REGISTERED NUMBER: 08062137 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HIRA DEVELOPMENTS LTD

Page

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr P H Govind

Mrs J Govind

SECRETARY:

Mr P H Govind

REGISTERED OFFICE:

505 Pinner Road

Harrow

Middlesex

HA2 6EH

REGISTERED NUMBER:

08062137 (England and Wales)

ACCOUNTANTS:

STG Accountants Limited

505 Pinner Road

Harrow

Middlesex

HA2 6EH

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hira Developments Ltd for the year ended 31 March 2025 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Hira Developments Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hira Developments Ltd and state those matters that we have agreed to state to the Board of Directors of Hira Developments Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hira Developments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hira Developments Ltd. You consider that Hira Developments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hira Developments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

STG Accountants Limited

505 Pinner Road

Harrow

Middlesex

HA2 6EH

15 December 2025

FIXED ASSETS

Investments

3

50

25

Investment property

4

2,671,000

1,643,714

2,671,050

1,643,739

CURRENT ASSETS

Debtors

5

85,345

21,857

Cash at bank and in hand

8,162

11,682

93,507

33,539

CREDITORS

Amounts falling due within one year

6

120,379

45,254

NET CURRENT LIABILITIES

(26,872

)

(11,715

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,644,178

1,632,024

CREDITORS

Amounts falling due after more than one year

7

(1,260,214

)

(1,309,951

)

PROVISIONS FOR LIABILITIES

(222,793

)

-

NET ASSETS

1,161,171

322,073

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

9

804,493

-

Retained earnings

356,578

321,973

SHAREHOLDERS' FUNDS

1,161,171

322,073

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

Mr P H Govind - Director

1.	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 as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 March 2025 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 April 2023.

Turnover

Turnover comprises rental income arising from the letting of investment properties. Rental income is recognised on a straight-line basis over the period of the lease, unless another systematic basis is more representative of the time pattern of the lessee’s benefit.

Service charge income and recharges to tenants are recognised in turnover when the related expenditure is incurred and recoverable under the terms of the lease.

All turnover is stated net of VAT where applicable.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Investment property

Investment properties are recognised at cost on initial recognition, including any directly attributable acquisition costs.

Subsequent to initial recognition, investment properties are measured at fair value at each reporting date, with any changes in fair value recognised in the profit and loss account in the period in which they arise.

Where obtaining a reliable fair value is not possible without undue cost or effort, the property is measured at cost less accumulated depreciation and impairment, and this fact is disclosed in the notes to the financial statements.

Rental income from investment properties is recognised on a straight-line basis over the lease term.

The company does not depreciate investment properties that are carried at fair value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

3.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2024

25

Additions

25

At 31 March 2025

50

NET BOOK VALUE

At 31 March 2025

50

At 31 March 2024

25

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,643,714

Revaluations

1,027,286

At 31 March 2025

2,671,000

NET BOOK VALUE

At 31 March 2025

2,671,000

At 31 March 2024

1,643,714

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

1,027,286

Cost

1,643,714

2,671,000

The investment property has been valued by the director at the year end, based on their professional knowledge of the local property market, comparable evidence, and prevailing economic conditions. The director considers that the carrying value is a reasonable approximation of fair value and is not materially different from the amount disclosed in these financial statements.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

885

3,250

Amounts owed by group undertakings

82,430

-

Amounts owed by connected company

-

15,534

Other debtors

2,030

3,073

85,345

21,857

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,954

9,741

Amounts owed to connected company

8,842

8,420

Taxation and social security

10,776

16,187

Other creditors

97,807

10,906

120,379

45,254

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,260,214

1,260,214

Other creditors

-

49,737

1,260,214

1,309,951

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

1,260,214

1,260,214

Other loans

-

49,737

1,260,214

1,309,951

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,260,214

1,260,214

The bank loans are secured by way of a charge over the investment properties.

9.

RESERVES

Fair

value

reserve

£

Movement in the year

804,493

At 31 March 2025

804,493

10.	FIRST YEAR ADOPTION

These financial statements are the first in which the company has applied FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (adapted to refer to Section 1A Small Entities). In prior periods, the financial statements were prepared in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

The transition from FRS 105 to FRS 102 (Section 1A) has resulted in changes to the accounting policies and presentation of the financial statements. The most significant impact of this transition for the company relates to the accounting for investment property.

Under FRS 105, investment property was measured at cost less accumulated depreciation. However, in accordance with FRS 102 (Section 16), investment property is now measured at fair value at each reporting date, with any changes in fair value recognised in profit or loss. Consequently, depreciation is no longer charged on investment property.

The impact of this change in accounting policy on the company's financial position and financial performance is presented below: