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REGISTERED NUMBER: 01568146 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

HAS Developments Ltd

HAS Developments Ltd (Registered number: 01568146)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HAS Developments Ltd

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Mrs A S M Gould
G E Gould





SECRETARY: Mrs A S M Gould





REGISTERED OFFICE: Sherwood House
41 Queens Road
Farnborough
Hampshire
GU14 6JP





REGISTERED NUMBER: 01568146 (England and Wales)





ACCOUNTANTS: Jones & Co
Sherwood House
41 Queens Road
Farnborough
Hants
GU14 6JP

HAS Developments Ltd (Registered number: 01568146)

BALANCE SHEET
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,761 2,201
Investment property 5 1,857,179 1,857,179
1,858,940 1,859,380

CURRENT ASSETS
Cash at bank 23,802 24,836

CREDITORS
Amounts falling due within one year 6 37,469 36,411
NET CURRENT LIABILITIES (13,667 ) (11,575 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,845,273 1,847,805

CREDITORS
Amounts falling due after more than one year 7 (322,050 ) (376,119 )

PROVISIONS FOR LIABILITIES (68,473 ) (68,473 )
NET ASSETS 1,454,750 1,403,213

CAPITAL AND RESERVES
Called up share capital 15,000 15,000
Fair value reserve 704,617 704,617
Retained earnings 735,133 683,596
SHAREHOLDERS' FUNDS 1,454,750 1,403,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by:





Mrs A S M Gould - Director


HAS Developments Ltd (Registered number: 01568146)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

HAS Developments Ltd 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 represents rental income which is recognised according to the terms of tenancies.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance

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.

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 fair value adjustments to the valuation of investment properties.

FRS102 requires deferred tax to be provided for on the difference between cost and the fair value of investment property and accordingly the the previous years' figures have been adjusted for the appropriate provision.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 19,615 12,166 31,781
DEPRECIATION
At 1 July 2022 19,420 10,160 29,580
Charge for year 39 401 440
At 30 June 2023 19,459 10,561 30,020
NET BOOK VALUE
At 30 June 2023 156 1,605 1,761
At 30 June 2022 195 2,006 2,201

HAS Developments Ltd (Registered number: 01568146)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,857,179
NET BOOK VALUE
At 30 June 2023 1,857,179
At 30 June 2022 1,857,179

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2011 435,875
Valuation in 2014 337,214
Cost 1,084,090
1,857,179

If investment property had not been revalued it would have been included at the following historical cost:

30.6.23 30.6.22
£    £   
Cost 1,084,090 1,084,090

Investment property was valued on an open market value basis on 30 June 2023 by the directors .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Taxation and social security 13,423 12,375
Other creditors 24,046 24,036
37,469 36,411

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Other creditors 322,050 376,119

Amounts falling due in more than five years:

Repayable by instalments
Property loans more 5ys instal 83,862 104,813

8. INVESTMENT PROPERTY LOANS

In 2016 the directors re-financed some of the company's loans in their own names. This loan finance is considered to be a liability of the company and these loan finance obligations are therefore shown in the company's financial statements.