Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falsefalseOther letting and operating of own or leased real estate33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14136817 2023-06-01 2024-05-31 14136817 2022-05-27 2023-05-31 14136817 2024-05-31 14136817 2023-05-31 14136817 c:Director1 2023-06-01 2024-05-31 14136817 d:FurnitureFittings 2023-06-01 2024-05-31 14136817 d:FurnitureFittings 2024-05-31 14136817 d:FurnitureFittings 2023-05-31 14136817 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 14136817 d:FreeholdInvestmentProperty 2023-06-01 2024-05-31 14136817 d:FreeholdInvestmentProperty 2024-05-31 14136817 d:FreeholdInvestmentProperty 2023-05-31 14136817 d:FreeholdInvestmentProperty 2 2023-06-01 2024-05-31 14136817 d:CurrentFinancialInstruments 2024-05-31 14136817 d:CurrentFinancialInstruments 2023-05-31 14136817 d:Non-currentFinancialInstruments 2024-05-31 14136817 d:Non-currentFinancialInstruments 2023-05-31 14136817 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 14136817 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14136817 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 14136817 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 14136817 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-05-31 14136817 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-05-31 14136817 d:ShareCapital 2024-05-31 14136817 d:ShareCapital 2023-05-31 14136817 d:RevaluationReserve 2023-06-01 2024-05-31 14136817 d:RevaluationReserve 2024-05-31 14136817 d:RevaluationReserve 2023-05-31 14136817 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 14136817 d:RetainedEarningsAccumulatedLosses 2024-05-31 14136817 d:RetainedEarningsAccumulatedLosses 2023-05-31 14136817 c:FRS102 2023-06-01 2024-05-31 14136817 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 14136817 c:FullAccounts 2023-06-01 2024-05-31 14136817 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 14136817 5 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 14136817









HARMON BOND DEVELOPMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
HARMON BOND DEVELOPMENTS LTD
REGISTERED NUMBER: 14136817

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,537
2,049

Investment property
 5 
1,893,222
891,070

  
1,894,759
893,119

Current assets
  

Debtors: amounts falling due within one year
 6 
2,351
2,464

Cash at bank and in hand
 7 
3,450
2,298

  
5,801
4,762

Creditors: amounts falling due within one year
 8 
(961,805)
(674,751)

Net current liabilities
  
 
 
(956,004)
 
 
(669,989)

Total assets less current liabilities
  
938,755
223,130

Creditors: amounts falling due after more than one year
 9 
(1,060,398)
(311,403)

Provisions for liabilities
  

Deferred tax
  
(39,952)
-

  
 
 
(39,952)
 
 
-

Net liabilities
  
(161,595)
(88,273)


Capital and reserves
  

Called up share capital 
  
50
50

Revaluation reserve
  
119,854
-

Profit and loss account
  
(281,499)
(88,323)

  
(161,595)
(88,273)

Page 1

 
HARMON BOND DEVELOPMENTS LTD
REGISTERED NUMBER: 14136817
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 10 March 2025.




A N Bond
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HARMON BOND DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Harmon Bond Developments Ltd is a private company, limited by shares and incorporated in England and
Wales, United Kingdom, with a registration number 14136817. The address of the registered office is
224 Prospect Road, Woodford Green, England, IG8 7NQ. The principal activity is that of investing 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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Revenue

Turnover represents rent receivable.

 
2.3

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.

 
2.4

Borrowing costs

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

 
2.5

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.

 
2.6

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.

Page 3

 
HARMON BOND DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Reducing Balance Method

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.

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
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.

Page 4

 
HARMON BOND DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
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

Financial instruments

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

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
HARMON BOND DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 June 2023
2,093



At 31 May 2024

2,093



Depreciation


At 1 June 2023
44


Charge for the year on owned assets
512



At 31 May 2024

556



Net book value



At 31 May 2024
1,537



At 31 May 2023
2,049

Page 6

 
HARMON BOND DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
891,070


Additions at cost
842,346


Surplus on revaluation
159,806



At 31 May 2024
1,893,222

The 2024 valuations were made by directors, on an open market value for existing use basis.





6.


Debtors

2024
2023
£
£


Trade debtors
2,351
2,464

2,351
2,464



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,450
2,298

3,450
2,298


Page 7

 
HARMON BOND DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to related parties
331,000
11,000

Other creditors
626,501
659,611

Accruals and deferred income
4,304
4,140

961,805
674,751



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,060,398
311,403

1,060,398
311,403


The loans are secured by a fixed and floating charge on all properties held by the company.


10.


Loans


2024
2023
£
£

Amounts falling due after more than 5 years

Bank loans
1,060,398
311,404

1,060,398
311,404



11.


Reserves

Revaluation reserve

The revaluation reserve represents cumulative effects of fair value adjustments net of deferred tax and other adjustments.

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

Page 8

 
HARMON BOND DEVELOPMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

12.


Related party transactions

At the year end, the following amounts were due to the related parties:


2024
2023
£
£

Key management personnel
620,188
659,610
620,188
659,610

 
Page 9