Hatton Property Investments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09561330

HATTON PROPERTY INVESTMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

HATTON PROPERTY INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		13,336,776	13,665,132

Current assets

Debtors	7	87,016	114,638
Cash at bank and in hand		126,274	103,444
		----------	----------
		213,290	218,082

Creditors: amounts falling due within one year	8	15,289,389		10,098,625
		---------------		---------------
Net current liabilities			15,076,099	9,880,543
			---------------	---------------
Total assets less current liabilities			( 1,739,323)	3,784,589

Creditors: amounts falling due after more than one year	9		–	4,882,319

Provisions

Taxation including deferred tax	41,785	89,223
	-------------	-------------
Net liabilities	( 1,781,108)	( 1,186,953)
	-------------	-------------

Capital and reserves

Called up share capital		100	100
Other reserves	11	1,862,637	1,862,637
Profit and loss account	11	( 3,643,845)	( 3,049,690)
		-------------	-------------
Shareholders deficit		( 1,781,108)	( 1,186,953)
		-------------	-------------

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 income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

HATTON PROPERTY INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 20 June 2025 , and are signed on behalf of the board by:

Z Virani

Director

Company registration number: 09561330

HATTON PROPERTY INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 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 Diamond House, 179-181 Lower Richmond Road, Richmond, England, TW9 4LN.

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 properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

In accordance with the director's responsibilities, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the director has considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The director has reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the director continues to adopt the going concern basis in preparing these financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Property valuations Properties are valued annually at fair value by the directors. Fair value is ascertained through review of a number of factors to include market knowledge and market yields. There is an inevitable degree of judgement involved and value can only ultimately be reliably tested in the market itself.

Turnover and revenue recognition

Turnover represents amounts receivable from gross rents charged to tenants and the invoiced value of other goods and services supplied, net of value added tax. Rents received prior to the period to which they relate are accounted for as deferred income and released to the profit & loss account in the period to which the rent relates. Rental income is recognised as space is made available to tenants.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. The company does not depreciate its freehold properties and although this policy is in accordance with FRS 102, it is a departure from the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount in respect of this which might otherwise have been shown cannot be separately identified or quantified.

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	-	10% straight line
Furniture and Fixture	-	15% straight line

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 3 ).

5. Tax on loss

Major components of tax income

	2024	2023
	£	£

Deferred tax:

Origination and reversal of timing differences	( 47,438)	( 108,559)
	---------	----------
Tax on loss	( 47,438)	( 108,559)
	---------	----------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost or valuation
At 1 January 2024 and 31 December 2024	12,871,617	3,283,548	723,390	16,878,555
	---------------	-------------	----------	---------------
Depreciation
At 1 January 2024	–	2,490,033	723,390	3,213,423
Charge for the year	–	328,356	–	328,356
	---------------	-------------	----------	---------------
At 31 December 2024	–	2,818,389	723,390	3,541,779
	---------------	-------------	----------	---------------
Carrying amount
At 31 December 2024	12,871,617	465,159	–	13,336,776
	---------------	-------------	----------	---------------
At 31 December 2023	12,871,617	793,515	–	13,665,132
	---------------	-------------	----------	---------------

Land and buildings represents a freehold property. In the opinion of the director, the carrying value of the property as at 31 December 2024, which is based on the director's valuation, is not significantly different from the open market fair value of the property.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 December 2024
Aggregate cost	10,614,544
Aggregate depreciation	–
	---------------
Carrying value	10,614,544
	---------------

At 31 December 2023
Aggregate cost	10,614,544
Aggregate depreciation	–
	---------------
Carrying value	10,614,544
	---------------

7. Debtors

	2024	2023
	£	£
Trade debtors	11,217	18,548
Corporation tax repayable	–	35,542
Other debtors	75,799	60,548
	---------	----------
	87,016	114,638
	---------	----------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	2,314,272	200,000
Trade creditors	382,246	331,387
Amounts owed to group undertakings and undertakings in which the company has a participating interest	12,357,853	8,835,465
Social security and other taxes	57,042	51,517
Amounts owed to related parties	159,980	159,980
Other creditors	17,996	520,276
	---------------	---------------
	15,289,389	10,098,625
	---------------	---------------

The bank loan is secured by a legal charge over the company's freehold property.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	–	4,882,319
	----	-------------

The bank loan is secured by a legal charge over the company's freehold property.

10. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	41,785	89,223
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	( 352,651)	( 305,213)
Deferred tax on revaluation of property	394,436	394,436
	----------	----------
	41,785	89,223
	----------	----------

11. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses. Other reserves (non-distributable) - This reserve is used to record changes in the fair value of properties, net of deferred tax.

12. Related party transactions

At 31 December 2024, creditors, amounts falling due within one year, included loans amounting to £12,357,853 (2023: £8,835,4651) from group undertakings, where the ownership is less than 100% wholly owned. Interest of £727,039 (2023: £282,377) was paid. The loans are unsecured and repayable on demand. At 31 December 2024, creditors, amounts falling due within one year, included amounts due to related parties amountng to £159,980 (2023: £159,980), in respect of a loan from a shareholder with a participating interest in the company. Directors' remuneration for the year amounted to £4,271 (2023: £10,250)

13. Controlling party

The company is a 80% subsidiary of Dowgate Limited, a company registered in England & Wales. The registered office of Dowgate Limited is Diamond House, 179 -181 Lower Richmond Road, Richmond, England, TW9 4LN.