Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-3022023-07-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10140863 2023-07-01 2024-06-30 10140863 2022-07-01 2023-06-30 10140863 2024-06-30 10140863 2023-06-30 10140863 c:Director1 2023-07-01 2024-06-30 10140863 d:FurnitureFittings 2023-07-01 2024-06-30 10140863 d:FurnitureFittings 2024-06-30 10140863 d:FurnitureFittings 2023-06-30 10140863 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 10140863 d:FreeholdInvestmentProperty 2024-06-30 10140863 d:FreeholdInvestmentProperty 2023-06-30 10140863 d:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 10140863 d:CurrentFinancialInstruments 2024-06-30 10140863 d:CurrentFinancialInstruments 2023-06-30 10140863 d:Non-currentFinancialInstruments 2024-06-30 10140863 d:Non-currentFinancialInstruments 2023-06-30 10140863 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 10140863 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 10140863 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 10140863 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 10140863 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 10140863 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 10140863 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 10140863 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 10140863 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-06-30 10140863 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-06-30 10140863 d:ShareCapital 2024-06-30 10140863 d:ShareCapital 2023-06-30 10140863 d:RevaluationReserve 2024-06-30 10140863 d:RevaluationReserve 2023-06-30 10140863 d:RetainedEarningsAccumulatedLosses 2024-06-30 10140863 d:RetainedEarningsAccumulatedLosses 2023-06-30 10140863 c:FRS102 2023-07-01 2024-06-30 10140863 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10140863 c:FullAccounts 2023-07-01 2024-06-30 10140863 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10140863 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-06-30 10140863 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-30 10140863 2 2023-07-01 2024-06-30 10140863 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 10140863









HARMON PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
HARMON PROPERTIES LIMITED
REGISTERED NUMBER: 10140863

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,221
16,319

Investment property
 5 
6,405,000
5,902,000

  
6,413,221
5,918,319

Current assets
  

Debtors: amounts falling due within one year
 6 
429,757
49,343

Cash at bank and in hand
 7 
219,386
470,692

  
649,143
520,035

Creditors: amounts falling due within one year
 8 
(2,015,415)
(2,045,985)

Net current liabilities
  
 
 
(1,366,272)
 
 
(1,525,950)

Total assets less current liabilities
  
5,046,949
4,392,369

Creditors: amounts falling due after more than one year
 9 
(3,499,555)
(3,216,595)

Provisions for liabilities
  

Deferred tax
  
(425,735)
(299,985)

  
 
 
(425,735)
 
 
(299,985)

Net assets
  
1,121,659
875,789


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
1,275,508
898,258

Profit and loss account
  
(153,949)
(22,569)

  
1,121,659
875,789


Page 1

 
HARMON PROPERTIES LIMITED
REGISTERED NUMBER: 10140863
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider 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 directors acknowledge their 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 on 26 March 2025.




M Harmon
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HARMON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Harmon Properties Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 10140863. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, United Kingdom, IG10 4PL. The principal activity is that of iinvesting and letting of real estate.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Turnover represents rent receivable.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HARMON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

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 balance sheet 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 balance sheet 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 balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
HARMON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Investment property

Investment property is carried at fair value determined annually by the directors 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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

  
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
HARMON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 July 2023
101,591


Additions
3,494



At 30 June 2024

105,085



Depreciation


At 1 July 2023
85,272


Charge for the year on owned assets
11,592



At 30 June 2024

96,864



Net book value



At 30 June 2024
8,221



At 30 June 2023
16,318


5.


Investment property


Investment property

£



Valuation


At 1 July 2023
5,902,000


Surplus on revaluation
503,000



At 30 June 2024
6,405,000



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






Page 6

 
HARMON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
23,356
18,530

Other debtors
406,401
30,813

429,757
49,343



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
219,386
470,692

219,386
470,692



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,298
10,046

Other taxation and social security
958
3,692

Other creditors
1,997,339
2,024,189

Accruals and deferred income
6,820
8,058

2,015,415
2,045,985


Page 7

 
HARMON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,499,555
3,216,595

3,499,555
3,216,595


The following liabilities were secured:

2024
2023
£
£



Bank loans
3,499,555
3,216,595

3,499,555
3,216,595

Details of security provided:

The bank loans are secured by a fixed charge over all property assets of the company.

Page 8

 
HARMON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,298
10,046


10,298
10,046

Amounts falling due 1-2 years

Bank loans
9,593
10,298


9,593
10,298

Amounts falling due 2-5 years

Bank loans
-
9,560


-
9,560

Amounts falling due after more than 5 years

Bank loans
3,489,962
3,196,738

3,489,962
3,196,738

3,509,853
3,226,642


The bank loans are secured by a fixed charge over all property assets of the company.


11.


Related party transactions

At the year end the following amounts were due from / (to)  the related parties.


2024
2023
£
£

Harmon Bond Developments Limited
371,000
11,000
Harmon Properties Two Limited
(2,023,557)
(2,024,189)
(1,652,557)
(2,013,189)

Page 9

 
HARMON PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Controlling party

The company is controlled by its directors by virtue of their shareholding.

 
Page 10