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REGISTERED NUMBER: 10696085 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

HAP Properties Limited

HAP Properties Limited (Registered number: 10696085)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAP Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: Mr H A Poswall





REGISTERED OFFICE: 255 Portswood Road
Southampton
SO17 2NG





REGISTERED NUMBER: 10696085 (England and Wales)





ACCOUNTANTS: Thomas Croft Limited
Accountants And Taxation Consultants
Solent House
107a Alma Road
Portswood
Southampton
Hampshire
SO14 6UY

HAP Properties Limited (Registered number: 10696085)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 540,000 540,000

CURRENT ASSETS
Debtors 5 115,032 115,050
Cash at bank 114,558 92,184
229,590 207,234
CREDITORS
Amounts falling due within one year 6 300,573 299,862
NET CURRENT LIABILITIES (70,983 ) (92,628 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

469,017

447,372

PROVISIONS FOR LIABILITIES 63,742 63,742
NET ASSETS 405,275 383,630

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 271,745 271,745
Retained earnings 7 133,430 111,785
SHAREHOLDERS' FUNDS 405,275 383,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HAP Properties Limited (Registered number: 10696085)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





Mr H A Poswall - Director


HAP Properties Limited (Registered number: 10696085)

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

1. STATUTORY INFORMATION

HAP Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 540,000
NET BOOK VALUE
At 31 March 2023 540,000
At 31 March 2022 540,000

HAP Properties Limited (Registered number: 10696085)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 540,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 115,032 115,050

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Corporation tax 5,593 7,135
Other creditors 5,790 3,700
Directors' current accounts 282,756 282,756
Accruals and deferred income 5,355 5,250
Accrued expenses 1,079 1,021
300,573 299,862

7. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 111,785 271,745 383,530
Profit for the year 23,645 23,645
Dividends (2,000 ) (2,000 )
At 31 March 2023 133,430 271,745 405,175

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr H A Poswall
Balance outstanding at start of year (282,756 ) (282,756 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (282,756 ) (282,756 )

HAP Properties Limited (Registered number: 10696085)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. RELATED PARTY DISCLOSURES

The company was under the control of Mr H A Poswall throughout the current and previous period. Mr H A Poswall is the managing director and sole shareholder.

The company owns a 50% share of 5 Onslow Road along with GMP Properties (Southampton) Ltd.

The Other debtor balance of £114,682 (2022: £114,682) are monies that are owed by GMP Properties (Southampton) Ltd.