IRIS Accounts Production v24.3.2.46 12590755 Board of Directors 1.6.23 31.5.24 31.5.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125907552023-05-31125907552024-05-31125907552023-06-012024-05-31125907552022-05-31125907552022-06-012023-05-31125907552023-05-3112590755ns15:EnglandWales2023-06-012024-05-3112590755ns14:PoundSterling2023-06-012024-05-3112590755ns10:Director12023-06-012024-05-3112590755ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3112590755ns10:SmallEntities2023-06-012024-05-3112590755ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3112590755ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3112590755ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3112590755ns10:FullAccounts2023-06-012024-05-3112590755ns10:Director22023-06-012024-05-3112590755ns10:RegisteredOffice2023-06-012024-05-3112590755ns5:CurrentFinancialInstruments2024-05-3112590755ns5:CurrentFinancialInstruments2023-05-3112590755ns5:Non-currentFinancialInstruments2024-05-3112590755ns5:Non-currentFinancialInstruments2023-05-3112590755ns5:ShareCapital2024-05-3112590755ns5:ShareCapital2023-05-3112590755ns5:RevaluationReserve2024-05-3112590755ns5:RevaluationReserve2023-05-3112590755ns5:RetainedEarningsAccumulatedLosses2024-05-3112590755ns5:RetainedEarningsAccumulatedLosses2023-05-3112590755ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3112590755ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3112590755ns5:RetainedEarningsAccumulatedLosses2023-05-3112590755ns5:RevaluationReserve2023-05-3112590755ns5:RetainedEarningsAccumulatedLosses2023-06-012024-05-31
REGISTERED NUMBER: 12590755 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

HADLEY JAMES PROPERTY LTD

HADLEY JAMES PROPERTY LTD (REGISTERED NUMBER: 12590755)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HADLEY JAMES PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mrs K L Docwra
J M Docwra





REGISTERED OFFICE: Unit 6 Modular Business Park
Norton Road
Stevenage
SG1 2FZ





REGISTERED NUMBER: 12590755 (England and Wales)





ACCOUNTANTS: Solazzo & Co Ltd
Chartered Accountants
Woodlands,
27 Ferney Road
Cheshunt
Hertfordshire
EN7 6XQ

HADLEY JAMES PROPERTY LTD (REGISTERED NUMBER: 12590755)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,250,000 1,088,506

CURRENT ASSETS
Debtors 5 14,586 1,354
Cash at bank 969 6,224
15,555 7,578
CREDITORS
Amounts falling due within one year 6 355,300 355,158
NET CURRENT LIABILITIES (339,745 ) (347,580 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

910,255

740,926

CREDITORS
Amounts falling due after more than one
year

7

(748,334

)

(751,225

)

PROVISIONS FOR LIABILITIES (40,374 ) -
NET ASSETS/(LIABILITIES) 121,547 (10,299 )

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 9 121,120 -
Retained earnings 9 425 (10,301 )
121,547 (10,299 )

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

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

HADLEY JAMES PROPERTY LTD (REGISTERED NUMBER: 12590755)

BALANCE SHEET - continued
31 MAY 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 14 February 2025 and were signed on its behalf by:





Mrs K L Docwra - Director


HADLEY JAMES PROPERTY LTD (REGISTERED NUMBER: 12590755)

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

1. STATUTORY INFORMATION

Hadley James Property Ltd 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of these financial statements requires the Directors to exercise judgement and make estimates and assumptions on the book values of assets and liabilities that may not be available from other traditional sources. These estimates and assumptions are based on past experience and factors that are considered to be of relevance and are assessed annually on an ongoing basis. Any adjustments to values are recognised in the period of assessment.

TURNOVER
Turnover represents rental income and service charges receivable in the year.

FINANCIAL INSTRUMENTS AND CASH AND CASH EQUIVALENTS
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and recorded at the initial transaction cost. A provision for non-recovery of debtors is made where management consider that a risk exists that the company will not be able to recover fully amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

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.


HADLEY JAMES PROPERTY LTD (REGISTERED NUMBER: 12590755)

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

2. ACCOUNTING POLICIES - continued
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.

INVESTMENT PROPERTY
Investment properties are held for long term investment and are included in the balance sheet at fair value. Any aggregate surplus or deficit arising from changes in market value is transferred to a fair value reserve. Depreciation is not provided on investment properties.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,088,506
Revaluations 161,494
At 31 May 2024 1,250,000
NET BOOK VALUE
At 31 May 2024 1,250,000
At 31 May 2023 1,088,506

The directors are of the opinion that the fair value of the properties is not materially different to their book values.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 14,586 1,354

HADLEY JAMES PROPERTY LTD (REGISTERED NUMBER: 12590755)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 32 28
Taxation and social security 1,085 947
Other creditors 350,183 350,183
355,300 355,158

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 748,334 751,225

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 454,000 453,977

Repayable by instalments
Bank loans 278,334 281,248

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 752,334 755,225

The company has legal, fixed and floating charges over the assets of the company in favour of Allica Bank Ltd and Charter Court Financial Services Ltd.

HADLEY JAMES PROPERTY LTD (REGISTERED NUMBER: 12590755)

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

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2023 (10,301 ) - (10,301 )
Profit for the year 131,846 131,846
Movement in year (161,494 ) 161,494 -
Deferred tax 40,374 (40,374 ) -
At 31 May 2024 425 121,120 121,545

Deferred tax on property valuations are accounted for in the revaluation reserve.

10. RELATED PARTY DISCLOSURES

During the year, the company received rent and service charges amounting to £43,000 (2023-£30,000) from Hadley James Ltd, a company controlled by the Directors. The amount due to Hadley James Ltd at the year end was £335,583 (2023-£227,480). The loan is repayable on demand.






11. ULTIMATE CONTROLLING PARTY

The Directors are deemed to be the controlling party by virtue of their holdings in the company.