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REGISTERED NUMBER: 12702892 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 June 2024

for

Hargate Point Ltd

Hargate Point Ltd (Registered number: 12702892)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hargate Point Ltd

Company Information
For The Year Ended 30 June 2024







DIRECTOR: Mr P J Macgill





REGISTERED OFFICE: 2nd Floor,
3 Hardman Square
Spinningfied
Manchester
M3 3EB





REGISTERED NUMBER: 12702892 (England and Wales)





ACCOUNTANTS: Fact3
3 Hardman Square
Spinningfields
Manchester
M3 3EB

Hargate Point Ltd (Registered number: 12702892)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 470,000 120,262

CURRENT ASSETS
Debtors 5 - 110
Cash at bank 604 5,023
604 5,133
CREDITORS
Amounts falling due within one year 6 869 35,778
NET CURRENT LIABILITIES (265 ) (30,645 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

469,735

89,617

CREDITORS
Amounts falling due after more than one
year

7

(348,932

)

(86,230

)

PROVISIONS FOR LIABILITIES (22,373 ) -

ACCRUALS AND DEFERRED INCOME - (960 )
NET ASSETS 98,430 2,427

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 98,429 2,426
98,430 2,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Hargate Point Ltd (Registered number: 12702892)

Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 March 2025 and were signed by:





Mr P J Macgill - Director


Hargate Point Ltd (Registered number: 12702892)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

Hargate Point Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
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
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. The accumulated changes in fair value are recognised within the revaluation reserve net of deferred tax liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Hargate Point Ltd (Registered number: 12702892)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. INVESTMENT PROPERTY

The company holds investment property which is measured at fair value in accordance with FRS102,"The Financial Reporting Standard applicable in the UK and Republic of Ireland."

The investment property was revalued as of 14 March 2025 based on an independent valuation. The valuation resulted in a revaluation gain of £117,754 which has been recognised in the profit and loss account in accordance with FRS 102.

The fair value of investment property as at 30 June 2024 amounted to £470,000, representing 100% of the total assets of the company.

The directors are satisfied that the fair value of the investment property has been appropriately determined in accordance with FRS102, and that the valuation provides a reliable representation of the property' worth as at the balance sheet date.

This note provides transparency to stakeholders about how the fair value of investment property has been determined and assures them of the reliability of the valuation process.

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2025 117,754
Cost 352,246
470,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 110

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 150 628
Other creditors 719 35,150
869 35,778

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 272,470 86,230
Other creditors 76,462 -
348,932 86,230

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 272,470 86,230