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Company registration number: 10831592







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
22 DECEMBER 2024


HARGREAVES (TRADING PROPERTY) LIMITED






































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HARGREAVES (TRADING PROPERTY) LIMITED
 


 
COMPANY INFORMATION


Directors
V M Hargreaves 
M J Hargreaves 
P H Madden (resigned 14 July 2024)
R L Hargreaves 




Registered number
10831592



Registered office
53 Links Lane
Rowlands Castle

Hampshire

PO9 6AE




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


HARGREAVES (TRADING PROPERTY) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


HARGREAVES (TRADING PROPERTY) LIMITED
REGISTERED NUMBER:10831592



STATEMENT OF FINANCIAL POSITION
AS AT 22 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
940,000
940,000

  
940,000
940,000

Current assets
  

Debtors: amounts falling due within one year
 5 
348,840
283,900

Cash at bank and in hand
  
13,409
5,430

  
362,249
289,330

Creditors: amounts falling due within one year
 6 
(30,738)
(26,231)

Net current assets
  
 
 
331,511
 
 
263,099

Total assets less current liabilities
  
1,271,511
1,203,099

Provisions for liabilities
  

Deferred tax
  
(39,103)
(39,103)

  
 
 
(39,103)
 
 
(39,103)

Net assets
  
1,232,408
1,163,996

Page 1

 


HARGREAVES (TRADING PROPERTY) LIMITED
REGISTERED NUMBER:10831592


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 22 DECEMBER 2024

2024
2023
Note
£
£

Capital and reserves
  

Called up share capital 
  
90
90

Profit and loss account - non-distributable
  
53,180
53,180

Profit and loss account
  
1,179,138
1,110,726

  
1,232,408
1,163,996


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 income and retained earnings 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: 




M J Hargreaves
Director

Date: 17 June 2025

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

Page 2

 


HARGREAVES (TRADING PROPERTY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 DECEMBER 2024

1.


General information

Hargreaves (Trading Property) Limited is a private company, limited by shares, and incorporated in England and Wales. The address of the registered office is disclosed on the company information page.

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

Turnover

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:

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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 reporting 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 reporting 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 reporting date.


Page 3

 


HARGREAVES (TRADING PROPERTY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.








 
Page 4

 


HARGREAVES (TRADING PROPERTY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 DECEMBER 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 


HARGREAVES (TRADING PROPERTY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 DECEMBER 2024

4.


Investment property


Long term leasehold investment property

£



Valuation


At 23 December 2023
940,000



At 22 December 2024
940,000

The 2024 valuations were made by the directors based on a previous valuation made by Lambert Smith Hampton, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 23 December 2023
53,180
53,180

At 22 December 2024
53,180
53,180




Page 6

 


HARGREAVES (TRADING PROPERTY) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 22 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
347,090
282,090

Other debtors
-
60

Prepayments and accrued income
1,750
1,750

348,840
283,900



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
22,760
12,424

Other taxation and social security
3,978
5,107

Accruals and deferred income
4,000
8,700

30,738
26,231


Page 7