BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 The company was not dormant during the period The company was trading for the entire period The Principal Activity of the company is the letting of Property. 19 September 2024 2 2 NI674627 2023-12-31 NI674627 2023-01-31 NI674627 2022-01-31 NI674627 2023-02-01 2023-12-31 NI674627 2022-02-01 2023-01-31 NI674627 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2023-12-31 NI674627 uk-curr:PoundSterling 2023-02-01 2023-12-31 NI674627 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2023-12-31 NI674627 uk-bus:FullAccounts 2023-02-01 2023-12-31 NI674627 uk-bus:Director1 2023-02-01 2023-12-31 NI674627 uk-bus:Director2 2023-02-01 2023-12-31 NI674627 uk-bus:RegisteredOffice 2023-02-01 2023-12-31 NI674627 uk-bus:Agent1 2023-02-01 2023-12-31 NI674627 uk-core:ShareCapital 2023-12-31 NI674627 uk-core:ShareCapital 2023-01-31 NI674627 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI674627 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI674627 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI674627 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI674627 uk-bus:FRS102 2023-02-01 2023-12-31 NI674627 uk-core:LandBuildings 2023-02-01 2023-12-31 NI674627 uk-core:PlantMachinery 2023-02-01 2023-12-31 NI674627 uk-core:FurnitureFittingsToolsEquipment 2023-02-01 2023-12-31 NI674627 uk-core:OtherPropertyPlantEquipment 2023-02-01 2023-12-31 NI674627 uk-bus:Audited 2023-02-01 2023-12-31 NI674627 uk-core:CurrentFinancialInstruments 2023-12-31 NI674627 uk-core:CurrentFinancialInstruments 2023-01-31 NI674627 uk-core:CurrentFinancialInstruments 2023-12-31 NI674627 uk-core:CurrentFinancialInstruments 2023-01-31 NI674627 uk-core:WithinOneYear 2023-12-31 NI674627 uk-core:WithinOneYear 2023-01-31 NI674627 uk-core:WithinOneYear 2023-12-31 NI674627 uk-core:WithinOneYear 2023-01-31 NI674627 uk-core:AfterOneYear 2023-12-31 NI674627 uk-core:AfterOneYear 2023-01-31 NI674627 uk-core:BetweenOneTwoYears 2023-12-31 NI674627 uk-core:BetweenOneTwoYears 2023-01-31 NI674627 uk-core:BetweenTwoFiveYears 2023-12-31 NI674627 uk-core:BetweenTwoFiveYears 2023-01-31 NI674627 uk-core:ParentEntities 2023-02-01 2023-12-31 NI674627 2023-02-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI674627
 
 
Hannon Holdings Property Limited
 
Financial Statements
 
for the financial period ended 31 December 2023
Hannon Holdings Property Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Aodh Hannon
Mrs. Teresa Hannon
 
 
Company Registration Number NI674627
 
 
Registered Office and Business Address 21 Brankinstown Road
Aghalee
Lurgan
Co. Armagh
BT67 0DF
Northern Ireland
 
 
Independent Auditors MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers HSBC UK Bank PLC
  25-29 Royal Avenue
  Belfast
  Co. Antrim
  BT1 1FB
  United Kingdom
   
   
  HSBC
  1 Grand Canal Square
  Grand Canal Harbour
  Dublin 2
  Ireland
 
   
Solicitors Tughans
  Marlborough House
  30 Victoria Street
  Belfast
  Co. Antrim
  BT1 3GG
  United Kingdom



Hannon Holdings Property Limited
Company Registration Number: NI674627
BALANCE SHEET
as at 31 December 2023

Dec 23 Jan 23
Notes £ £
 
Fixed Assets
Tangible assets 6 6,532,851 5,251,424
───────── ─────────
 
Current Assets
Debtors 7 703,583 1,140,164
Cash and cash equivalents 32,026 118,828
───────── ─────────
735,609 1,258,992
───────── ─────────
Creditors: amounts falling due within one year 8 (6,720,961) (5,835,166)
───────── ─────────
Net Current Liabilities (5,985,352) (4,576,174)
───────── ─────────
Total Assets less Current Liabilities 547,499 675,250
 
Creditors:
amounts falling due after more than one year 9 (482,358) (578,927)
───────── ─────────
Net Assets 65,141 96,323
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 65,041 96,223
───────── ─────────
Equity attributable to owners of the company 65,141 96,323
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
Approved by the Board and authorised for issue on 19 September 2024 and signed on its behalf by
           
           
________________________________          
Mr. Aodh Hannon          
Director          
           



Hannon Holdings Property Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial period ended 31 December 2023

   
1. General Information
 
Hannon Holdings Property Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI674627. The registered office of the company is 21 Brankinstown Road, Aghalee, Lurgan, Co. Armagh, BT67 0DF, Northern Ireland which is also the principal place of business of the company. The Principal Activity of the company is the letting of Property. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. Land is not depreciated. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Freehold Property - 4% Straight line
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
  Land - 0%
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. On the occasion of a revaluation the difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost 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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company‘s taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 11 month period ended 31 December 2023.
   
4. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by MG accountants.
The Auditor's Report was signed by Claire Garvey (Senior Statutory Auditor) for and on behalf of MG accountants on 19th September 2024.
 
       
5. Employees
 
The average monthly number of employees, including directors, during the financial period was 2,
 
  Dec 23 Jan 23
  Number Number
 
Directors 2 2
  ═════════ ═════════

               
6. Tangible assets
  Freehold Property Investment Plant and Fixtures, Land Total
    properties machinery fittings and    
        equipment    
  £ £ £ £ £ £
Cost
At 1 February 2023 3,101,166 240,995 389,054 21,857 1,746,201 5,499,273
Additions 124,917 353,662 50,214 5,623 925,503 1,459,919
Transfers (17,803) 1,536 8,238 - 8,029 -
  ───────── ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 3,208,280 596,193 447,506 27,480 2,679,733 6,959,192
  ───────── ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2023 197,781 - 48,042 2,026 - 247,849
Charge for the financial period 108,701 - 65,310 4,481 - 178,492
  ───────── ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 306,482 - 113,352 6,507 - 426,341
  ───────── ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 2,901,798 596,193 334,154 20,973 2,679,733 6,532,851
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════
At 31 January 2023 2,903,385 240,995 341,012 19,831 1,746,201 5,251,424
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════

       
7. Debtors Dec 23 Jan 23
  £ £
 
Trade debtors 18,333 -
Amounts owed by group undertakings 511,326 232,618
Amounts owed by related parties 690 -
Other debtors 168,729 890,981
Taxation  (Note 10) 2,110 16,565
Prepayments and accrued income 2,395 -
  ───────── ─────────
  703,583 1,140,164
  ═════════ ═════════
       
8. Creditors Dec 23 Jan 23
Amounts falling due within one year £ £
 
Bank loan 118,803 131,646
Trade creditors 14,517 44,221
Amounts owed to group undertakings 6,546,557 5,616,844
Taxation  (Note 10) 32,462 32,559
Other creditors 2,872 2,748
Accruals 5,750 7,148
  ───────── ─────────
  6,720,961 5,835,166
  ═════════ ═════════
 
HSBC holds the following security:
(i)  First Legal Mortgage over the freehold property of Hannon Holdings Property known as Lands & Warehouse at Blakes Cross, Lusk, Swords, Dublin, Ireland.
(ii) Debenture comprising fixed and floating charges over all the assets and undertaking of Hannon Holdings Property Ltd including all present and future freehold and leasehold property, book and other debts, chattels goodwill uncalled capital, both present and future.
(iii) Group Guarantee in favour of the Bank from Hannon Holdings property Limited, Hannon Logistics Limited, Hannon Transport Limited, Hannon Holdings Limited, Hannon Fleet Sales Limited, Hannon Coach Hire Limited guaranteeing the obligations of each other to the bank.
       
9. Creditors Dec 23 Jan 23
Amounts falling due after more than one year £ £
 
Bank loan 482,358 578,927
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 118,803 131,646
Repayable between one and two years 118,804 131,646
Repayable between two and five years 363,554 447,281
  ───────── ─────────
  601,161 710,573
  ═════════ ═════════
 
       
10. Taxation Dec 23 Jan 23
  £ £
 
Debtors:
VAT 2,110 16,565
  ═════════ ═════════
Creditors:
Corporation tax 32,462 32,559
  ═════════ ═════════
           
11. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
   
12. Parent company
 
The company regards Hannon Holdings Ltd as its parent company.