0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 235,547 201,658 6,778 208,436 27,111 33,889 xbrli:pure xbrli:shares iso4217:GBP 00785653 2023-04-01 2024-03-31 00785653 2024-03-31 00785653 2023-03-31 00785653 2022-04-01 2023-03-31 00785653 2023-03-31 00785653 2022-03-31 00785653 core:PlantMachinery 2023-04-01 2024-03-31 00785653 bus:Director1 2023-04-01 2024-03-31 00785653 core:PlantMachinery 2023-03-31 00785653 core:PlantMachinery 2024-03-31 00785653 core:AfterOneYear 2024-03-31 00785653 core:AfterOneYear 2023-03-31 00785653 core:WithinOneYear 2024-03-31 00785653 core:WithinOneYear 2023-03-31 00785653 core:ShareCapital 2024-03-31 00785653 core:ShareCapital 2023-03-31 00785653 core:OtherReservesSubtotal 2024-03-31 00785653 core:OtherReservesSubtotal 2023-03-31 00785653 core:RetainedEarningsAccumulatedLosses 2024-03-31 00785653 core:RetainedEarningsAccumulatedLosses 2023-03-31 00785653 core:HedgingReserve 2023-03-31 00785653 core:HedgingReserve 2022-03-31 00785653 core:HedgingReserve 2024-03-31 00785653 core:HedgingReserve 2023-03-31 00785653 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 00785653 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-03-31 00785653 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 00785653 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 00785653 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-03-31 00785653 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-03-31 00785653 core:Non-currentFinancialInstruments 2024-03-31 00785653 core:Non-currentFinancialInstruments 2023-03-31 00785653 core:PlantMachinery 2023-03-31 00785653 bus:SmallEntities 2023-04-01 2024-03-31 00785653 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00785653 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00785653 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00785653 bus:FullAccounts 2023-04-01 2024-03-31 00785653 core:HedgingReserve 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 00785653
HADGATE LIMITED
Filleted Unaudited Financial Statements
31 March 2024
HADGATE LIMITED
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
27,111
33,889
Investments
5
15,737,199
13,634,399
-------------
-------------
15,764,310
13,668,288
Current assets
Debtors
6
408,330
76,966
Cash at bank and in hand
72,576
626,457
---------
---------
480,906
703,423
Creditors: amounts falling due within one year
7
44,604
13,062
---------
---------
Net current assets
436,302
690,361
-------------
-------------
Total assets less current liabilities
16,200,612
14,358,649
Creditors: amounts falling due after more than one year
8
7,000,000
7,000,000
Provisions
Taxation including deferred tax
860,797
860,797
-------------
-------------
Net assets
8,339,815
6,497,852
-------------
-------------
Capital and reserves
Called up share capital
100
100
Other reserves
9,633,804
6,952,474
Profit and loss account
( 1,294,089)
( 454,722)
------------
------------
Shareholders funds
8,339,815
6,497,852
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HADGATE LIMITED
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 29 July 2025 , and are signed on behalf of the board by:
K Tehranchian
Director
Company registration number: 00785653
HADGATE LIMITED
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 792 Wickham Road, Croydon, Surrey, CR0 8EA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Freehold Land and Building are revalued regularly so that the carrying amounts do not materially differ from using the fair value at the date of the statement of financial position. Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% reducing balance
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
4. Tangible assets
Plant and machinery
Total
£
£
Cost
At 1 April 2023 and 31 March 2024
235,547
235,547
---------
---------
Depreciation
At 1 April 2023
201,658
201,658
Charge for the year
6,778
6,778
---------
---------
At 31 March 2024
208,436
208,436
---------
---------
Carrying amount
At 31 March 2024
27,111
27,111
---------
---------
At 31 March 2023
33,889
33,889
---------
---------
5. Investments
Investment property
Other investments
Total
£
£
£
Cost
At 1 April 2023
9,850,000
3,784,399
13,634,399
Additions
1,468,671
1,468,671
Revaluations
2,681,330
2,681,330
Transfers
(1,468,670)
(1,468,670)
-------------
------------
-------------
At 31 March 2024
14,000,001
2,315,729
16,315,730
-------------
------------
-------------
Impairment
At 1 April 2023
Impairment losses
578,531
578,531
-------------
------------
-------------
At 31 March 2024
578,531
578,531
-------------
------------
-------------
Carrying amount
At 31 March 2024
14,000,001
1,737,198
15,737,199
-------------
------------
-------------
At 31 March 2023
9,850,000
3,784,399
13,634,399
-------------
------------
-------------
6. Debtors
2024
2023
£
£
Trade debtors
34,906
Other debtors
373,424
76,966
---------
--------
408,330
76,966
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
923
803
Corporation tax
34,906
Other creditors
8,775
12,259
--------
--------
44,604
13,062
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
7,000,000
7,000,000
------------
------------
The bank loan is interest only loan secured against company's assets.
9. Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
2024
2023
£
£
At start of year
6,952,474
6,952,474
Fair value movement in Investment property
2,681,330
------------
------------
At end of year
9,633,804
6,952,474
------------
------------
10. Director's advances, credits and guarantees
2024 2023
£ £
(advances)/credits to the director
Director Loan Accounts (373,424) (76,966)
--------- --------