0 Hawthorne Jay Properties Limited 12706960 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true 12706960 2023-07-01 2024-06-30 12706960 2024-06-30 12706960 core:CurrentFinancialInstruments 2024-06-30 12706960 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 12706960 core:Non-currentFinancialInstruments 2024-06-30 12706960 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 12706960 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 12706960 bus:SmallEntities 2023-07-01 2024-06-30 12706960 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12706960 bus:FilletedAccounts 2023-07-01 2024-06-30 12706960 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 12706960 bus:RegisteredOffice 2023-07-01 2024-06-30 12706960 bus:Director1 2023-07-01 2024-06-30 12706960 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12706960 core:RevaluationReserve core:LandBuildings 2023-07-01 2024-06-30 12706960 core:LandBuildings 2023-07-01 2024-06-30 12706960 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 12706960 countries:AllCountries 2023-07-01 2024-06-30 12706960 2023-06-30 12706960 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 12706960 2022-07-01 2023-06-30 12706960 2023-06-30 12706960 core:CurrentFinancialInstruments 2023-06-30 12706960 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 12706960 core:Non-currentFinancialInstruments 2023-06-30 12706960 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 12706960 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 xbrli:pure iso4217:GBP

FINANCIAL PERIOD DATA REFRESH REQUIRED
Select the Refresh button on the Summary or Disclosure tab

Registration number: 12706960

Hawthorne Jay Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Hawthorne Jay Properties Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Hawthorne Jay Properties Limited

(Registration number: 12706960)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

425,000

361,181

Current assets

 

Cash at bank and in hand

 

1,173

2,483

Creditors: Amounts falling due within one year

6

(7,252)

(8,078)

Net current liabilities

 

(6,079)

(5,595)

Total assets less current liabilities

 

418,921

355,586

Creditors: Amounts falling due after more than one year

6

(347,710)

(351,502)

Provisions for liabilities

(16,912)

-

Net assets

 

54,299

4,084

Capital and reserves

 

Called up share capital

20

20

Revaluation reserve

46,907

-

Profit and loss account

7,372

4,064

Shareholders' funds

 

54,299

4,084

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 28 February 2025
 


Simon Jay
Director

 

Hawthorne Jay Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
60 Hawthorne Street
Bristol
BS4 3BZ

Principal activity

The principal activity of the company is that of property investment.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hawthorne Jay Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Asset class

Depreciation method and rate

Freehold property

0% - investment property

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Investment property

Investment property is measured initially at costs, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Hawthorne Jay Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

361,181

361,181

Revaluations

63,819

63,819

At 30 June 2024

425,000

425,000

Depreciation

Carrying amount

At 30 June 2024

425,000

425,000

At 30 June 2023

361,181

361,181

Included within the net book value of land and buildings above is £425,000 (2023 - £361,181) in respect of freehold land and buildings.
 

 

Hawthorne Jay Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Investment properties

In the opinion of the director, as at 30 June 2024 the fair value on the investment property is £425,000.

There has been no valuation of investment property by an independent valuer.

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

4,486

5,180

Taxation and social security

 

776

953

Accruals and deferred income

 

390

345

Other creditors

 

1,600

1,600

 

7,252

8,078

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

343,307

347,099

Other non-current financial liabilities

 

4,403

4,403

 

347,710

351,502

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

46,907

46,907

Profit and loss account:

This reserve records retained earnings and accumulated losses, of which £46907 is undistributable and is a result of property revaluation.

 

Hawthorne Jay Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

133,361

137,153

Other borrowings

209,946

209,946

343,307

347,099

Current loans and borrowings

2024
£

2023
£

Bank borrowings

4,486

5,180