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Registered Number: 12733225
England and Wales

 

 

 

HAYDEN PROPERTY HOLDINGS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 13,125    14,931 
13,125    14,931 
Current assets      
Debtors 29,714    47,230 
Cash at bank and in hand 2,631    5,932 
32,345    53,162 
Creditors: amount falling due within one year (31,910)   (56,538)
Net current assets 435    (3,376)
 
Total assets less current liabilities 13,560    11,555 
Provisions for liabilities (1,174)   (1,174)
Net assets 12,386    10,381 
 

Capital and reserves
     
Called up share capital 120    120 
Profit and loss account 12,266    10,261 
Shareholder's funds 12,386    10,381 
 


For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 08 April 2024 and were signed by:


-------------------------------
Ben Hayden
Director
1
General Information
Hayden Property Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 12733225, registration address 131a Wembury Road, Plymouth, Plymouth, PL9 8EZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the leasing of property, the policies adopted are as follows:
  • Leasing and groundrents of property
Turnover from ground rents and the leasing of property is recognised by reference to lease agreement, rentals are accrued for the period of use.

  • Other revenue
Other revenue is recognised when it is received or when the right to receive payment is established.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the company has legal right to set off against current tax liabilities and if they both relate to income tax levied by the same taxation authority on the same entity.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 20% Straight Line
Investment properties
Investment properties are included in the balance sheet at their fair value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to the profit and loss account via Fair Value Adjustment.
Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. 
In the opinion of the directors compliance with the standard is necessary for the financial
statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
Significant Judgements and Estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The following are significant management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements.
  • Valuation of investment property
As with any valuation there is an element of subjectivity, the Directors have valued the investment properties based on their skill and judgement, having had extensive experience in the property sector. The directors believe the carrying value reflects the true fair market value at the date of the report taking into account all current market conditions.
  • Going Concern
The Directors have reviewed the companys budgets and forecasts for beyond 12 months from the date of this report, its liquid resources, medium term plans and potential impact of the outbreak of Coronavirus disease. The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and, accordingly, consider that it is appropriate to adopt the going concern basis in preparing these financial statements.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Investment properties   Total
  £   £   £   £   £
At 01 August 2022 1,566    5,684    1,777    8,750    17,777 
Additions        
Disposals        
At 31 July 2023 1,566    5,684    1,777    8,750    17,777 
Depreciation
At 01 August 2022 626    1,509    711      2,846 
Charge for year 314    1,137    355      1,806 
On disposals        
At 31 July 2023 940    2,646    1,066      4,652 
Net book values
Closing balance as at 31 July 2023 626    3,038    711    8,750    13,125 
Opening balance as at 01 August 2022 940    4,175    1,066    8,750    14,931 

The director valued the investment properties and have decided there is no change in value this year, this was using their own skill and knowledge along with third party sources as verification taking due care for the market conditions. 

2