Company No: 00975974 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	18,753		21,645
Investment property	4	4,000,000		2,572,596
		4,018,753		2,594,241
Current assets
Debtors	5	7,455		24,749
Cash at bank and in hand		45,982		60,583
		53,437		85,332
Creditors: amounts falling due within one year	6	( 10,881)		( 23,238)
Net current assets		42,556		62,094
Total assets less current liabilities		4,061,309		2,656,335
Provision for liabilities		( 230,076)		( 4,113)
Net assets		3,831,233		2,652,222
Capital and reserves
Called-up share capital		1,100		1,100
Fair value reserve		1,222,853		21,962
Profit and loss account		2,607,280		2,629,160
Total shareholders' funds		3,831,233		2,652,222

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Hagas (Home & Garden) Supplies Limited (registered number: 00975974) were approved and authorised for issue by the Director on 06 January 2026. They were signed on its behalf by:

A J Tucker Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hagas (Home & Garden) Supplies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Collingwood Cottage, Ewen, Cirencester, GL7 6PZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised as rent received by the tenants inhabiting the companies property.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by external valuers and derived from current market rent and investment property yields for comparable real estate, adjusted if necessary, for any difference in nature, location or condition of the specific property.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	1		1

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£		£
Cost
At 01 August 2024	52,872		4,525		52,142		1,765		111,304
Additions	2,640		0		0		0		2,640
At 31 July 2025	55,512		4,525		52,142		1,765		113,944
Accumulated depreciation
At 01 August 2024	32,464		4,525		50,905		1,765		89,659
Charge for the financial year	5,157		0		375		0		5,532
At 31 July 2025	37,621		4,525		51,280		1,765		95,191
Net book value
At 31 July 2025	17,891		0		862		0		18,753
At 31 July 2024	20,408		0		1,237		0		21,645

4. Investment property

	Investment property
	£
Valuation
As at 01 August 2024	2,572,596
Fair value movement	1,427,404
As at 31 July 2025	4,000,000

Valuation

A full market valuation of investment property was completed during the year. As a result of the valuation a number of properties prior period impairments were reversed. The fair value of the Group’s residential investment property at 31 July 2025 have been arrived at on the basis of valuations carried out on that date by external valuers having appropriate relevant professional qualifications and recent experience in the location and category of property being valued. The valuations performed which conform to the Valuations Standards of the Royal Institution of Chartered Surveyors and with the International Valuations Standards (IVS) 2013 were arrived at by reference to market evidence of transaction prices for similar properties. The comparison approach was used for all residential properties which involved reviewing recent market evidence from the sales of similar properties during the period.

For commercial investment property, the yield methodology was used which involved applying market derived capitalisation yields to current and market derived future income streams with appropriate adjustments for income voids arising from vacancies or rent free periods. These capitalisation yields and future income streams are derived from comparable property and leasing transactions.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2025		2024
	£		£
Historic cost	2,449,083		2,449,083

5. Debtors

	2025		2024
	£		£
Trade debtors	415		6,132
Other debtors	7,040		18,617
	7,455		24,749

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	4,004		3,349
Taxation and social security	296		8,864
Other creditors	6,581		11,025
	10,881		23,238

7. Related party transactions

At 01 August 2024 the balance owed from the director was £13,307. During the year, the company made advances to the director amounting to £3,500 and received repayments of £16,807 leaving a balance due from the director of £nil.

At 01 August 2023 the balance owed from the director was £11,793. During the year, the company made advances to the director amounting to £30,464 and received repayments of £28,950 leaving a balance due from the director of £13,307.

The Directors loan account is repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 at the official HMRC rates.