Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Harepath SW19 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C P Ackley

P J Whiteway

REGISTERED OFFICE:

8-10 South Street

Epsom

Surrey

KT18 7PF

REGISTERED NUMBER:

10497539 (England and Wales)

ACCOUNTANTS:

Williams & Co Epsom LLP

Chartered Accountants

8-10 South Street

Epsom

Surrey

KT18 7PF

FIXED ASSETS

Investment property

4

4,200,000

4,200,000

CURRENT ASSETS

Stocks

5

6,877,418

6,851,947

Debtors

6

130,178

133,696

Cash at bank

66,031

77,530

7,073,627

7,063,173

CREDITORS

Amounts falling due within one year

7

3,211,011

2,941,905

NET CURRENT ASSETS

3,862,616

4,121,268

TOTAL ASSETS LESS CURRENT LIABILITIES

8,062,616

8,321,268

CREDITORS

Amounts falling due after more than one year

8

7,140,000

7,896,058

NET ASSETS

922,616

425,210

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

922,516

425,110

SHAREHOLDERS' FUNDS

922,616

425,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2025 and were signed on its behalf by:

C P Ackley - Director

1.	STATUTORY INFORMATION

Harepath SW19 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents income derived from sale of properties, recognised following legal completion and also from rents and ground rents charged, and the provision of electricity charges, excluding value added tax.

Rental income is recognised over the period to which it relates. Rents received in advance are carried as a liability within deferred income.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Work in progress

Work in progress is measured at the lower of cost and net realisable value.

Work in progress includes land and build costs, alongside capitalised borrowing costs and any other costs directly attributable in bringing the sites to completion.

Derecognition takes place on sale of a property.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

4,200,000

NET BOOK VALUE

At 31 March 2025

4,200,000

At 31 March 2024

4,200,000

5.

STOCKS

2025

2024

£

£

Work-in-progress

6,877,418

6,851,947

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

12,439

30,165

Other debtors

95,990

91,441

VAT

1,840

-

Prepayments

19,909

12,090

130,178

133,696

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans (see note 9)

342,145

370,000

Trade creditors

44,396

83,931

Amounts owed to group undertakings

1,503,880

1,098,187

Tax

29,300

-

VAT

-

12,835

Other creditors

96,026

91,469

Directors' current accounts

287,033

500,283

Accruals and deferred income

632,432

-

Accrued expenses

275,799

785,200

3,211,011

2,941,905

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 9)

7,140,000

7,896,058

9.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Other loans

342,145

370,000

2025

2024

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

7,140,000

7,896,058

Bank loans are secured by a legal charge over the property owned by the company, and (in part) a joint and several personal guarantee in the sum of £760,000 given by the Directors.

Other loans represent monies lent from private investors and are unsecured.

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

7,140,000

7,896,058

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100