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REGISTERED NUMBER: 10775632 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Harrow Properties Limited

Harrow Properties Limited (Registered number: 10775632)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Harrow Properties Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr Rajesh Rameshchandra Shah
Mr Vimal Navin Shah





REGISTERED OFFICE: Devonshire House
582 Honeypot Lane
Stanmore
MIDDLESEX
HA7 1JS





REGISTERED NUMBER: 10775632 (England and Wales)





ACCOUNTANTS: Capitax Financial Limited
Devonshire House
582 Honeypot Lane
Stanmore
MIDDLESEX
HA7 1JS

Harrow Properties Limited (Registered number: 10775632)

Statement of Financial Position
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 944,100 944,100

CURRENT ASSETS
Debtors 5 1,213 1,095
Cash at bank 27,862 56,429
29,075 57,524
CREDITORS
Amounts falling due within one year 6 864,088 912,392
NET CURRENT LIABILITIES (835,013 ) (854,868 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

109,087

89,232

CAPITAL AND RESERVES
Called up share capital 2,500 2,500
Retained earnings 106,587 86,732
SHAREHOLDERS' FUNDS 109,087 89,232

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 9 February 2024 and were signed on its behalf by:



Mr Rajesh Rameshchandra Shah - Director



Mr Vimal Navin Shah - Director


Harrow Properties Limited (Registered number: 10775632)

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

1. STATUTORY INFORMATION

Harrow 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.

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 statement of financial position date.

Deferred tax
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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 944,100
NET BOOK VALUE
At 31 October 2023 944,100
At 31 October 2022 944,100

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 1,213 1,095

Harrow Properties Limited (Registered number: 10775632)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Amounts owed to associates 300,000 350,000
Taxation and social security 4,657 4,095
Other creditors 559,431 558,297
864,088 912,392

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year ended 31 October 2023, Harrow Properties Ltd owed £109,500 to its directors. This amount is reflected in their respective director's loan accounts in credit balances, which is shown as part of Other creditors under Creditors due within one year. Please be advised that both the directors have agreed to provide this loan on an interest free basis and the loan is repayable on demand.

8. RELATED PARTY DISCLOSURES

During the year ended 31 October 2023, Harrow Properties Ltd owed £438,000 to its shareholders. This amount is shown as part of Other creditors under Creditors due within one year. Please be advised that all the respective shareholders have agreed to provide this loan on an interest free basis and the loan is repayable on demand. Additionally, Harrow Properties Ltd entered into a short-term loan agreement with a related company and borrowed £300,000 at an annual fixed interest of 3%. Please be advised that this loan is repayable on demand and is hence included within Creditors due within one year and is shown as Amounts owed to associate.