1 September 2022 v2024.6.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP087582592022-09-012023-08-31087582592023-08-31087582592022-08-3108758259core:WithinOneYear2023-08-3108758259core:WithinOneYear2022-08-3108758259core:AfterOneYear2023-08-3108758259core:AfterOneYear2022-08-3108758259core:ShareCapital2023-08-3108758259core:ShareCapital2022-08-3108758259core:RetainedEarningsAccumulatedLosses2023-08-3108758259core:RetainedEarningsAccumulatedLosses2022-08-3108758259bus:Director12022-09-012023-08-3108758259bus:RegisteredOffice2022-09-012023-08-31087582592021-09-012022-08-3108758259core:LandBuildings2023-08-3108758259core:LandBuildings2022-09-01087582592022-09-0108758259core:LandBuildings2022-09-012023-08-3108758259core:LandBuildings2022-08-3108758259core:CostValuation2022-09-0108758259core:CostValuation2023-08-310875825912022-09-012023-08-3108758259countries:EnglandWales2022-09-012023-08-3108758259bus:AuditExemptWithAccountantsReport2022-09-012023-08-3108758259bus:PrivateLimitedCompanyLtd2022-09-012023-08-3108758259bus:SmallEntities2022-09-012023-08-3108758259bus:FullAccounts2022-09-012023-08-31
Company registration number:
08758259
Howarth Properties Ltd
Unaudited Filleted Financial Statements for the year ended
31 August 2023
Howarth Properties Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Howarth Properties Ltd
Year ended
31 August 2023
As described on the statement of financial position, the Board of Directors of
Howarth Properties Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 August 2023
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
DJH MITTEN CLARKE LEEDS LIMITED
1-2 Victoria Court, Bank Square
Morley
Leeds
West Yorkshire
LS27 9SE
United Kingdom
Date:
29 February 2024
Howarth Properties Ltd
Statement of Financial Position
31 August 2023
20232022
Note££
Fixed assets    
Tangible assets 5
966,009
 
971,432
 
Investments 6
2
 
2
 
966,011
 
971,434
 
Current assets    
Debtors 7
2,069
  -  
Cash at bank and in hand
16,854
 
51,759
 
18,923
 
51,759
 
Creditors: amounts falling due within one year 8
(341,731
)
(366,280
)
Net current liabilities
(322,808
)
(314,521
)
Total assets less current liabilities 643,203   656,913  
Creditors: amounts falling due after more than one year 9
(491,898
)
(514,091
)
Net assets
151,305
 
142,822
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
151,205
 
142,722
 
Shareholders funds
151,305
 
142,822
 
For the year ending
31 August 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These
financial statements
were approved by the board of directors and authorised for issue on
29 February 2024
, and are signed on behalf of the board by:
Claire Howarth
Director
Company registration number:
08758259
Howarth Properties Ltd
Notes to the Financial Statements
Year ended
31 August 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
1-2 Victoria Court, Bank Square
,
Morley
,
Leeds
,
West Yorkshire
,
LS27 9SE
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Current tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash flows from other assets or group of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financial transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 September 2022
and
31 August 2023
1,004,169
  -  
1,004,169
 
Depreciation      
At
1 September 2022
32,737
  -  
32,737
 
Charge
5,423
  -  
5,423
 
At
31 August 2023
38,160
  -  
38,160
 
Carrying amount      
At
31 August 2023
966,009
  -  
966,009
 
At 31 August 2022
971,432
  -  
971,432
 

6 Investments

Other investments other than loans
£
Cost  
At
1 September 2022
2
 
At
31 August 2023
2
 
Impairment  
At
1 September 2022
and
31 August 2023
-  
Carrying amount  
At
31 August 2023
2
 
At 31 August 2022
2
 

7 Debtors

20232022
££
Other debtors
2,069
  -  

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
25,842
 
37,159
 
Taxation and social security
4,183
 
5,921
 
Other creditors
311,706
 
323,200
 
341,731
 
366,280
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
491,898
 
514,091