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Registered number: 03871319










HAWKSVALLEY PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
HAWKSVALLEY PROPERTIES LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 5


 
HAWKSVALLEY PROPERTIES LIMITED
REGISTERED NUMBER: 03871319

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,789,875
1,789,875

Current assets
  

Debtors
 5 
51,854
75,622

Cash at bank and in hand
  
118,521
134,705

  
170,375
210,327

Creditors: amounts falling due within one year
 6 
(870,496)
(874,294)

Net current liabilities
  
 
 
(700,121)
 
 
(663,967)

Total assets less current liabilities
  
1,089,754
1,125,908

Provisions for liabilities
  

Deferred tax
  
(27,220)
(27,220)

  
 
 
(27,220)
 
 
(27,220)

Net assets
  
1,062,534
1,098,688


Capital and reserves
  

Called up share capital 
  
3
3

Revaluation reserve
  
383,530
383,530

Profit and loss account
  
679,001
715,155

  
1,062,534
1,098,688


Page 1

 
HAWKSVALLEY PROPERTIES LIMITED
REGISTERED NUMBER: 03871319
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider 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 directors acknowledge their 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 20 January 2025.




Mr J Carter
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
HAWKSVALLEY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Hawksvalley Properties Limited (the Company) is a private company, limited by shares, incorporated and domiciled in England. The address of the registered office is Rutland House, 148 Edmund Street, Birmingham, West Midlands, B3 2FD. Its principal place of business is 2 Woodcrest, Marine Drive, Looe, PL13 2DQ.

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 by the company in respect of rent and service charges receivable during the year, exclusive of Value Added Tax.

 
2.3

Investment property

Freehold investment properties are 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. 
Short term investment properties are amortised over the remaining term of the lease. 

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Page 3

 
HAWKSVALLEY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.8

Current and deferred taxation

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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees



The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
HAWKSVALLEY PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
1,789,875



At 30 April 2024
1,789,875

The 2024 valuations were made by the directors, 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:

2024
2023
£
£


Historic cost
1,379,125
1,379,125


5.


Debtors

2024
2023
£
£


Trade debtors
45,500
67,461

Other debtors
1,975
4,068

Prepayments and accrued income
4,379
4,093

51,854
75,622



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
857,000
857,000

Trade creditors
5,034
3,211

Corporation tax
-
3,702

Other taxation and social security
2,312
2,485

Accruals and deferred income
6,150
7,896

870,496
874,294


The bank loans are secured against the assets of the company.

Page 5

 
HAWKSVALLEY PROPERTIES LIMITED
 
 
Page 6