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Company No: 08814983 (England and Wales)

HARVEY LLOYD PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

HARVEY LLOYD PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

HARVEY LLOYD PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 January 2024
HARVEY LLOYD PROPERTY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 298,912 299,677
Investments 4 100 100
299,012 299,777
Current assets
Debtors 5 9,554 9,554
9,554 9,554
Creditors: amounts falling due within one year 6 ( 344,209) ( 341,809)
Net current liabilities (334,655) (332,255)
Total assets less current liabilities (35,643) (32,478)
Net liabilities ( 35,643) ( 32,478)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 35,743 ) ( 32,578 )
Total shareholder's deficit ( 35,643) ( 32,478)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Harvey Lloyd Property Limited (registered number: 08814983) were approved and authorised for issue by the Board of Directors on 17 September 2024. They were signed on its behalf by:

K Harvey
Director
HARVEY LLOYD PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
HARVEY LLOYD PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Harvey Lloyd Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 Temple Back, Bristol, BS1 6FL, United Kingdom. The principal place of business is Ivy House Lakes, Grittenham, Chippenham, SN15 AJU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £35,643. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 February 2023 294,581 22,000 316,581
At 31 January 2024 294,581 22,000 316,581
Accumulated depreciation
At 01 February 2023 0 16,904 16,904
Charge for the financial year 0 765 765
At 31 January 2024 0 17,669 17,669
Net book value
At 31 January 2024 294,581 4,331 298,912
At 31 January 2023 294,581 5,096 299,677

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 February 2023 100
At 31 January 2024 100
Carrying value at 31 January 2024 100
Carrying value at 31 January 2023 100

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 9,554 9,554

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to connected companies 16,945 14,545
Amounts owed to directors 326,014 326,014
Accruals 1,250 1,250
344,209 341,809

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with owners holding a participating interest in the entity

2024 2023
£ £
Amounts owed to companies under common control 16,945 14,545

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to the director by the company 326,014 326,015

As a parent company of wholly owned subsidiary undertakings, the company has taken advantage of the exemption in paragraph 1AC.35 of FRS102 in not disclosing intra group transactions where 100% of the voting rights are controlled within the group.