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REGISTERED NUMBER: 04655777 (England and Wales)











Unaudited Financial Statements

for the Year Ended 28 February 2024

for

Harpoint Properties Limited

Harpoint Properties Limited (Registered number: 04655777)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Harpoint Properties Limited

Company Information
for the Year Ended 28 February 2024







DIRECTORS: D Sloan
P Cox





SECRETARY: D Sloan





REGISTERED OFFICE: The Shrubbery
14 Church Street
Whitchurch
Hampshire
RG28 7AB





REGISTERED NUMBER: 04655777 (England and Wales)





ACCOUNTANTS: Wheeler & Co Ltd
Chartered Accountants
The Shrubbery
14 Church Street
Whitchurch
Hampshire
RG28 7AB

Harpoint Properties Limited (Registered number: 04655777)

Balance Sheet
28 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,140,000 2,140,000

CURRENT ASSETS
Cash at bank 189,056 123,552

CREDITORS
Amounts falling due within one year 5 1,094,401 1,094,744
NET CURRENT LIABILITIES (905,345 ) (971,192 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,234,655

1,168,808

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 6 375,233 375,233
Retained earnings 859,222 793,375
SHAREHOLDERS' FUNDS 1,234,655 1,168,808

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:



D Sloan - Director



P Cox - Director


Harpoint Properties Limited (Registered number: 04655777)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Harpoint 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 28 February 2024 2,140,000
NET BOOK VALUE
At 28 February 2024 2,140,000
At 28 February 2023 2,140,000

Harpoint Properties Limited (Registered number: 04655777)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

4. INVESTMENT PROPERTY - continued

Fair value at 28 February 2024 is represented by:
£   
Valuation in 2017 155,672
Valuation in 2018 131,680
Valuation in 2021 56,747
Cost 1,795,901
2,140,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,795,901 1,795,901

investment property was valued on an open market basis on 10 November 2023 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 18,355 16,252
Harpoint Builders Ltd 87,543 89,989
Harpoint Holdings Ltd 987,483 987,483
Accrued expenses 1,020 1,020
1,094,401 1,094,744

6. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 28 February 2024 375,233

7. RELATED PARTY DISCLOSURES

The creditors include £87,542 (2023 - £89,989) owed to Harpoint Builders Ltd and £987,483 owed to Harpoint Holdings Ltd, both of which Mr Sloan and Mr Cox are directors.