Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-312025-05-22falsetrue2023-09-011Property InvestmentfalsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 15107165 2023-08-31 15107165 2023-09-01 2024-08-31 15107165 2022-09-01 2023-08-31 15107165 2024-08-31 15107165 c:Director1 2023-09-01 2024-08-31 15107165 d:FreeholdInvestmentProperty 2023-09-01 2024-08-31 15107165 d:FreeholdInvestmentProperty 2024-08-31 15107165 d:FreeholdInvestmentProperty 2 2023-09-01 2024-08-31 15107165 d:CurrentFinancialInstruments 2024-08-31 15107165 d:Non-currentFinancialInstruments 2024-08-31 15107165 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 15107165 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 15107165 d:ShareCapital 2024-08-31 15107165 d:InvestmentPropertiesRevaluationReserve 2024-08-31 15107165 d:RetainedEarningsAccumulatedLosses 2024-08-31 15107165 d:OtherDeferredTax 2024-08-31 15107165 c:FRS102 2023-09-01 2024-08-31 15107165 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 15107165 c:FullAccounts 2023-09-01 2024-08-31 15107165 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 15107165 f:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 15107165









HABIBI (HACKNEY) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2024

 
HABIBI (HACKNEY) LTD
REGISTERED NUMBER: 15107165

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
Note
£

Fixed assets
  

Investment property
  
9,562,260

  
9,562,260

Current assets
  

Debtors: amounts falling due within one year
  
2,821

Cash at bank and in hand
  
70,585

  
73,406

Creditors: amounts falling due within one year
  
(4,172,163)

Net current (liabilities)/assets
  
 
 
(4,098,757)

Total assets less current liabilities
  
5,463,503

Creditors: amounts falling due after more than one year
  
(4,985,000)

Provisions for liabilities
  

Deferred tax
  
(250,000)

  
 
 
(250,000)

Net assets
  
228,503


Capital and reserves
  

Called up share capital 
  
100

Investment property reserve
  
750,000

Profit and loss account
  
(521,597)

  
228,503

Page 1

 
HABIBI (HACKNEY) LTD
REGISTERED NUMBER: 15107165
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers 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 director acknowledges his 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 profit and loss account 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 by: 




N Fullerton
Director

Date: 22 May 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
HABIBI (HACKNEY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Habibi (Hackney) Ltd is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

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

Going concern

The company meets its day to day working capital requirements through a loan supplied by a related under common control. The support of this related party is intended to continue in support of the company. As a result the going concern basis of accounting has been adopted.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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

 
HABIBI (HACKNEY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 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

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

Page 4

 
HABIBI (HACKNEY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.11

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 1.


4.


Investment property


Investment property

£



Valuation


Additions at cost
8,562,260


Surplus on revaluation
1,000,000



At 31 August 2024
9,562,260

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



At 31 August 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
£


Historic cost
8,562,260

8,562,260

There are fixed and floating charges on the investment property .

Page 5

 
HABIBI (HACKNEY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Taxation

The company has £521,597 tax losses to carry forward. No deferred tax asset has been recognised in respect of these losses.


6.


Debtors

2024
£


Prepayments and accrued income
2,821

2,821



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
70,585

70,585



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
127,426

Amounts owed to group undertakings
4,004,258

Accruals and deferred income
40,479

4,172,163



9.


Creditors: Amounts falling due after more than one year

2024
£

Bank loans
4,985,000

4,985,000


The company has two charges over the investment property.

Page 6

 
HABIBI (HACKNEY) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Deferred taxation



2024


£






Charged to profit or loss
(250,000)



At end of year
(250,000)

The deferred taxation balance is made up as follows:

2024
£


Capital gains / (losses)
(250,000)

(250,000)


11.


Related party transactions

Included within other creditors there is a loan due to the parent company of £4,004,258. No interest is charged on this amount and it is repayable upon demand.

 
Page 7