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HAVENRIGHT LIMITED

Registered Number
04254039
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

HAVENRIGHT LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

POWIS, Alexander James Mcgrath
POWIS, Benjamin Lawrence
POWIS, Rory

Registered Address

86-90 Paul Street
London
EC2A 4NE

Registered Number

04254039 (England and Wales)
HAVENRIGHT LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3-230
Investments4655,000930,000
655,000930,230
Current assets
Debtors5491,779418,565
Cash at bank and on hand41,6022,085
533,381420,650
Creditors amounts falling due within one year6(123,660)(86,251)
Net current assets (liabilities)409,721334,399
Total assets less current liabilities1,064,7211,264,629
Creditors amounts falling due after one year7(390,929)(552,558)
Provisions for liabilities8(249,224)(261,134)
Net assets424,568450,937
Capital and reserves
Called up share capital11
Profit and loss account424,567450,936
Shareholders' funds424,568450,937
The financial statements were approved and authorised for issue by the Board of Directors on 29 August 2025, and are signed on its behalf by:
POWIS, Rory
Director
Registered Company No. 04254039
HAVENRIGHT LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
Turnover policy
Turnover represents rents receivable. Revenue from rental income is recognised in the period to which it relates in accordance with tenancy agreements.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings254
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 233,829
At 30 June 243,829
Depreciation and impairment
At 01 July 233,600
Charge for year229
At 30 June 243,829
Net book value
At 30 June 24-
At 30 June 23230
4.Fixed asset investments

Total

£
Cost or valuation
At 01 July 23930,000
Disposals(275,000)
At 30 June 24655,000
Net book value
At 30 June 24655,000
At 30 June 23930,000
5.Debtors: amounts due within one year

2024

2023

££
Amounts owed by associates and joint ventures / participating interests269,304216,085
Other debtors222,475202,480
Total491,779418,565
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables137,343
Bank borrowings and overdrafts5,7617,353
Amounts owed to related parties26,031-
Taxation and social security91,86739,081
Accrued liabilities and deferred income-2,474
Total123,66086,251
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts390,929552,558
Total390,929552,558
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)111,141123,051
Other provisions138,083138,083
Total249,224261,134
9.Related party transactions
Included within other debtors is a loan to the former director's brother to develop a property in Greece. As at 30 June 2024 the amount outstanding was £138,083 (2023: £138,083). A provision has been made against this loan as despite attempts to sell the property to realize funds the property remains unsold.