Hayley Properties Limited 04728273 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Property investment Digita Accounts Production Advanced 6.30.9574.0 true 04728273 2023-04-01 2024-03-31 04728273 2024-03-31 04728273 core:RetainedEarningsAccumulatedLosses 2024-03-31 04728273 core:RevaluationReserve 2024-03-31 04728273 core:ShareCapital 2024-03-31 04728273 core:CurrentFinancialInstruments 2024-03-31 04728273 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04728273 core:Non-currentFinancialInstruments 2024-03-31 04728273 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 04728273 core:FurnitureFittings 2024-03-31 04728273 bus:SmallEntities 2023-04-01 2024-03-31 04728273 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04728273 bus:FullAccounts 2023-04-01 2024-03-31 04728273 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04728273 bus:RegisteredOffice 2023-04-01 2024-03-31 04728273 bus:Director1 2023-04-01 2024-03-31 04728273 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04728273 core:FurnitureFittings 2023-04-01 2024-03-31 04728273 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04728273 countries:EnglandWales 2023-04-01 2024-03-31 04728273 2023-03-31 04728273 core:FurnitureFittings 2023-03-31 04728273 2022-04-01 2023-03-31 04728273 2023-03-31 04728273 core:RetainedEarningsAccumulatedLosses 2023-03-31 04728273 core:RevaluationReserve 2023-03-31 04728273 core:ShareCapital 2023-03-31 04728273 core:CurrentFinancialInstruments 2023-03-31 04728273 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04728273 core:Non-currentFinancialInstruments 2023-03-31 04728273 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 04728273 core:FurnitureFittings 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04728273

Hayley Properties Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

Hayley Properties Limited

(Registration number: 04728273)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,639

668

Investment property

5

699,000

699,000

 

700,639

699,668

Current assets

 

Debtors

6

674

2,560

Cash at bank and in hand

 

8,024

11,037

 

8,698

13,597

Creditors: Amounts falling due within one year

7

(18,982)

(22,779)

Net current liabilities

 

(10,284)

(9,182)

Total assets less current liabilities

 

690,355

690,486

Creditors: Amounts falling due after more than one year

7

(249,163)

(249,163)

Net assets

 

441,192

441,323

Capital and reserves

 

Called up share capital

2

2

Fair value reserve

176,862

176,862

Profit and loss account

264,328

264,459

Shareholders' funds

 

441,192

441,323

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

 

Hayley Properties Limited

(Registration number: 04728273)
Statement of Financial Position as at 31 March 2024

.........................................
Mrs H K P Lindsay
Director

 

Hayley Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Hayley Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

20% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Hayley Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2023

2,937

2,937

Additions

1,380

1,380

At 31 March 2024

4,317

4,317

Depreciation

At 1 April 2023

2,269

2,269

Charge for the year

409

409

At 31 March 2024

2,678

2,678

Carrying amount

At 31 March 2024

1,639

1,639

At 31 March 2023

668

668

5

Investment properties

2024
£

At 1 April 2023

699,000

At 31 March 2024

699,000

There has been no valuation of investment property by an independent valuer. The directors have assessed the open market value of the property at the year-end based on typical commercial property yields. At this valuation no capital gains tax would be payable on disposal.

6

Debtors

2024
£

2023
£

Trade debtors

674

934

Prepayments

-

1,626

674

2,560

 

Hayley Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Taxation and social security

1,884

2,809

Accruals and deferred income

10,285

5,641

Other creditors

6,813

14,329

18,982

22,779

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

249,163

249,163

9

Related party transactions

At year end the company owed £249,163 (2023: £249,163) 25% each to the four adult children of the Shareholders. This loan is unsecured, non interest bearing and would only be repaid if the main investment property was sold which is not contemplated.