Harmad Properties Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 13928130

		2026		2025 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		307,759		307,759

			307,759		307,759
CURRENT ASSETS
Debtors	6	1,566		2
Cash at bank and in hand		3,865		6,943

		5,431		6,945
Creditors: Amounts Falling Due Within One Year	7	2		-

NET CURRENT ASSETS (LIABILITIES)			5,433		6,945

TOTAL ASSETS LESS CURRENT LIABILITIES			313,192		314,704

Creditors: Amounts Falling Due After More Than One Year	8		(292,348 )		(296,088 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(6,880 )		(6,880 )

NET ASSETS			13,964		11,736

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			13,962		11,734

SHAREHOLDERS' FUNDS			13,964		11,736

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Harmad Properties Ltd

Balance Sheet (continued)

As At 28 February 2026

For the year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Stephen Wilson

Director

26/06/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Harmad Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13928130 . The registered office is 99 Lichfield Rd, Brownhills, Walsall, WS8 6JA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover represents rental income receivable from investment properties during the year. All turnover arises within the United Kingdom.

2.3. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2025: 1)

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Harmad Properties Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

4. Prior Period Adjustment

During the year, the directors identified that the financial statements for the year ended 28 February 2025 had been prepared under FRS 105, which was not appropriate given the nature of the company’s investment property activities.

The company has therefore adopted FRS 102 for the year ended 28 February 2026. Under FRS 102, investment property is measured at fair value, with movements recognised in profit and loss, and deferred tax is provided on timing differences.

In the prior year accounts, a revaluation uplift had been recognised in a revaluation reserve. This treatment is not permitted under FRS 105 or FRS 102. The comparative figures have therefore been restated to remove the revaluation reserve and reflect the appropriate classification within retained earnings.

The fair value gain on the investment property of £27,519.84 arose in the year ended 28 February 2025 and has been recognised in profit and loss in that year. Deferred tax has been recognised on this gain in accordance with FRS 102.

The effect of the prior period adjustment is to reclassify reserves and recognise a deferred tax liability of £6,879.96 at 28 February 2025.

Impact of prior period adjustment at 28 February 2025:

Revaluation reserve removed (27,519.84)

Retained earnings adjustment 27,519.84

Deferred tax recognised (6,879.96)

Net decrease in equity (6,879.96)

5. Tangible Assets

	Land & Property
	Freehold
	£
Cost
As at 1 March 2025	307,759

As at 28 February 2026	307,759

Net Book Value
As at 28 February 2026	307,759

As at 1 March 2025	307,759

6. Debtors

	2026	2025 as restated
	£	£
Due within one year
Other debtors	-	2
Due after more than one year
Other debtors	1,566	-

	1,566	2

7. Creditors: Amounts Falling Due Within One Year

	2026	2025 as restated
	£	£
Trade creditors	(2 )	-

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Harmad Properties Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2026

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025 as restated
	£	£
Bank loans	229,600	296,088
Other creditors	62,748	-

	292,348	296,088

9. Share Capital

	2026	2025 as restated
	£	£
Allotted, Called up and fully paid	2	2

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