Company Registration No. 11857947 (England and Wales)
Haadi Housing Limited
Unaudited accounts
for the year ended 31 March 2024
Haadi Housing Limited
Statement of financial position
as at 31 March 2024
Tangible assets
79,076
47,535
Investment property
1,270,170
1,186,885
Cash at bank and in hand
304,817
22,800
Creditors: amounts falling due within one year
(1,018,323)
(188,864)
Net current liabilities
(713,506)
(166,064)
Total assets less current liabilities
635,740
1,068,356
Provisions for liabilities
Deferred tax
(11,215)
(156,631)
Net assets
624,525
911,725
Called up share capital
2
2
Profit and loss account
624,523
911,723
Shareholders' funds
624,525
911,725
For the year ending 31 March 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 directors acknowledge their 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 of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by
Mudassar Liaqat
Director
Company Registration No. 11857947
Haadi Housing Limited
Notes to the Accounts
for the year ended 31 March 2024
Haadi Housing Limited is a private company, limited by shares, registered in England and Wales, registration number 11857947. The registered office is 183-187 Stratford Road, Sparkhill, Birmingham, B11 1RB, ENGLAND.
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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Haadi Housing Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Fixtures & fittings
Charge for the year
11,233
Fair value at 1 April 2023
1,186,885
At 31 March 2024
1,270,170
During the year a property was gifted to the company in April 2022 and has been classified as Investment Property. The market value at the date of the gift was £800,000.
The market value of the company's investment properties at the valuation date of April 2022 has been incorporated in to these financial statements as the value as at 31 March 2023. In the opinion of the directors the difference in valuation between the two two dates is considered immaterial.
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
180,144
116,985
Other creditors
62,290
59,160
Loans from directors
769,589
8,339
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).