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REGISTERED NUMBER: 10840875 (England and Wales)






























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

HAGGER DEVELOPMENTS LIMITED

HAGGER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10840875)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAGGER DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr G Hagger
Mr B Hagger
Mr R Hagger





REGISTERED OFFICE: Unit D, Sandown Court
Station Road
Glenfield
Leicester
Leicestershire
LE3 8BT





REGISTERED NUMBER: 10840875 (England and Wales)

HAGGER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10840875)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 152,508 157,635
Investment property 5 3,185,000 2,819,000
3,337,508 2,976,635

CURRENT ASSETS
Debtors 6 8,305 10,206
Cash at bank and in hand 27,562 70,847
35,867 81,053
CREDITORS
Amounts falling due within one year 7 1,822,569 1,697,391
NET CURRENT LIABILITIES (1,786,702 ) (1,616,338 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,550,806

1,360,297

CREDITORS
Amounts falling due after more than one year 8 (165,401 ) (165,351 )

PROVISIONS FOR LIABILITIES (302,439 ) (263,421 )
NET ASSETS 1,082,966 931,525

HAGGER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10840875)

BALANCE SHEET - continued
31 JULY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 30 30
Non distributable reserves 907,316 790,264
Retained earnings 175,620 141,231
1,082,966 931,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 21 November 2024 and were signed on its behalf by:




Mr G Hagger - Director Mr B Hagger - Director




Mr R Hagger - Director


HAGGER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10840875)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Hagger Developments 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 as modified by the revaluation of certain assets.

Turnover
Turnover consists of rental income from the properties owned by the business. The income is recognised in the period in which the rental relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost excluding land
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 3 (2023 - 3 ) .

HAGGER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10840875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 150,000 17,492 167,492
DEPRECIATION
At 1 August 2023 3,000 6,857 9,857
Charge for year 3,000 2,127 5,127
At 31 July 2024 6,000 8,984 14,984
NET BOOK VALUE
At 31 July 2024 144,000 8,508 152,508
At 31 July 2023 147,000 10,635 157,635

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 2,819,000
Additions 209,931
Revaluations 156,069
At 31 July 2024 3,185,000
NET BOOK VALUE
At 31 July 2024 3,185,000
At 31 July 2023 2,819,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2024 3,185,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,974,650 1,765,314

HAGGER DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10840875)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. INVESTMENT PROPERTY - continued

Investment properties were revalued to fair value at 31 July 2024, based on a valuation undertaken by the directors on 31 July 2024. The method used for determining fair value was valuing against an active market.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,305 10,206

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 18,363 30,831
Other creditors 1,804,206 1,666,560
1,822,569 1,697,391

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 165,401 165,351

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 165,401 165,351

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 165,401 165,351

The bank loans are secured by way of fixed and floating charges over the undertaking and investment property.

10. RELATED PARTY DISCLOSURES

Included within other creditors is an amount of £66,771 (2023: £80,771) owed to Mr G Hagger.