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Company No: 11512576 (England and Wales)

HARLEQUIN HOUSE PROPERTIES LTD

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

HARLEQUIN HOUSE PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

HARLEQUIN HOUSE PROPERTIES LTD

BALANCE SHEET

As at 31 August 2024
HARLEQUIN HOUSE PROPERTIES LTD

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 5,924,284 4,949,088
Investments 4 21,000 21,000
5,945,284 4,970,088
Current assets
Debtors 5 1,154,629 1,183,605
Cash at bank and in hand 132,351 213,581
1,286,980 1,397,186
Creditors: amounts falling due within one year 6 ( 739,126) ( 162,293)
Net current assets 547,854 1,234,893
Total assets less current liabilities 6,493,138 6,204,981
Net assets 6,493,138 6,204,981
Capital and reserves
Called-up share capital 7 50,058 50,058
Share premium account 5,141,455 5,141,455
Profit and loss account 1,301,625 1,013,468
Total shareholders' funds 6,493,138 6,204,981

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

Directors' responsibilities:

The financial statements of Harlequin House Properties Ltd (registered number: 11512576) were approved and authorised for issue by the Board of Directors on 26 November 2024. They were signed on its behalf by:

Mr J S Ellison
Director
HARLEQUIN HOUSE PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
HARLEQUIN HOUSE PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 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

Harlequin House Properties 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 Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services are recognised as they are delivered.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

The company's freehold and long leasehold properties are held for long-term investment. Investment properties are accounted for in accordance with FRS 102, as follows:

Investment properties are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 September 2023 4,949,088
Additions 975,196
As at 31 August 2024 5,924,284

There has been no valuation undertaken by an external independent valuer. The directors consider the amount as at 31 August 2024 to represent the correct fair value.

4. Fixed asset investments

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 September 2023 21,000 21,000
At 31 August 2024 21,000 21,000
Carrying value at 31 August 2024 21,000 21,000
Carrying value at 31 August 2023 21,000 21,000

5. Debtors

2024 2023
£ £
Trade debtors 2,426 5,599
Amounts owed by connected companies 1,136,852 1,177,084
Prepayments 14,430 0
Other debtors 921 922
1,154,629 1,183,605

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 590,497 50,498
Accruals and deferred income 29,304 25,069
Taxation and social security 119,325 84,726
Other creditors 0 2,000
739,126 162,293

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,005,773 Ordinary shares of £ 0.01 each 50,058 50,058