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REGISTERED NUMBER: 04146797 (England and Wales)












HASSCO INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






HASSCO INVESTMENTS LIMITED (REGISTERED NUMBER: 04146797)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HASSCO INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr M Hassan
Mr A Hassan





SECRETARY: Mrs Fatma Hassan





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 04146797 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

HASSCO INVESTMENTS LIMITED (REGISTERED NUMBER: 04146797)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 12,614,546 12,200,000

CURRENT ASSETS
Debtors 5 23,469 5,506
Cash at bank 58,110 217,228
81,579 222,734
CREDITORS
Amounts falling due within one year 6 2,200,129 1,922,528
NET CURRENT LIABILITIES (2,118,550 ) (1,699,794 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,495,996

10,500,206

CREDITORS
Amounts falling due after more than one
year

7

4,635,620

4,476,900
NET ASSETS 5,860,376 6,023,306

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 5,645,099 5,645,099
Retained earnings 10 215,177 378,107
SHAREHOLDERS' FUNDS 5,860,376 6,023,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HASSCO INVESTMENTS LIMITED (REGISTERED NUMBER: 04146797)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





Mr A Hassan - Director


HASSCO INVESTMENTS LIMITED (REGISTERED NUMBER: 04146797)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Hassco Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents gross rents receivable for the year. Turnover is recognised when the rent becomes due under the lease agreement.

Investment property
The company's investment properties are held for long term investment and are included in the balance sheet at their open market values. No depreciation is provided in respect of Freehold and long leasehold investment properties. An investment property on short leasehold where the remaining life is less than 20 years is amortised over the life of the lease.

This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the accounts may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown, cannot be separately identified or quantified.

The surplus(es) or deficit(s) on revaluation of such properties are transferred to revaluation reserve, apart from when the revaluation is below the original cost and in the opinion of the directors the diminution in value is of a permanent nature which is charged to the profit and loss account. On the disposal of a revalued fixed asset, any related balances in the revaluation reserve are transferred to the profit and loss account as a movement in reserves.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HASSCO INVESTMENTS LIMITED (REGISTERED NUMBER: 04146797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 12,200,000
Additions 414,546
At 31 January 2024 12,614,546
NET BOOK VALUE
At 31 January 2024 12,614,546
At 31 January 2023 12,200,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2021 5,645,099
Cost 6,969,447
12,614,546

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Directors' loan accounts 20,000 -
Prepayments 3,469 5,506
23,469 5,506

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 72,709 270,200
Trade creditors 3,770 5,400
Tax 8,696 34,805
Other creditors 96,640 97,471
Amounts due to related company 1,712,692 1,494,550
Directors' current accounts 301,422 16,262
Accrued expenses 4,200 3,840
2,200,129 1,922,528

HASSCO INVESTMENTS LIMITED (REGISTERED NUMBER: 04146797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 1-2 years 12,275 444,753
Bank loans - 2-5 years 4,623,345 4,032,147
4,635,620 4,476,900

8. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 4,708,329 4,747,100

The bank loans are secured on the trading stock and all other assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2023 378,107 5,645,099 6,023,206
Profit for the year 37,070 37,070
Dividends (200,000 ) (200,000 )
At 31 January 2024 215,177 5,645,099 5,860,276

11. ULTIMATE CONTROLLING PARTY

Hassco Group Limited, controls the company as a result of holding 100 percent of the issued share capital.