caseware UK (AP4) 2022.0.179 2022.0.179 2022-03-312022-03-31false2021-04-0111truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11885996 2021-04-01 2022-03-31 11885996 2020-04-01 2021-03-31 11885996 2022-03-31 11885996 2021-03-31 11885996 c:Director1 2021-04-01 2022-03-31 11885996 d:FreeholdInvestmentProperty 2022-03-31 11885996 d:FreeholdInvestmentProperty 2021-03-31 11885996 d:CurrentFinancialInstruments 2022-03-31 11885996 d:CurrentFinancialInstruments 2021-03-31 11885996 d:Non-currentFinancialInstruments 2022-03-31 11885996 d:Non-currentFinancialInstruments 2021-03-31 11885996 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11885996 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 11885996 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11885996 d:Non-currentFinancialInstruments d:AfterOneYear 2021-03-31 11885996 d:ShareCapital 2022-03-31 11885996 d:ShareCapital 2021-03-31 11885996 d:RetainedEarningsAccumulatedLosses 2022-03-31 11885996 d:RetainedEarningsAccumulatedLosses 2021-03-31 11885996 c:FRS102 2021-04-01 2022-03-31 11885996 c:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 11885996 c:FullAccounts 2021-04-01 2022-03-31 11885996 c:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 11885996 6 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 11885996










HASEL PROPERTY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2022

 
HASEL PROPERTY LIMITED
REGISTERED NUMBER: 11885996

BALANCE SHEET
AS AT 31 MARCH 2022

As restated
2022
2021
Note
£
£

Fixed assets
  

Investments
 4 
99
99

Investment property
 5 
4,000,000
4,000,000

  
4,000,099
4,000,099

Current assets
  

Debtors: amounts falling due within one year
 6 
1
1

Creditors: amounts falling due within one year
 7 
(105,669)
(67,124)

Net current liabilities
  
 
 
(105,668)
 
 
(67,123)

Total assets less current liabilities
  
3,894,431
3,932,976

Creditors: amounts falling due after more than one year
 8 
(4,000,000)
(4,000,000)

  

Net liabilities
  
(105,569)
(67,024)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(105,669)
(67,124)

  
(105,569)
(67,024)


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.


Page 1

 
HASEL PROPERTY LIMITED
REGISTERED NUMBER: 11885996
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2022

F Hmood
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HASEL PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1.


General information

The company is a private company limited by shares, incorporated in England and Wales, registration number 11885996. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

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

Going concern

Although the net asset position is negative at the year end, this includes a loan from the subsidiary undertaking of £3.3 million. This subsidiary will continue to provide financial support to the parent company, and therefore the company is considered to be a going concern.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the director 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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
HASEL PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.9

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


 
Page 4

 
HASEL PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2021
99



At 31 March 2022
99




Page 5

 
HASEL PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2021
4,000,000



At 31 March 2022
4,000,000

The 2022 valuations were made by the director, on an open market value basis and were not materially different to the acquisition cost and so no revalutation is necessary.





6.


Debtors

2022
2021
£
£


Called up share capital not paid
1
1



7.


Creditors: Amounts falling due within one year

As restated
2022
2021
£
£

Trade creditors
510
-

Corporation tax
200
-

Other creditors
38,997
21,416

Accruals and deferred income
65,962
45,708

105,669
67,124


Page 6

 
HASEL PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

8.


Creditors: Amounts falling due after more than one year

As restated
2022
2021
£
£

Other loans
4,000,000
4,000,000


Included within creditors due after more than one year is a balance of £3,261,947 (2021: £3,261,947) due to a subsidiary undertaking. This amount is unsecured and no interest is charged.

 
Page 7