Company Registration No. 13373202 (England and Wales)
HALLIFORD FLATS LTD
Unaudited accounts
for the year ended 31 May 2024
HALLIFORD FLATS LTD
Unaudited accounts
Contents
HALLIFORD FLATS LTD
Company Information
for the year ended 31 May 2024
Company Number
13373202 (England and Wales)
Registered Office
49 EWART GROVE
LONDON
N22 5NY
UNITED KINGDOM
HALLIFORD FLATS LTD
Statement of financial position
as at 31 May 2024
Called up share capital not paid
1
1
Investment property
1,917,000
2,561,500
Cash at bank and in hand
382,525
27,589
Creditors: amounts falling due within one year
(467,055)
(458,894)
Net current assets/(liabilities)
98,486
(262,289)
Total assets less current liabilities
2,015,487
2,299,212
Creditors: amounts falling due after more than one year
(1,261,473)
(1,688,960)
Provisions for liabilities
Deferred tax
(153,744)
(148,000)
Net assets
600,270
462,252
Called up share capital
1
1
Profit and loss account
600,269
462,251
Shareholders' funds
600,270
462,252
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 February 2025 and were signed on its behalf by
N Patel
Director
Company Registration No. 13373202
HALLIFORD FLATS LTD
Notes to the Accounts
for the year ended 31 May 2024
HALLIFORD FLATS LTD is a private company, limited by shares, registered in England and Wales, registration number 13373202. The registered office is 49 EWART GROVE, LONDON, N22 5NY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property is included at fair value. Any gains or losses arising from change in fair value are recognized in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
No depreciation is provided for investment property.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 June 2023
2,561,500
Net gain from fair value adjustments
338,500
The historical cost of the property held at 31/05/24 is £1,301,679.
No depreciation is provided for on investment properties as stated in the accounting policies.
HALLIFORD FLATS LTD
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
Other debtors
183,016
169,016
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
3,950
3,950
Taxes and social security
40,262
-
Other creditors
56,874
69,080
Loans from directors
362,554
362,554
Deferred income
1,975
21,510
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
1,261,473
1,688,960
Bank loans are secured on the company's investment properties.
8
Transactions with related parties
Other debtors includes £169,016 (2022: £92,205) due from a company which the director of this company is also a director.
Other Creditors includes £51,660 (2022: £51,560) owed to a company which the director of this company is also a director, and £362,554 (2022: £317,407) to the director of the company.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).