0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,500,000 4,500,000 4,500,000 xbrli:pure xbrli:shares iso4217:GBP 09910819 2023-01-01 2023-12-31 09910819 2023-12-31 09910819 2022-12-31 09910819 2022-01-01 2022-12-31 09910819 2022-12-31 09910819 2021-12-31 09910819 bus:Director2 2023-01-01 2023-12-31 09910819 bus:Director3 2023-01-01 2023-12-31 09910819 core:WithinOneYear 2023-12-31 09910819 core:WithinOneYear 2022-12-31 09910819 core:AfterOneYear 2023-12-31 09910819 core:AfterOneYear 2022-12-31 09910819 core:ShareCapital 2023-12-31 09910819 core:ShareCapital 2022-12-31 09910819 core:RetainedEarningsAccumulatedLosses 2023-12-31 09910819 core:RetainedEarningsAccumulatedLosses 2022-12-31 09910819 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 09910819 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 09910819 bus:SmallEntities 2023-01-01 2023-12-31 09910819 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09910819 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09910819 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09910819 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 09910819
Hayre Investments (Reet Gardens) Limited
Filleted Unaudited Financial Statements
31 December 2023
Hayre Investments (Reet Gardens) Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
4,500,000
4,500,000
Current assets
Cash at bank and in hand
72,326
2,494
Creditors: amounts falling due within one year
5
1,026,510
1,126,450
------------
------------
Net current liabilities
954,184
1,123,956
------------
------------
Total assets less current liabilities
3,545,816
3,376,044
Creditors: amounts falling due after more than one year
6
3,555,451
3,379,937
Provisions
81,670
81,670
------------
------------
Net liabilities
( 91,305)
( 85,563)
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 91,405)
( 85,663)
--------
--------
Shareholders deficit
( 91,305)
( 85,563)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hayre Investments (Reet Gardens) Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
Mr R Minhas
Mr R Minhas
Director
Director
Company registration number: 09910819
Hayre Investments (Reet Gardens) Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Ripley View, Loughton, England, IG10 2PB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Tangible assets
Freehold property
£
Cost
At 1 January 2023 and 31 December 2023
4,500,000
------------
Depreciation
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
4,500,000
------------
At 31 December 2022
4,500,000
------------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,249
5,119
Trade creditors
3,599
50,000
Other creditors
1,017,662
1,071,331
------------
------------
1,026,510
1,126,450
------------
------------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,555,451
3,379,937
------------
------------
7. Related party transactions
As at 31st December 2023 Hayre investments Reet Gardens owed Hayre investments Slough £915,861.61. Hayre investments Slough and Hayre investments Reet Gardens are both wholly owned by RSM securities Limited.