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Company No: 10858616 (England and Wales)

HA7 INVESTMENTS LTD

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

HA7 INVESTMENTS LTD

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

HA7 INVESTMENTS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 July 2024
HA7 INVESTMENTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 756,614 763,091
756,614 763,091
Current assets
Debtors
- due within one year 5 1,429,999 1,427,245
- due after more than one year 5 308,222 475,000
Cash at bank and in hand 434,361 163,815
2,172,582 2,066,060
Creditors: amounts falling due within one year 6 ( 2,132,682) ( 2,164,895)
Net current assets/(liabilities) 39,900 (98,835)
Total assets less current liabilities 796,514 664,256
Creditors: amounts falling due after more than one year 7 ( 4,652) ( 6,202)
Net assets 791,862 658,054
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 791,762 657,954
Total shareholders' funds 791,862 658,054

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of HA7 Investments LTD (registered number: 10858616) were approved and authorised for issue by the Director. They were signed on its behalf by:

R Hershman
Director

20 November 2024

HA7 INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
HA7 INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

HA7 Investments LTD (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents rent receivable during the period.

Rental income is recognised in the period to which it relates.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Vehicles 25 % reducing balance
Fixtures and fittings 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

4. Tangible assets

Investment property Vehicles Fixtures and fittings Total
£ £ £ £
Cost
At 01 August 2023 737,944 80,072 1,299 819,315
At 31 July 2024 737,944 80,072 1,299 819,315
Accumulated depreciation
At 01 August 2023 0 55,264 960 56,224
Charge for the financial year 0 6,203 274 6,477
At 31 July 2024 0 61,467 1,234 62,701
Net book value
At 31 July 2024 737,944 18,605 65 756,614
At 31 July 2023 737,944 24,808 339 763,091

Investment properties

The 2024 valuations were made by the directors, on an open market value for existing use basis.

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Other debtors 1,429,999 1,427,245
Debtors: amounts falling due after more than one year
Other debtors 308,222 475,000

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 2,079,492 2,079,180
Accruals and deferred income 8,255 6,971
Taxation and social security 44,935 28,744
Other creditors 0 50,000
2,132,682 2,164,895

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Taxation and social security 4,652 6,202

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
45 Ordinary A shares of £ 1.00 each 45 45
45 Ordinary B shares of £ 1.00 each 45 45
5 Ordinary C shares of £ 1.00 each 5 5
5 Ordinary D shares of £ 1.00 each 5 5
100 100

9. Ultimate controlling party

The company is controlled by the director.