Registered number
08520337
Hasans Investment Management Limited
Filleted Accounts
31 May 2024
Hasans Investment Management Limited
Registered number: 08520337
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 300,591 297,488
Current assets
Debtors 4 352 984
Cash at bank and in hand 46,895 31,792
47,247 32,776
Creditors: amounts falling due within one year 5 (188,682) (185,470)
Net current liabilities (141,435) (152,694)
Total assets less current liabilities 159,156 144,794
Provisions for liabilities (Notes 6) (13,665) (13,038)
Net assets 145,490 131,756
Capital and reserves
Called up share capital 100 100
Fair value reserve 6 40,996 38,323
Profit and loss account 104,394 93,333
Shareholders' funds 145,490 131,756
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Joseph Hasan
Director
Approved by the board on 22 January 2025
Hasans Investment Management Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 296,700 3,709 300,409
Fair value revaluation 3,300 - 3,300
At 31 May 2024 300,000 3,709 303,709
Depreciation
At 1 June 2023 - 2,876 2,876
Charge for the year - 242 242
At 31 May 2024 - 3,118 3,118
Net book value
At 31 May 2024 300,000 591 300,591
At 31 May 2023 296,700 833 297,533
4 Debtors 2024 2023
£ £
Other debtors 352 984
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,470 3,026
Directors loan account 176,142 176,134
Other creditors 8,070 6,310
188,682 185,470
6 Fair value reserve 2024 2023
The provision for liability of £13,665 relates to deferred corporation tax in relation to the fair value revaluation of investment property.
£ £
At 1 June 2023 38,323 40,996
Gain/(loss) on revaluation of land and buildings 3,300 (3,300)
Deferred taxation arising on the revaluation of land and buildings (627) 627
At 31 May 2024 40,996 38,323
7 Other information
Hasans Investment Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bank Chambers
1-3 Woodford Avenue
Gants Hill, Ilford
Essex
IG2 6UF
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