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REGISTERED NUMBER: 07196967 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

HACKBERRY PROPERTIES UK LIMITED

HACKBERRY PROPERTIES UK LIMITED (REGISTERED NUMBER: 07196967)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HACKBERRY PROPERTIES UK LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTOR: S A Robinson





SECRETARY:





REGISTERED OFFICE: Belmore Park
Belmore Lane
Upham
Hampshire
SO32 1HQ





REGISTERED NUMBER: 07196967 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

HACKBERRY PROPERTIES UK LIMITED (REGISTERED NUMBER: 07196967)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 50,900 67,867
Investments 5 450 450
51,350 68,317

CURRENT ASSETS
Stocks 13,406 -
Debtors 6 51,467 48,813
Cash at bank 6,380 19,914
71,253 68,727
CREDITORS
Amounts falling due within one year 7 15,582,742 16,798,777
NET CURRENT LIABILITIES (15,511,489 ) (16,730,050 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(15,460,139

)

(16,661,733

)

CAPITAL AND RESERVES
Called up share capital 4 3
Share premium 14,787,497 13,462,498
Fair value reserve - 2,017,398
Retained earnings (30,247,640 ) (32,141,632 )
(15,460,139 ) (16,661,733 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HACKBERRY PROPERTIES UK LIMITED (REGISTERED NUMBER: 07196967)

BALANCE SHEET - continued
29 February 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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 October 2024 and were signed by:





S A Robinson - Director


HACKBERRY PROPERTIES UK LIMITED (REGISTERED NUMBER: 07196967)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Hackberry Properties UK 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.

Going concern
The director continues to monitor the ongoing developments in relation to Coronavirus. At the date of approval of these financial statements, the directors has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities, as they fall due in the foreseeable future, being a period of at least twelve months from the date of these financial statements being approved. Accordingly the company continues to adopt the going concern basis in preparation of these financial statements. The financial statements have been prepared on a going concern basis dependent on the continued support from the holding company and the director.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on Reducing Balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

HACKBERRY PROPERTIES UK LIMITED (REGISTERED NUMBER: 07196967)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Employment benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 131,623
DEPRECIATION
At 1 March 2023 63,756
Charge for year 16,967
At 29 February 2024 80,723
NET BOOK VALUE
At 29 February 2024 50,900
At 28 February 2023 67,867

HACKBERRY PROPERTIES UK LIMITED (REGISTERED NUMBER: 07196967)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2023
and 29 February 2024 450
NET BOOK VALUE
At 29 February 2024 450
At 28 February 2023 450

There is a fixed charge over the investment in Known Estates Limited.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 51,379 48,240
Other debtors 88 573
51,467 48,813

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 172,716 74,116
Other creditors 15,410,026 16,724,661
15,582,742 16,798,777

Within other creditors, at the balance sheet date, an amount of £15,397,321 (2023 - £16,723,161) is due to the director of the company. The security for this directors loan is a fixed and floating charge over the assets in the company.

8. OTHER FINANCIAL COMMITMENTS

Hackberry Properties UK Limited is party to a cross-guarantee for loans advanced to fellow subsidiary companies and former fellow subsidiary companies in the R Estates (2010) Limited group. The contingent liability in respect of this guarantee (including the director's loan -see note 8) is £15,397,321 (2023 - £26,987,589).

9. RELATED PARTY DISCLOSURES

During the year, the company provided cross-guarantees, along with the parent company and fellow subsidiary companies, in support of the loans outstanding to fellow subsidiary companies. the company has taken advantage of the exception available under FR102 Section 33.1A 'Related party disclosures' where it has not disclosed transactions with its parent company.

10. ULTIMATE CONTROLLING PARTY

The parent company of Hackberry Properties UK Limited is R Estates (2010) Limited and its registered office is Belmore Park, Hampshire, SO32 1HQ, United Kingdom.