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Registration number: 14237288

The Haigh Collective (Property) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

The Haigh Collective (Property) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

The Haigh Collective (Property) Ltd

Company Information

Directors

Reverend Samuel Edward Haigh

Mrs Hannah Louise Haigh

Registered office

The Rectory
13 Ribblesdale Place
Preston
PR1 3NA

Accountants

RiverView Portfolio Limited 1 Market Hill
Calne
Wiltshire
SN11 0BT

 

The Haigh Collective (Property) Ltd

(Registration number: 14237288)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

207,327

101,000

Current assets

 

Debtors

5

732

-

Cash at bank and in hand

 

13,049

357

 

13,781

357

Creditors: Amounts falling due within one year

6

(28,556)

(3,083)

Net current liabilities

 

(14,775)

(2,726)

Total assets less current liabilities

 

192,552

98,274

Creditors: Amounts falling due after more than one year

6

(193,579)

(88,837)

Provisions for liabilities

(6,296)

(4,586)

Net (liabilities)/assets

 

(7,323)

4,851

Capital and reserves

 

Called up share capital

7

1,000

1,000

Revaluation reserve

26,842

19,552

Retained earnings

(35,165)

(15,701)

Shareholders' (deficit)/funds

 

(7,323)

4,851

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.

Directors' 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 directors acknowledge 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 11 March 2025 and signed on its behalf by:
 

 

The Haigh Collective (Property) Ltd

(Registration number: 14237288)
Balance Sheet as at 30 June 2024 (continued)

.........................................
Reverend Samuel Edward Haigh
Director

.........................................
Mrs Hannah Louise Haigh
Director

 

The Haigh Collective (Property) Ltd

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 and Wales.

The address of its registered office is:
The Rectory
13 Ribblesdale Place
Preston
PR1 3NA

These financial statements were authorised for issue by the Board on 11 March 2025.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

The Haigh Collective (Property) Ltd

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

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

4

Investment properties

2024
£

At 1 July

101,000

Additions

97,327

Fair value adjustments

9,000

At 30 June

207,327

The fair value of the property at 30 June 2024 has been arrived at on the basis of a valuation carried out
at that date by the director of the company, who is not a professionally qualified valuer. The valuation of
£207,327 was arrived at by reference to the market evidence of transaction prices for similar properties in its
location the property is situated.

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

5

Debtors

Current

2024
£

2023
£

Prepayments

32

-

Other debtors

700

-

 

732

-

 

The Haigh Collective (Property) Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

27,677

2,170

Accruals and deferred income

179

913

Other creditors

700

-

28,556

3,083

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

193,579

88,837

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A Shares of £1 each

400

400

400

400

Ordinary B Shares of £1 each

400

400

400

400

Ordinary C Shares of £1 each

200

200

200

200

1,000

1,000

1,000

1,000

8

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

7,290

7,290

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

 

The Haigh Collective (Property) Ltd

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

8

Reserves (continued)

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

19,552

19,552

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

158,393

48,960

Other borrowings

35,186

39,877

193,579

88,837