Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-301The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-10-01falseNo description of principal activity1truetruefalse 11439206 2022-10-01 2023-09-30 11439206 2021-10-01 2022-09-30 11439206 2023-09-30 11439206 2022-09-30 11439206 c:Director1 2022-10-01 2023-09-30 11439206 d:FreeholdInvestmentProperty 2023-09-30 11439206 d:FreeholdInvestmentProperty 2022-09-30 11439206 d:FreeholdInvestmentProperty 2 2022-10-01 2023-09-30 11439206 d:CurrentFinancialInstruments 2023-09-30 11439206 d:CurrentFinancialInstruments 2022-09-30 11439206 d:Non-currentFinancialInstruments 2023-09-30 11439206 d:Non-currentFinancialInstruments 2022-09-30 11439206 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 11439206 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 11439206 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 11439206 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 11439206 d:ShareCapital 2023-09-30 11439206 d:ShareCapital 2022-09-30 11439206 d:SharePremium 2022-10-01 2023-09-30 11439206 d:SharePremium 2023-09-30 11439206 d:SharePremium 2022-09-30 11439206 d:RevaluationReserve 2022-10-01 2023-09-30 11439206 d:RevaluationReserve 2023-09-30 11439206 d:RevaluationReserve 2022-09-30 11439206 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 11439206 d:RetainedEarningsAccumulatedLosses 2023-09-30 11439206 d:RetainedEarningsAccumulatedLosses 2022-09-30 11439206 c:OrdinaryShareClass1 2022-10-01 2023-09-30 11439206 c:OrdinaryShareClass1 2023-09-30 11439206 c:OrdinaryShareClass1 2022-09-30 11439206 c:FRS102 2022-10-01 2023-09-30 11439206 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 11439206 c:FullAccounts 2022-10-01 2023-09-30 11439206 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 11439206 2 2022-10-01 2023-09-30 11439206 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 11439206 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 11439206 f:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11439206









HALE VILLAGE ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
HALE VILLAGE ESTATES LIMITED
REGISTERED NUMBER: 11439206

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investment property
 4 
2,575,000
2,930,200

Current assets
  

Debtors: amounts falling due within one year
 5 
169,892
53,052

Cash at bank and in hand
 6 
774
43,762

  
170,666
96,814

Creditors: amounts falling due within one year
 7 
(560,530)
(539,900)

Net current liabilities
  
 
 
(389,864)
 
 
(443,086)

Total assets less current liabilities
  
2,185,136
2,487,114

Creditors: amounts falling due after more than one year
 8 
(1,124,013)
(1,124,013)

Provisions for liabilities
  

Deferred tax
 9 
(213,441)
(302,241)

Net assets
  
847,682
1,060,860


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Share premium account
 11 
103,594
103,594

Revaluation reserve
 11 
640,321
906,721

Profit and loss account
 11 
102,767
49,545

  
847,682
1,060,860


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
HALE VILLAGE ESTATES LIMITED
REGISTERED NUMBER: 11439206
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 September 2024.




M Polledri
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HALE VILLAGE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Hale Village Estates Limited is a private company, limited by shares, incorporated in England and Wales, registration number 11439206. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.
The principal activity of the company during the period was that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

The Company's only source of revenue is rental income from investment properties let to third parties. Revenue is recognised in the accounting period in which the services are rendered.
Revenue represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the Company.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the the Statement of comprehensive income account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
HALE VILLAGE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income, with unrealised gains over original cost being transferred to a separate revaluation reserve.

 
2.7

Debtors

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

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 4

 
HALE VILLAGE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company only enters into basic financial instrument 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, loans to related parties and investments in ordinary shares.


3.


Employees




The average monthly number of employees, including the director, during the year was as follows:


2023
2022
No.
No.







Director
1
1


4.


Investment property


Investment property

£



Valuation


At 1 October 2022
2,930,200


Surplus on revaluation
(355,200)



At 30 September 2023
2,575,000

A formal valuation was undertaken by Colliers International Property Consultants Limited on 14 July 2023, on an open market value for existing use basis. The director considers the valuation to be appropriate at 30 September 2023. The historic cost of the investment property is £1,721,238 (2022 - £1,721,238).






Page 5

 
HALE VILLAGE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Debtors

2023
2022
£
£

Trade debtors
34,640
34,545

Other debtors
124,670
5,000

Prepayments and accrued income
10,582
13,507

169,892
53,052



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
774
43,762



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
136
2,647

Corporation tax
24,226
12,144

Other creditors
530,876
520,909

Accruals and deferred income
5,292
4,200

560,530
539,900



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed by group undertakings
1,124,013
1,124,013


The above loans are secured by fixed and floating charges over the assets of the company, including the investment property.
During 2019, the bank loan was repaid in full and a new loan was received by the parent company, Lee Valley Estates Limited, which was subsequently allocated around the Group. The Company is liable to pay interest on it's portion of the loan and this is paid quarterly in line with the loan agreement. The loan received by the parent company is cross guaranteed by all companies in the Group that received the funds and is secured on assets held by such companies and by floating charges over all other property, rights and assets both present and future. Please see note 12 for further information.

Page 6

 
HALE VILLAGE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Deferred taxation




2023


£






At beginning of year
(302,241)


Charged to profit or loss
88,800



At end of year
(213,441)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised gain on revaluation of investment properties
(213,441)
(302,241)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


During 2019 1 Ordinary £1 share was issued at par value and 999 Ordinary £1 shares were issued at premium of £103.70 per share.



11.


Reserves

Share premium account

The share premium account represents the consideration of shares issued above par value.

Revaluation reserve

The revaluation reserve represents unrealised valuation gains of investment property.

Profit and loss account

The Statement of comprehensive income account represents cumulative distributable profits and losses net of dividends and other adjustments.

Page 7

 
HALE VILLAGE ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

12.


Contingent liabilities

During the prior year the parent company, Lee Valley Estates Limited, received a bank loan for £22,000,000. These funds were subsequently allocated between the subsidiaries within the Group. The Company received £1,124,013 (2022 - £1,124,013) of this loan. The loan received by the parent company is cross guaranteed by all companies in the Group that received the funds and is secured on assets held by such companies.


13.


Directors' benefits: advances, credits and guarantees

2023
£

Balance brought forward

-

Advances

5,000

Repayments

-

Interest

-


5,000



14.


Related party transactions

Included within other debtors are amounts of £119,670 (2022 - £5,000) due from companies under common control.
Included within other creditors are amounts of £471,213 (
2022 - £461,246) due to companies under common control.


15.


Controlling party

The immediate parent company is Lee Valley Estates Limited. The ultimate controlling party is considered to be M Polledri.
 
Page 8