IRIS Accounts Production v25.1.3.33 02722069 Board of Directors 1.8.23 31.7.24 31.7.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh027220692023-07-31027220692024-07-31027220692023-08-012024-07-31027220692022-07-31027220692022-08-012023-07-31027220692023-07-3102722069ns15:EnglandWales2023-08-012024-07-3102722069ns14:PoundSterling2023-08-012024-07-3102722069ns10:Director12023-08-012024-07-3102722069ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3102722069ns10:SmallEntities2023-08-012024-07-3102722069ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3102722069ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3102722069ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3102722069ns10:FullAccounts2023-08-012024-07-3102722069ns10:Director22023-08-012024-07-3102722069ns10:Director32023-08-012024-07-3102722069ns10:Director42023-08-012024-07-3102722069ns10:CompanySecretary12023-08-012024-07-3102722069ns10:RegisteredOffice2023-08-012024-07-3102722069ns5:CurrentFinancialInstruments2024-07-3102722069ns5:CurrentFinancialInstruments2023-07-3102722069ns5:ShareCapital2024-07-3102722069ns5:ShareCapital2023-07-3102722069ns5:RetainedEarningsAccumulatedLosses2024-07-3102722069ns5:RetainedEarningsAccumulatedLosses2023-07-3102722069ns5:CurrentFinancialInstruments2023-08-012024-07-31
REGISTERED NUMBER: 02722069 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

HIRAGAIN LIMITED

HIRAGAIN LIMITED (REGISTERED NUMBER: 02722069)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HIRAGAIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: G C Burrows
Ms V A D'Cruz
A J M Burrows
A R D'Cruz





SECRETARY: A J M Burrows





REGISTERED OFFICE: 20 Harcourt Street
London
London
W1H 4HG





REGISTERED NUMBER: 02722069 (England and Wales)





ACCOUNTANTS: William Evans & Partners
20 Harcourt Street
London
W1H 4HG

HIRAGAIN LIMITED (REGISTERED NUMBER: 02722069)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 1,230,000 1,230,000

CREDITORS
Amounts falling due within one year 5 (1,136,197 ) (1,205,671 )
NET CURRENT LIABILITIES (1,136,197 ) (1,205,671 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,803

24,329

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 93,703 24,229
93,803 24,329

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors and authorised for issue on 8 May 2025 and were signed on its behalf by:





Ms V A D'Cruz - Director


HIRAGAIN LIMITED (REGISTERED NUMBER: 02722069)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Hiragain Limited 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.

The financial statements have been prepared on a going concern basis as the directors anticipate future profitability and the bank, together with the parent company, will continue to provide financial support to allow the company to meet its liabilities as they fall due.

Significant judgements and estimates
The directors have made key assumptions in the determination of the fair value of the investment property.

Turnover
Turnover represents rents receivable from the letting of leasehold investment property, excluding value added tax where applicable. Rentals receivable under operating leases are charged to income on a straight line basis over the lease term.

Investment property
Investment properties are properties held to earn rentals and/or capital appreciation. Investment properties are initially measured at cost, including transaction costs and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. Any gains are subsequently transferred to a non-distributable reserve.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost. The group has no financial assets nor liabilities which are measured at fair value through profit or loss.

Trade and other debtors are recognised and carried forward at invoiced amounts less provision for any doubtful debts. Bad debts are written off when identified.

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.


HIRAGAIN LIMITED (REGISTERED NUMBER: 02722069)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued
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 NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 1,230,000
NET BOOK VALUE
At 31 July 2024 1,230,000
At 31 July 2023 1,230,000

The directors believe that the valuation reflected within the Accounts is representative of the fair value of the property as at the balance sheet date and equivalent to the open market value.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,135,197 1,202,731
Other creditors 1,000 2,940
1,136,197 1,205,671

The amount owed to group undertakings is interest free and repayable on demand.

6. SECURED DEBTS

Santander UK PLC hold a fixed charge over the investment property as a cross guarantee in favour of the parent company, Counterpoint Properties Limited, with rental income also being assigned to the bank.