Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false12023-03-01Investment property rental1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12460659 2023-03-01 2024-02-29 12460659 2022-03-01 2023-02-28 12460659 2024-02-29 12460659 2023-02-28 12460659 2022-03-01 12460659 c:Director1 2023-03-01 2024-02-29 12460659 d:FreeholdInvestmentProperty 2024-02-29 12460659 d:FreeholdInvestmentProperty 2023-02-28 12460659 d:CurrentFinancialInstruments 2024-02-29 12460659 d:CurrentFinancialInstruments 2023-02-28 12460659 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12460659 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12460659 d:ShareCapital 2024-02-29 12460659 d:ShareCapital 2023-02-28 12460659 d:RevaluationReserve 2024-02-29 12460659 d:RevaluationReserve 2023-02-28 12460659 d:RetainedEarningsAccumulatedLosses 2024-02-29 12460659 d:RetainedEarningsAccumulatedLosses 2023-02-28 12460659 d:RetirementBenefitObligationsDeferredTax 2024-02-29 12460659 d:RetirementBenefitObligationsDeferredTax 2023-02-28 12460659 c:FRS102 2023-03-01 2024-02-29 12460659 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12460659 c:FullAccounts 2023-03-01 2024-02-29 12460659 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12460659 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 12460659









HARLOW PROPERTY HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
HARLOW PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 12460659

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
2,020,000
2,020,000

Current assets
  

Debtors: amounts falling due within one year
 5 
261,692
73,001

Cash at bank and in hand
  
16,753
88,057

  
278,445
161,058

Creditors: amounts falling due within one year
 6 
(1,969,523)
(1,954,569)

Net current liabilities
  
 
 
(1,691,078)
 
 
(1,793,511)

Deferred tax
  
(87,260)
(87,260)

Net assets
  
241,662
139,229


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
261,781
261,781

Profit and loss account
  
(20,120)
(122,553)

  
241,662
139,229


Page 1

 
HARLOW PROPERTY HOLDINGS LIMITED
REGISTERED NUMBER: 12460659
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 November 2024.




P J O'Connor
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
HARLOW PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Harlow Property Holdings Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Farley House, Kinvara Business Park, 22-42 Freshwater Road, Dagenham, Essex, RM8 1RY. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 3

 
HARLOW PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
 
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilties like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
HARLOW PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Investment property





Freehold investment properties

£



Valuation


At 1 March 2023
2,020,000



At 29 February 2024
2,020,000

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



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

29 February
28 February
2024
2023
£
£


Historic cost
1,670,959
1,670,959


5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
8,663
-

Amounts owed by group undertakings
253,028
73,000

Other debtors
1
1

261,692
73,001


Page 5

 
HARLOW PROPERTY HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Corporation tax
31,743
18,385

Other creditors
1,921,933
1,921,933

Accruals and deferred income
15,847
14,251

1,969,523
1,954,569



7.


Deferred taxation






2024
2023


£

£






At beginning of year
(87,260)
(87,260)



At end of year
(87,260)
(87,260)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Revaluation of investment properties
(87,260)
(87,260)

 
Page 6