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Company Registration No. 11002985 (England and Wales)
Haycott Properties Ltd Unaudited accounts for the period from 1 November 2023 to 31 March 2024
Haycott Properties Ltd Unaudited accounts Contents
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Haycott Properties Ltd Company Information for the period from 1 November 2023 to 31 March 2024
Directors
David Haynes Philippa Scott
Company Number
11002985 (England and Wales)
Registered Office
The Old Stables, Ibornden Farm Frittenden Road Biddenden Kent TN27 8LG United Kingdom
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Haycott Properties Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
287 
356 
Investment property
905,000 
905,000 
905,287 
905,356 
Current assets
Debtors
1,071 
872 
Cash at bank and in hand
3,669 
3,337 
4,740 
4,209 
Creditors: amounts falling due within one year
(102,759)
(109,230)
Net current liabilities
(98,019)
(105,021)
Total assets less current liabilities
807,268 
800,335 
Creditors: amounts falling due after more than one year
(674,190)
(674,190)
Provisions for liabilities
Deferred tax
(39,246)
(39,246)
Net assets
93,832 
86,899 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
93,830 
86,897 
Shareholders' funds
93,832 
86,899 
For the period ending 31 March 2024 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.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
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
David Haynes Director Company Registration No. 11002985
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Haycott Properties Ltd Notes to the Accounts for the period from 1 November 2023 to 31 March 2024
1
Statutory information
Haycott Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 11002985. The registered office is The Old Stables, Ibornden Farm, Frittenden Road, Biddenden, Kent, TN27 8LG, United Kingdom.
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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant & machinery
25% Straight Line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Haycott Properties Ltd Notes to the Accounts for the period from 1 November 2023 to 31 March 2024
Going concern
These accounts have been prepared on the going concern basis. The Directors have provided loans to the company for the purposes of acquiring and refurbishing investment property for residential letting to tenants. The Directors have confirmed their continued support of the company and will not seek repayment of Directors loans until the company is profitable and has sufficient cash reserves to do so, as such the going concern basis is appropriate.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 November 2023
671 
At 31 March 2024
671 
Depreciation
At 1 November 2023
315 
Charge for the period
69 
At 31 March 2024
384 
Net book value
At 31 March 2024
287 
At 31 October 2023
356 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £0.01 each
2 
2 
6
Transactions with related parties
During the period the company entered into transactions with the following related parties: Mr D Haynes (Director) - Loan repayments were made to Mr D Haynes of £2,724 (2023: repayments of £54,312). The balance payable as at the end of the period was £24,639 (2023: £27,363). This loan has no fixed repayment date and no interest is charged. A further interest bearing loan is also outstanding. At the year end date the balance of this interest bearing loan was £29,000 (2023: £28,583), the only movement being due to interest accrued. Mrs P Scott (Director) - Loan repayments were made to Mrs P Scott of £3,069 (2023: repayments of £55,055). The balance payable as at the end of the period was £18,746 (2023: £21,815). This loan has no fixed repayment date and no interest is charged. A further interest bearing loan is also outstanding. At the year end date the balance of this interest bearing loan was £29,000 (2023: £28,583), the only movement being due to interest accrued.
7
Average number of employees
During the period the average number of employees was 0 (2023: 0).
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