HARROWELLS (NO 221) LIMITED

Company Registration Number:
13138941 (England and Wales)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

HARROWELLS (NO 221) LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

HARROWELLS (NO 221) LIMITED

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 4,262,385 4,262,385
Total fixed assets: 4,262,385 4,262,385
Current assets
Stocks: 1 178,481
Debtors:   74,945 143,465
Total current assets: 74,946 321,946
Creditors: amounts falling due within one year:   (6,923,075) (2,364,926)
Net current assets (liabilities): (6,848,129) (2,042,980)
Total assets less current liabilities: (2,585,744) 2,219,405
Creditors: amounts falling due after more than one year: 4 0 (3,142,306)
Total net assets (liabilities): (2,585,744) (922,901)
Capital and reserves
Called up share capital: 100 100
Profit and loss account: (2,585,844) (923,001)
Shareholders funds: (2,585,744) (922,901)

The notes form part of these financial statements

HARROWELLS (NO 221) LIMITED

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption 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 this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 31 October 2024
and signed on behalf of the board by:

Name: P Ellis
Status: Director

The notes form part of these financial statements

HARROWELLS (NO 221) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at fair value of the consideration received or receivable, net of discounts and value added tax.

Tangible fixed assets and depreciation policy

Investment property Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. Impairment of fixed assets Fixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared to its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised in the profit and loss account. The reversal of an impairment loss is recognised immediately in the profit and loss account.

Other accounting policies

Going concern The company meets its day to day working capital requirements through its available cash resources and by cash flows generated through trading activities. The directors are of the opinion that the company has sufficient working capital available through its existing sources of finance to continue to operate at its expected level of business activity for the foreseeable future. On this basis the directors consider it is appropriate to prepare the accounts on a going concern basis. The accounts do not include any adjustments that would result should the director's expectations of the company's trading performance and resultant cash flows not be achieved. The directors however of the opinion that there would be no significant difference in the value of the company's assets and liabilities should a break up value basis be used to prepare the accounts and not the going concern basis. Stocks Work in progress comprises of direct costs in relation to the planning and development of the property. Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method, less any impairment. Creditors Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.

HARROWELLS (NO 221) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

HARROWELLS (NO 221) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Tangible Assets

Total
Cost £
At 01 February 2023 4,262,385
At 31 January 2024 4,262,385
Depreciation
At 01 February 2023 0
At 31 January 2024 0
Net book value
At 31 January 2024 4,262,385
At 31 January 2023 4,262,385

There has been no valuation of investment property by an independent valuer. The directors are of the opinion that there is no material difference between the current market value of the investment property and its historic cost.

HARROWELLS (NO 221) LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Creditors: amounts falling due after more than one year note

Security Loans totalling £5,077,798 (2023 £4,000,727) are secured by a legal charge over the investment property.