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REGISTERED NUMBER: 11229567 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

HARMER LONDON ESTATES LIMITED

HARMER LONDON ESTATES LIMITED (REGISTERED NUMBER: 11229567)






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


HARMER LONDON ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: B Harmer
Mr J Harmer





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 11229567 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

HARMER LONDON ESTATES LIMITED (REGISTERED NUMBER: 11229567)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,407,370 1,764,438

CURRENT ASSETS
Debtors 5 3,169 930
Cash at bank and in hand 20,678 9,842
23,847 10,772
CREDITORS
Amounts falling due within one year 6 1,289,683 1,169,502
NET CURRENT LIABILITIES (1,265,836 ) (1,158,730 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,141,534

605,708

CREDITORS
Amounts falling due after more than one
year

7

(669,472

)

(388,960

)

PROVISIONS FOR LIABILITIES (104,565 ) (42,565 )
NET ASSETS 367,497 174,183

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 9 367,462 181,462
Retained earnings (65 ) (7,379 )
367,497 174,183

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 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.

HARMER LONDON ESTATES LIMITED (REGISTERED NUMBER: 11229567)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





B Harmer - Director


HARMER LONDON ESTATES LIMITED (REGISTERED NUMBER: 11229567)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Harmer London Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the
purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from
changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.


HARMER LONDON ESTATES LIMITED (REGISTERED NUMBER: 11229567)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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 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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 1,764,438
Additions 394,932
Revaluations 248,000
At 29 February 2024 2,407,370
NET BOOK VALUE
At 29 February 2024 2,407,370
At 28 February 2023 1,764,438

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2023 224,028
Valuation in 2024 248,000
Cost 1,935,342
2,407,370

Investment property was valued on an open market basis on 28 February 2024 by the directors .

HARMER LONDON ESTATES LIMITED (REGISTERED NUMBER: 11229567)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,343 930
Other debtors 1,826 -
3,169 930

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to connected companies 280,831 160,321
Other creditors 1,008,852 1,009,181
1,289,683 1,169,502

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 669,472 388,960

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 669,472 388,960

Bank loan is secured by way of fixed charge on the property and other assets of the company and contains a negative pledge.

9. RESERVES
Fair
value
reserve
£   
At 1 March 2023 181,462
Revaluation of Inv property 186,000

At 29 February 2024 367,462

10. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is an amount of £977,111 (2023:£977,861) owed to the director's of the company. This loan is interest free and repayable on demand.

Included in creditors, amounts falling due within one year, is an amount of £280,831 (2023: £160,321) owed to the connected company. This loan is interest free and repayable on demand.