The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 26 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Hattonfield Limited is a private company limited by shares incorporated in England and Wales with registration number 01356420. The registered office is Ramillies House, 2 Ramillies Street, London, W1F 7LN.

These financial statements have been prepared in accordance with the provisions of FRS 102 section 1A for small entities. There were no material departures from the standard.

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

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

The company revenue comprises of rental income and commission receivable from its consultancy services recognised on a receivable basis.

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognized at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss and deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The net unrealised gains for the year are transferred to fair value reserve. When the gains are realised on disposal, the net realised gain is transferred to retained earnings.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as property, plant and equipment.

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. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets, which include trade and other receivables 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.

Basic financial liabilities, including trade and other payables, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing difference.

During the year, deferred tax provision amounted to £860,425 (2023: £860,425).

The average monthly number of persons (including directors) employed by the company during the year was:

Trade receivables, due within one year, includes debts amounting to £426,650 (2023: £426,650) due from a company under common control.

Other receivables, due within one year, includes debts amounting to £157,823 (2023: £51,368) due from a company under common control.

Other payables include debts amounting to £108,951 (2023: £108,951) due to companies under common control which are repayable on demand.

Other borrowings include debts amounting to £303,897 (2023: £328,897) due to companies under common control which are repayable on demand.

On 07 January 2020, the company took a mortgage of £1,700,000 from Investec Bank to finance the acquisition of properties at Flat 1, 262 and 264 King Street, Hammersmith, W6 0SP. As at the year end, the mortgage outstanding amounted to £1,728,195 (2023: £1,728,195).

The material related party transactions for the year ended 26th June 2024 were:

1. During the year, the company advanced a loan of amount £444,000 to Toby Leighton Pope, the son of the director. This balance is still outstanding at the year end. The company has therefore recognized a corporation tax liability of £149,850 under CTA 2010 s455 in respect of this loan. In addition, interest at the rate of 3.25% was charged on the loan.

2. During the year, the company paid consultancy fees for a total amount of £138,800 (2023: £NIL) to Andrew Leighton Pope, the son of the director. Those expenses were incurred wholly for business purposes.

The company has taken advantage of the exemption in FRS102 33.1A not to disclose transactions between associated companies, unless considered significant or material.

As at 26 June 2024, the amount outstanding on the directors loan account was £451,404 (2023: £451,404), which includes interest of £14,671 provided at 3.25% per annum. This loan was still outstanding nine months after the accounting year end.

The company is jointly controlled by the directors, Mr C Leighton-Pope and Mrs P Leighton-Pope by virtue of their shareholdings.