Harvington Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02069071 (England and Wales)

HARVINGTON PROPERTIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I P Fitter ACA

R I Harrington

SECRETARY:

Ms C A Freeman

REGISTERED OFFICE:

417 Finchley Road

Hampstead

London

NW3 6HJ

REGISTERED NUMBER:

02069071 (England and Wales)

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

FIXED ASSETS

Tangible assets

4

700,524

708,808

Investment property

5

20,911,216

21,433,216

21,611,740

22,142,024

CURRENT ASSETS

Stocks

6

3,266,196

3,734,332

Debtors

7

57,214

79,818

Cash at bank

5,392,082

3,906,028

8,715,492

7,720,178

CREDITORS

Amounts falling due within one year

8

1,482,229

766,111

NET CURRENT ASSETS

7,233,263

6,954,067

TOTAL ASSETS LESS CURRENT LIABILITIES

28,845,003

29,096,091

CREDITORS

Amounts falling due after more than one year

9

(10,377

)

(284,329

)

PROVISIONS FOR LIABILITIES

11

(2,712,095

)

(2,800,019

)

NET ASSETS

26,122,531

26,011,743

CAPITAL AND RESERVES

Called up share capital

12

13,345

Share premium

13

505,731

Revaluation reserve

13

484,126

489,331

Capital redemption reserve

13

4,055

Other reserves

13

9,383,993

9,905,993

Retained earnings

13

15,731,281

15,093,288

SHAREHOLDERS' FUNDS

26,122,531

26,011,743

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 27 May 2026 and were signed on its behalf by:

I P Fitter ACA - Director

1.	STATUTORY INFORMATION

Harvington Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating the market value of investment properties. A review of the value of investment properties is carried out by management regularly. Whilst every attempt is made to ensure that the value is as accurate as possible, there remains a risk that the value disclosed in the accounts does not match the actual market value at the balance sheet date.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of rent receivables is carried out at the Year End. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating stock provisions. A review of stock is carried out at the year end. Whilst every attempt is made to ensure that the stock provision is as accurate as possible, there remains a risk that the provision does not match the level of stock which ultimately prove to be obsolete.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 1% straight line basis

Fixtures and fittings - 15% on reducing balance

Computer equipment - 33% on cost

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.

Depreciation is not provided in respect of investment property. This policy represents a departure from the Companies Act 2006 which requires depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic depreciation.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and redevelopment.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rent receivable

Rent receivable represents rental income for the year from investment properties held on the company's balance sheet. Rent is recognised as it is accrued on a monthly basis, in line with rental agreements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

COST

At 1 September 2024

and 31 August 2025

775,000

24,298

4,530

803,828

DEPRECIATION

At 1 September 2024

69,750

20,740

4,530

95,020

Charge for year

7,750

534

-

8,284

At 31 August 2025

77,500

21,274

4,530

103,304

NET BOOK VALUE

At 31 August 2025

697,500

3,024

-

700,524

At 31 August 2024

705,250

3,558

-

708,808

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

21,433,216

Revaluations

(522,000

)

At 31 August 2025

20,911,216

NET BOOK VALUE

At 31 August 2025

20,911,216

At 31 August 2024

21,433,216

Fair value at 31 August 2025 is represented by:

£

Valuation in 2000

461,076

Valuation in 2003

541,614

Valuation in 2004

67,000

Valuation in 2006

1,922,755

Valuation in 2011

(2,002,248

)

Valuation in 2012

1,414,000

Valuation in 2015

1,424,000

Valuation in 2016

51,384

Valuation in 2024

8,824,695

Valuation in 2025

(522,000

)

Cost

8,728,940

20,911,216

Investment property was valued on an open market basis on 31 August 2025 by the directors .

6.

STOCKS

2025

2024

£

Work in progress

3,266,196

3,734,332

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

1,012

Other debtors

56,202

78,806

57,214

79,818

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

10

Taxation and social security

276,654

729,637

Other creditors

1,205,565

36,464

1,482,229

766,111

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Other creditors

10,377

284,329

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Other creditors

844,351

279,140

Other creditors are secured by a fixed and floating charge over the undertakings and all property of the company.

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

2,712,095

2,800,019

Deferred

tax

£

Balance at 1 September 2024

2,800,019

Credit to Profit and Loss Account during year

(87,924

)

Balance at 31 August 2025

2,712,095

12.	CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:

Number:

Class

Nominal Value

2025

2024

£

2,400

Ordinary

£1

2,400

5,000

Ordinary 'A'

£1

5,000

Ordinary 'B'

£1

2,875

3,070

Ordinary 'C'

£1

3,070

13,345

13.

RESERVES

Retained

Share

Revaluation

earnings

premium

reserve

£

At 1 September 2024

15,093,288

505,731

489,331

Profit for the year

110,788

-

Transfer to other reserve

522,000

-

Transfer of depreciation

5,205

-

(5,205

)

At 31 August 2025

15,731,281

505,731

484,126

Capital

redemption

Other

reserve

reserves

Totals

£

At 1 September 2024

4,055

9,905,993

25,998,398

Profit for the year

-

110,788

Transfer to other reserve

-

(522,000

)

-

At 31 August 2025

4,055

9,383,993

26,109,186

Retained earnings

Retained earnings represents cumulative profits and losses net of dividends and other adjustments which are non-distributable.

Share premium account

The share premium account represents the premium arising on the issue of shares net of issue costs.

Revaluation reserve

The revaluation reserve represents the cumulative effect of revaluations (net of deferred tax) of tangible fixed assets where a policy of revaluation has been adopted.

Capital redemption reserve

The capital redemption reserve represents the share capital which has been purchased back by the company.

Other reserves

The other reserves represent non distributable reserves which have arisen from profits and losses on the revaluation of investment properties (net of deferred tax).

14.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Hassan Behcet (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

15.	RELATED PARTY DISCLOSURES

Secured debts (note 10) includes loans from shareholders to the company amounting to £844,351 (2024: £279,140). Gross loan interest charged on the loans during the year amounted to £26,250 (2024: 26,250).

16.	POST BALANCE SHEET EVENTS

100% of shares in Harvington Properties Limited were sold to Harvington Limited