Company Registration No. 13075690 (England and Wales)
Haven Property Enterprises Ltd
Unaudited accounts
for the year ended 31 December 2023
Haven Property Enterprises Ltd
Unaudited accounts
Contents
Haven Property Enterprises Ltd
Company Information
for the year ended 31 December 2023
Directors
Herjinder Rai
Bhupinder Singh
Company Number
13075690 (England and Wales)
Registered Office
Europa House
20 Esplanade
Scarborough
North Yorkshire
YO11 2AQ
England
Accountants
Wright Pottage Limited
Europa House
20 Esplanade
Scarborough
North Yorkshire
YO11 2AQ
Haven Property Enterprises Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
13,858
688,840
Investment property
700,000
-
Cash at bank and in hand
5,602
381
Creditors: amounts falling due within one year
(312,305)
(301,544)
Net current liabilities
(306,396)
(301,163)
Total assets less current liabilities
407,462
387,677
Creditors: amounts falling due after more than one year
(434,695)
(434,695)
Provisions for liabilities
Net liabilities
(35,084)
(47,018)
Called up share capital
100
100
Revaluation reserve
22,245
-
Profit and loss account
(57,429)
(47,118)
Shareholders' funds
(35,084)
(47,018)
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by
Herjinder Rai
Director
Company Registration No. 13075690
Haven Property Enterprises Ltd
Notes to the Accounts
for the year ended 31 December 2023
Haven Property Enterprises Ltd is a private company, limited by shares, registered in England and Wales, registration number 13075690. The registered office is Europa House, 20 Esplanade, Scarborough, North Yorkshire, YO11 2AQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% reducing balance
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company during this uncertain period
The completed investment properties are stated at fair value in accordance with the requirements of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland''.
The investment properties have been valued by the directors at fair value taking into account existing tenancy arrangements.
During the year a increase in the fair value of investment properties of £27,463 has been included directly in the profit and loss account.
Haven Property Enterprises Ltd
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2023
672,537
27,319
699,856
Disposals
(672,537)
-
(672,537)
At 31 December 2023
-
27,319
27,319
At 1 January 2023
-
11,016
11,016
Charge for the year
-
2,445
2,445
At 31 December 2023
-
13,461
13,461
At 31 December 2023
-
13,858
13,858
At 31 December 2022
672,537
16,303
688,840
Net gain from fair value adjustments
27,463
At 31 December 2023
700,000
The company changed the classification of land and buildings to that of investment property in the year. All freehold property is held as investment property.
Amounts falling due within one year
Accrued income and prepayments
307
-
7
Creditors: amounts falling due within one year
2023
2022
Loans from directors
311,525
300,014
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
434,695
434,695
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).