Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-282023-09-282022-09-29falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00617840 2022-09-29 2023-09-28 00617840 2021-09-29 2022-09-28 00617840 2023-09-28 00617840 2022-09-28 00617840 c:Director1 2022-09-29 2023-09-28 00617840 d:FreeholdInvestmentProperty 2023-09-28 00617840 d:FreeholdInvestmentProperty 2022-09-28 00617840 d:CurrentFinancialInstruments 2023-09-28 00617840 d:CurrentFinancialInstruments 2022-09-28 00617840 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-28 00617840 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-28 00617840 d:ShareCapital 2023-09-28 00617840 d:ShareCapital 2022-09-28 00617840 d:CapitalRedemptionReserve 2023-09-28 00617840 d:CapitalRedemptionReserve 2022-09-28 00617840 d:RevaluationReserve 2023-09-28 00617840 d:RevaluationReserve 2022-09-28 00617840 d:RetainedEarningsAccumulatedLosses 2023-09-28 00617840 d:RetainedEarningsAccumulatedLosses 2022-09-28 00617840 c:OrdinaryShareClass1 2022-09-29 2023-09-28 00617840 c:OrdinaryShareClass1 2023-09-28 00617840 c:OrdinaryShareClass1 2022-09-28 00617840 c:FRS102 2022-09-29 2023-09-28 00617840 c:AuditExempt-NoAccountantsReport 2022-09-29 2023-09-28 00617840 c:FullAccounts 2022-09-29 2023-09-28 00617840 c:PrivateLimitedCompanyLtd 2022-09-29 2023-09-28 00617840 d:OtherDeferredTax 2023-09-28 00617840 d:OtherDeferredTax 2022-09-28 00617840 5 2022-09-29 2023-09-28 00617840 e:PoundSterling 2022-09-29 2023-09-28 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 00617840







 
HARFRED PROPERTIES LIMITED



UNAUDITED
FINANCIAL STATEMENTS
    FOR THE YEAR ENDED 28 SEPTEMBER 2023

 
HARFRED PROPERTIES LIMITED
REGISTERED NUMBER:00617840

STATEMENT OF FINANCIAL POSITION
AS AT 28 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
900,000
900,000

  
900,000
900,000

Current assets
  

Debtors
  
92,007
43,433

Cash at bank and in hand
 5 
90,008
139,413

  
182,015
182,846

Creditors: amounts falling due within one year
 6 
(84,162)
(80,490)

Net current assets
  
 
 
97,853
 
 
102,356

Total assets less current liabilities
  
997,853
1,002,356

Provisions for liabilities
  

Deferred tax
 7 
(51,701)
(51,701)

  
 
 
(51,701)
 
 
(51,701)

Net assets
  
946,152
950,655


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Non distributable profit and loss account
  
825,078
825,078

Capital redemption reserve
  
14,584
14,584

Profit and loss account
  
105,490
109,993

  
946,152
950,655


Page 1

 
HARFRED PROPERTIES LIMITED
REGISTERED NUMBER:00617840
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 SEPTEMBER 2023

The director considers 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 director acknowledges his 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 by: 




J Lyons
Director

Date: 10 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HARFRED PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023

1.


General information

Harfred Properties Limited is a private company, limited by shares, incorporated in England and Wales, registration number 00617840.  The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU. 

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 financial statements are prepared in £ sterling, the functional currency, rounded to the nearest £1.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Page 3

 
HARFRED PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers or by the director 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 profit or loss.

 
2.5

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.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 4

 
HARFRED PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)


Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

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.

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

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.

Page 5

 
HARFRED PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 29 September 2022
900,000



At 28 September 2023
900,000

The 2023 valuations were made by the director, on an open market value for existing use basis.



Page 6

 
HARFRED PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023

5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
90,008
139,413



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
11,962
8,290

Other creditors
65,000
65,000

Accruals and deferred income
7,200
7,200

84,162
80,490



7.


Deferred taxation




2023


£






At beginning of year
(51,701)



At end of year
(51,701)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Gain on property
(51,701)
(51,701)


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 7

 
HARFRED PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 SEPTEMBER 2023

9.


Related party transactions

During the year the company paid dividends as follows:


2023
2022
£
£

Mrs B Lyons
23,000
23,000
Mrs S Archer
12,500
12,500
Mrs J Koehler
12,500
12,500
Mr J Lyons
1,000
1,000
Ms J Lyons
1,000
1,000
50,000
50,000

 
Page 8