| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
| FOR |
| HIRAGAIN LIMITED |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 20 Harcourt Street |
| London |
| W1H 4HG |
| HIRAGAIN LIMITED (REGISTERED NUMBER: 02722069) |
| BALANCE SHEET |
| 31 JULY 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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 |
| HIRAGAIN LIMITED (REGISTERED NUMBER: 02722069) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JULY 2024 |
| 1. | STATUTORY INFORMATION |
| Hiragain Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| NET BOOK VALUE |
| At 31 July 2024 |
| At 31 July 2023 |
| 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 |
| Other creditors |
| 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. |