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Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Harepath SW19 Limited

Harepath SW19 Limited (Registered number: 10497539)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Harepath SW19 Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: C P Ackley
P J Whiteway





REGISTERED OFFICE: 8-10 South Street
Epsom
Surrey
KT18 7PF





REGISTERED NUMBER: 10497539 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Harepath SW19 Limited (Registered number: 10497539)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,200,000 4,200,000

CURRENT ASSETS
Stocks 5 6,507,548 5,699,361
Debtors 6 129,646 189,641
Cash at bank 85,839 73,548
6,723,033 5,962,550
CREDITORS
Amounts falling due within one year 7 3,609,239 9,924,745
NET CURRENT ASSETS/(LIABILITIES) 3,113,794 (3,962,195 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,313,794

237,805

CREDITORS
Amounts falling due after more than one
year

8

6,840,000

-
NET ASSETS 473,794 237,805

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 473,694 237,705
SHAREHOLDERS' FUNDS 473,794 237,805

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 directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





P J Whiteway - Director


Harepath SW19 Limited (Registered number: 10497539)

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


1. STATUTORY INFORMATION

Harepath SW19 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.

Turnover
Turnover represents income derived from sale of properties, recognised following legal completion and also from rents and ground rents charged, and the provision of electricity charges, excluding value added tax.

Rental income is recognised over the period to which it relates. Rents received in advance are carried as a liability within deferred income.

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.

Work in progress
Work in progress is measured at the lower of cost and net realisable value.

Work in progress includes land and build costs, alongside capitalised borrowing costs and any other costs directly attributable in bringing the sites to completion.

Derecognition takes place on sale of a property.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 3 ) .

Harepath SW19 Limited (Registered number: 10497539)

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


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 4,200,000
NET BOOK VALUE
At 31 March 2023 4,200,000
At 31 March 2022 4,200,000

5. STOCKS
2023 2022
£    £   
Work-in-progress 6,507,548 5,699,361

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,833 102,507
Other debtors 85,085 78,582
Prepayments 8,728 8,552
129,646 189,641

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 840,825 5,924,504
Other loans (see note 9) 370,000 950,799
Trade creditors 91,421 79,403
Amounts owed to group undertakings 921,372 820,664
Tax 61,870 46,734
Social security and other taxes - 2,671
VAT 18,481 4,332
Other creditors 86,843 72,593
Directors' current accounts 427,683 459,000
Accrued expenses 790,744 1,564,045
3,609,239 9,924,745

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 9) 6,840,000 -

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 840,825 5,924,504
Other loans 370,000 950,799
1,210,825 6,875,303

Harepath SW19 Limited (Registered number: 10497539)

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


9. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 6,840,000 -

Bank loans are secured by a legal charge over the property owned by the company, and (in part) a joint and several personal guarantee in the sum of £760,000 given by the Directors.

Other loans represent monies lent from private investors and are unsecured.

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 7,680,825 5,924,504

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100