COMPANY REGISTRATION NUMBER:
03737561
Harrison Properties (Midlands) Limited |
|
Filleted Unaudited Financial Statements |
|
Harrison Properties (Midlands) Limited |
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Statement of Financial Position |
|
31 March 2024
Fixed assets
Investments |
5 |
|
10,000 |
10,000 |
|
|
|
|
|
Current assets
Debtors |
6 |
135,814 |
|
135,814 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
94,062 |
|
94,062 |
|
--------- |
|
--------- |
Net current assets |
|
41,752 |
41,752 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
51,752 |
51,752 |
|
|
-------- |
-------- |
|
|
|
|
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Capital and reserves
Called up share capital |
8 |
|
19,436 |
19,436 |
Capital redemption reserve |
9 |
|
564 |
564 |
Profit and loss account |
9 |
|
31,752 |
31,752 |
|
|
-------- |
-------- |
Shareholders funds |
|
51,752 |
51,752 |
|
|
-------- |
-------- |
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|
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 were approved by the
board of directors
and authorised for issue on
6 August 2024
, and are signed on behalf of the board by:
Company registration number:
03737561
Harrison Properties (Midlands) Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 52a Bromsgrove Road, Redditch, Worcestershire, B97 4JR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have also been prepared on the assumption that the company is able to carry on business as a going concern as the directors are not aware of any reason why the company cannot meet its anticipated future financial obligations from its own working capital.
Disclosure exemptions
The entity satisfies the criteria of being a small entity as defined in FRS102 and section 382 of the Companies Act 2006 and has taken advantage of the disclosure exemptions available under paragraph 1A.7 of FRS102.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4.
Staff costs
The average number of persons employed by the company during the year including the directors amounted to 3 (2023: 3).
5.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 April 2023 and 31 March 2024 |
10,000 |
|
-------- |
Impairment |
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At 1 April 2023 and 31 March 2024 |
– |
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-------- |
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Carrying amount |
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At 31 March 2024 |
10,000 |
|
-------- |
At 31 March 2023 |
10,000 |
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-------- |
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The company owns 100% of the share capital in the following companies, all of which are registered in England and Wales;
- Chaceley Properties Limited
- Harbro Properties (Redditch) Limited
- Birchfield Court Investments (Redditch) Limited
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
135,814 |
135,814 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
94,062 |
94,062 |
|
-------- |
-------- |
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 0.20 each |
97,180 |
19,436 |
97,180 |
19,436 |
|
-------- |
-------- |
-------- |
-------- |
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|
|
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9.
Reserves
Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.
10.
Related party transactions
Birchfield Court Investments (Redditch) Limited At the year end the company was owed £115,814 (2023: £115,814) by the above related party. During the year the company received a dividend of £Nil (2023: £nil) from the above related party. Harbro Properties (Redditch) Limited At the year end the company was owed £20,000 (2023: £20,000) by the above related party. During the year the company received a dividend of £87,500 (2023: £175,000) from the above related party. Chaceley Properties Limited The company owed the above related party £94,062 (2023: £94,062) at the year end. During the year the company received a dividend of £87,500 (2023: £nil) from the above related party. These companies are all 100% wholly owned subsidiaries of
Harrison Properties (Midlands) Limited
. Directors Transactions During the year the company paid dividends of £8,226 to each of M Pardoe and P H Harrison (2023: £16,450 to M Pardoe and £16,450 to P H Harrison) both directors of the company.
11.
Controlling party
The parent company is Harrison Properties (Redditch) Limited, a company registered in England and Wales. The directors consider the ultimate controlling party the trustees of the D C Harrison 31 March 1989 Trust.