REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
Hawkstar Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
Hawkstar Limited |
Hawkstar Limited (Registered number: 07356046) |
Contents of the Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Hawkstar Limited (Registered number: 07356046) |
Balance Sheet |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable Reserve | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hawkstar Limited (Registered number: 07356046) |
Notes to the Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
Hawkstar Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investment property |
Investment properties are stated at open market value and are revalued periodically. Surpluses on individual properties are transferred to the revaluation reserve. |
In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), no depreciation is provided on investment properties. This accounting policy is a departure from the statutory accounting rules of Companies Act 2006 to provide depreciation on any fixed asset which has a useful economic life. In the opinion of the directors , this departure is necessary to provide a true and fair view. The financial effect of the departure from the statutory accounting rules cannot reasonably be quantified, as depreciation is only one of many factors taken into consideration in the valuation of investment properties and it is not practicable to identify it separately. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 |
Hawkstar Limited (Registered number: 07356046) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2023 |
Revaluations | 25,000 |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
Fair value at 31 August 2024 is represented by: |
£ |
Valuation in 2011 | 4,359 |
Valuation in 2012 | 14,000 |
Valuation in 2014 | 20,020 |
Valuation in 2015 | 20,980 |
Valuation in 2016 | 90,000 |
Valuation in 2019 | 30,374 |
Valuation in 2022 | 10,000 |
Valuation in 2023 | 10,000 |
Valuation in 2024 | 25,000 |
Cost | 370,267 |
595,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 370,267 | 370,267 |
Investment property was valued on fair basis on 31 August 2024 by the directors of the company . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Hawkstar Limited (Registered number: 07356046) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 377,559 | 377,559 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Other loans |
The loan and mortgage is secured on the company's investment properties. |
9. | RESERVES |
Non-distributable |
Reserve |
£ |
At 1 September 2023 |
Property revaluation | 17,004 |
At 31 August 2024 |