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REGISTERED NUMBER: 10760626 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

HARNIC PROPERTIES LIMITED

HARNIC PROPERTIES LIMITED (REGISTERED NUMBER: 10760626)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HARNIC PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: G G Hardcastle
Mrs H L Hardcastle





REGISTERED OFFICE: Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD





BUSINESS ADDRESS: The Wootons
Atlantic Road
Tintagel
Cornwall
PL34 0DD





REGISTERED NUMBER: 10760626 (England and Wales)





ACCOUNTANTS: A.R. Lee & Co.
Chartered Certified Accountants
Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD

HARNIC PROPERTIES LIMITED (REGISTERED NUMBER: 10760626)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,957 13,286
Investment property 5 1,000,000 1,000,000
1,011,957 1,013,286

CREDITORS
Amounts falling due within one year 6 394,597 391,294
NET CURRENT LIABILITIES (394,597 ) (391,294 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

617,360

621,992

CREDITORS
Amounts falling due after more than one
year

7

(325,047

)

(339,323

)

PROVISIONS FOR LIABILITIES (50,729 ) (50,729 )
NET ASSETS 241,584 231,940

RESERVES
Fair value reserve 9 168,582 168,582
Retained earnings 73,002 63,358
241,584 231,940

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

HARNIC PROPERTIES LIMITED (REGISTERED NUMBER: 10760626)

BALANCE SHEET - continued
30 APRIL 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 24 January 2025 and were signed on its behalf by:





G G Hardcastle - Director


HARNIC PROPERTIES LIMITED (REGISTERED NUMBER: 10760626)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Harnic Properties 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% 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 NIL (2023 - NIL).

HARNIC PROPERTIES LIMITED (REGISTERED NUMBER: 10760626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023
and 30 April 2024 25,000
DEPRECIATION
At 1 May 2023 11,714
Charge for year 1,329
At 30 April 2024 13,043
NET BOOK VALUE
At 30 April 2024 11,957
At 30 April 2023 13,286

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,000,000
NET BOOK VALUE
At 30 April 2024 1,000,000
At 30 April 2023 1,000,000

The company's investment property was revalued to open market value at the period end by the company's directors using their best judgement.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 45,652 45,652
Taxation and social security 6,099 3,365
Other creditors 342,846 342,277
394,597 391,294

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 325,047 339,323

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 142,438 156,714

HARNIC PROPERTIES LIMITED (REGISTERED NUMBER: 10760626)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 370,699 384,975

The loan is secured by a fixed charge over the freehold property known as The Wootons, Atlantic Road, Tintagel, Cornwall and by a fixed and floating charge over the company's other assets.

9. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 168,582