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REGISTERED NUMBER: 00724904 (England and Wales)




REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HAVEN HOUSING LIMITED

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Statement of Changes in Equity 6

Notes to the Financial Statements 7


HAVEN HOUSING LIMITED

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: Ms L R Bunger
P R Chapman
B Nicholson
R S Parker
H M Parker





SECRETARY: B Nicholson





REGISTERED OFFICE: 1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB





REGISTERED NUMBER: 00724904 (England and Wales)





ACCOUNTANTS: LDP Luckmans
1110 Elliott Court
Coventry Business Park
Herald Avenue
Coventry
West Midlands
CV5 6UB

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

REPORT OF THE DIRECTORS
for the year ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the letting of houses and the management of properties and other investments.

DIVIDENDS
The directors recommend that final dividends of 1.7p per share in respect of Ordinary "A" shares and 34p per share in respect of Ordinary "B" shares be paid on the results for the year. This will result in a total dividend payment of £255,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Ms L R Bunger
P R Chapman
B Nicholson
R S Parker
H M Parker

ON BEHALF OF THE BOARD:





P R Chapman - Director


14 March 2025

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

INCOME STATEMENT
for the year ended 31 December 2024

2024 2023
Notes £    £    £    £   

TURNOVER 658,601 571,966

Administrative expenses 382,567 370,713
OPERATING PROFIT 276,034 201,253

Income from fixed asset investments 96,987 101,721
Interest receivable and similar income 46,237 37,428
143,224 139,149
419,258 340,402
Gain/loss on revaluation of assets 583,741 565,086
PROFIT BEFORE TAXATION 4 1,002,999 905,488

Tax on profit 5 214,815 199,087
PROFIT FOR THE FINANCIAL YEAR 788,184 706,401

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 6 3,432,560 3,388,230
Investment property 7 12,995,000 12,270,000
16,427,560 15,658,230

CURRENT ASSETS
Debtors 8 43,694 49,235
Cash at bank 819,857 865,756
863,551 914,991
CREDITORS
Amounts falling due within one year 9 99,620 76,547
NET CURRENT ASSETS 763,931 838,444
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,191,491

16,496,674

PROVISIONS FOR LIABILITIES 1,455,615 1,312,731
NET ASSETS 15,735,876 15,183,943

CAPITAL AND RESERVES
Called up share capital 10 750,000 750,000
Unrealised reserves 10,121,839 9,639,515
Retained earnings 4,864,037 4,794,428
SHAREHOLDERS' FUNDS 15,735,876 15,183,943

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

BALANCE SHEET - continued
31 December 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





P R Chapman - Director


HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

STATEMENT OF CHANGES IN EQUITY
for the year ended 31 December 2024

Called up
share Retained Unrealised Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 January 2023 750,000 4,468,191 9,484,351 14,702,542

Changes in equity
Dividends - (225,000 ) - (225,000 )
Total comprehensive income - 706,401 - 706,401
Revaluation in year - (418,641 ) 418,641 -
Realised gains in year - 263,477 (263,477 ) -
Balance at 31 December 2023 750,000 4,794,428 9,639,515 15,183,943

Changes in equity
Dividends - (236,250 ) - (236,250 )
Total comprehensive income - 788,184 - 788,184
Revaluation in year - (440,858 ) 440,857 (1 )
Realised gains in year - (41,467 ) 41,467 -
Balance at 31 December 2024 750,000 4,864,037 10,121,839 15,735,876

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Haven Housing 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

Accounting convention
The financial statements are prepared under the historic cost convention modified to include the revaluation of freehold land and buildings held as investment properties, and also the revaluation of fixed asset investments as described below.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these accounts are stated to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies are set out below.

Turnover
Turnover represents rents receivable from investment properties and is recognised when it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at it's fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

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.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of it's financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and subsequently all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivative are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

2024 2023
£    £   
Directors' remuneration 162,375 154,000

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

4. PROFIT BEFORE TAXATION

The profit is stated after charging:

2024 2023
£    £   
Property expenses 215,599 193,595
Management expenses 201,588 192,074

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 71,913 52,622
Overseas taxation 18 20
Total current tax 71,931 52,642

Deferred tax 142,884 146,445
Tax on profit 214,815 199,087

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 December 2024.

2023
Gross Tax Net
£    £    £   
Revaluation of tangible fixed assets

6. FIXED ASSET INVESTMENTS

Summary of movements British
Listed Government Unlisted Total
£    £    £    £   
Valuation at 1 January 2024 3,139,466 198,390 50,374 3,388,230
Additions 278,331 - 600 278,931
Disposals (221,321 ) (40,504 ) (261,825 )
Impairments - - -
Valuation changes 30,323 (3,099 ) 27,224
Valuation at 31 December 2024 3,226,799 154,787 50,974 3,432,560

If fixed asset investments had not been revalued they would have been included at the following historical cost:-

Listed investments £3,335,798
British Government £153,057
Unlisted investments £50,974


Listed investments were valued on a mid-market valuation basis on 31st December 2024 by EFG Harris Allday.

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 12,270,000
Additions 168,483
Revaluations 556,517
At 31 December 2024 12,995,000
NET BOOK VALUE
At 31 December 2024 12,995,000
At 31 December 2023 12,270,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2015 6,605,759
Valuation in 2016 273,000
Valuation in 2017 262,622
Valuation in 2018 57,100
Valuation in 2019 742,000
Valuation in 2020 739,000
Valuation in 2021 854,419
Valuation in 2022 1,096,000
Valuation in 2023 456,838
Valuation in 2024 556,517
Cost 1,351,745
12,995,000

Investment properties were valued for the board at 31 December 2024 on a "market value" basis as defined in accordance with the Royal Institute of Chartered Surveyors Valuation Standards, by Messrs Fraser Wood, Chartered Surveyors, as external valuers.

If the investment properties had not been revalued they would have been included at the following historical cost:-

£1,351,745

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accrued income 43,694 49,235

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,280 756
Tax 71,238 51,987
Accrued expenses 25,102 23,804
99,620 76,547

HAVEN HOUSING LIMITED (REGISTERED NUMBER: 00724904)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
750,000 Ordinary A 5p 37,500 37,500
712,500 Ordinary B £1 712,500 712,500
750,000 750,000

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the trustees of the Miriam Julia Collins Will Trust.