REGISTERED NUMBER: 15703154 (England and Wales)

HASTINGS STREET LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

3 MAY 2024 TO 31 MARCH 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

Mr I S Midha

Mr P S Millan

REGISTERED OFFICE:

34 Carpenders Close

Harpenden

AL5 3HN

REGISTERED NUMBER:

15703154 (England and Wales)

ACCOUNTANTS:

Duncan and Toplis Limited

Pinnacle House

1 Pinnacle Way

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Investment property

4

4,831,000

CURRENT ASSETS

Debtors

5

378,127

Cash at bank

13,852

391,979

CREDITORS

Amounts falling due within one year

6

2,452,322

NET CURRENT LIABILITIES

(2,060,343

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,770,657

CREDITORS

Amounts falling due after more than one year

7

(2,119,805

)

PROVISIONS FOR LIABILITIES

(157,206

)

NET ASSETS

493,646

CAPITAL AND RESERVES

Called up share capital

9

2

Non distributable reserve

10

471,619

Retained earnings

22,025

SHAREHOLDERS' FUNDS

493,646

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

The members have not required the company to obtain an audit of its financial statements for the period 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

Mr P S Millan - Director

1.	STATUTORY INFORMATION

Hastings Street 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable.

Investment property

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

A transfer is made from retained earnings to the non distributable reserve for the amount of any market value surplus or deficit net of deferred tax provided.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

4,202,174

Revaluations

628,826

At 31 March 2025

4,831,000

NET BOOK VALUE

At 31 March 2025

4,831,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

628,826

Cost

4,202,174

4,831,000

If investment properties had not been revalued they would have been included at the following historical cost:

£

Cost

4,202,174

Investment properties were valued on an open market basis on 31 March 2025 by the director, Mr P S Millan .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

377,690

Prepayments and accrued income

437

378,127

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

17,265

Amounts owed to associates

2,420,200

Taxation

5,178

Other creditors

1,775

Directors' current accounts

2,388

Accruals and deferred income

5,516

2,452,322

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans - 1-2 years

18,423

Bank loans - 2-5 years

2,101,382

2,119,805

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

2,137,070

The bank loans are secured by a charge on the investment properties.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£1

2

10.

RESERVES

Non

distributable

reserve

£

Transfer between reserves

471,619

At 31 March 2025

471,619

11.	RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided from associates amounted to £2,420,200.