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Registration number: 04464491

Hareclive Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Hareclive Properties Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Hareclive Properties Limited

Company Information

Director

L King

Company secretary

L King

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Hareclive Properties Limited

(Registration number: 04464491)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

347,690

469,278

Investment property

4

1

-

Investments

5

3

3

 

347,694

469,281

Current assets

 

Stocks

6

673,384

667,000

Debtors

7

30,360

175,750

Cash at bank and in hand

 

85,685

85,869

 

789,429

928,619

Creditors: Amounts falling due within one year

8

(42,488)

(35,500)

Net current assets

 

746,941

893,119

Total assets less current liabilities

 

1,094,635

1,362,400

Creditors: Amounts falling due after more than one year

8

(840,064)

(1,144,813)

Provisions for liabilities

(5,906)

(14,881)

Net assets

 

248,665

202,706

Capital and reserves

 

Called up share capital

9

1

1

Capital redemption reserve

1

1

Retained earnings

248,663

202,704

Shareholders' funds

 

248,665

202,706

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Hareclive Properties Limited

(Registration number: 04464491)
Balance Sheet as at 30 June 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 June 2025
 

.........................................
L King
Company secretary and director

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% straight line

Plant and machinery

25% straight line

Motor vehicles

25% straight line

Office equipment

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

610,689

1,111

52,999

68,870

733,669

Additions

-

-

-

8,120

8,120

Disposals

(180,000)

-

-

(48,720)

(228,720)

At 30 June 2024

430,689

1,111

52,999

28,270

513,069

Depreciation

At 1 July 2023

200,933

277

26,960

36,221

264,391

Charge for the year

8,614

277

10,013

4,983

23,887

Eliminated on disposal

(102,925)

-

-

(19,974)

(122,899)

At 30 June 2024

106,622

554

36,973

21,230

165,379

Carrying amount

At 30 June 2024

324,067

557

16,026

7,040

347,690

At 30 June 2023

409,756

834

26,039

32,649

469,278

Included within the net book value of land and buildings above is £324,067 (2023 - £409,756) in respect of freehold land and buildings.
 

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Investment properties

2024
£

Additions

1

At 30 June

1

There has been no valuation of investment property by an independent valuer.

5

Investments

2024
£

2023
£

Investments in subsidiaries

3

3

Subsidiaries

£

Cost or valuation

At 1 July 2023

3

Provision

Carrying amount

At 30 June 2024

3

At 30 June 2023

3

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Hareclive Properties (1) Limited

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

England

Ordinary shares

100%

100%

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

Hareclive Properties (2) Limited

Unit 1 Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

England

Ordinary shares

100%

100%

Hareclive Properties (3) Limited

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

England

Ordinary shares

100%

100%

Subsidiary undertakings

Hareclive Properties (1) Limited

The principal activity of Hareclive Properties (1) Limited is that of buying, selling and letting of real estate.

Hareclive Properties (2) Limited

The principal activity of Hareclive Properties (2) Limited is that of buying, selling and letting of real estate.

Hareclive Properties (3) Limited

The principal activity of Hareclive Properties (3) Limited is that of buying, selling and letting of real estate.

6

Stocks

2024
£

2023
£

Work in progress

614,190

627,351

Other inventories

59,194

39,649

673,384

667,000

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Debtors

2024
£

2023
£

Trade debtors

25,173

6,110

Prepayments

130

120

Other debtors

5,057

169,520

30,360

175,750

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

10,000

10,000

Trade creditors

 

12,627

8,608

Taxation and social security

 

13,369

7,767

Accruals and deferred income

 

5,046

7,278

Other creditors

 

1,446

1,847

 

42,488

35,500

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

840,064

1,144,813

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary £1 shares of £1 each

1

1

1

1

       
 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

840,064

1,094,813

Other borrowings

-

50,000

840,064

1,144,813

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

11

Related party transactions

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

166,401

166,401

Advanced

3,547

3,547

Repaid

(169,948)

(169,948)

At end of period

-

-

2023

Subsidiary
£

Key management
£

Total
£

At start of period

324,115

37,994

362,109

Advanced

18,724

32,428

51,152

Repaid

(176,438)

(70,422)

(246,860)

At end of period

166,401

-

166,401

 

Hareclive Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Loans from related parties

2024

Key management
£

Total
£

At start of period

698

698

Advanced

70,737

70,737

Repaid

(71,139)

(71,139)

At end of period

296

296

2023

Key management
£

Total
£

Advanced

698

698

At end of period

698

698