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Company No: 05173408 (England and Wales)

# HAVLITTEN LIMITED

### Unaudited Financial Statements
For the financial year ended 31 July 2025
Pages for filing with the registrar

HAVLITTEN LIMITED

## Unaudited Financial Statements

For the financial year ended 31 July 2025

Contents

HAVLITTEN LIMITED

## BALANCE SHEET

As at 31 July 2025
HAVLITTEN LIMITED

## BALANCE SHEET (continued)

As at 31 July 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 955,000 |  | 990,000
|  | 955,000 |  | 990,000
Current assets |  |  |  |
Debtors |  |  |  |
- due within one year | 4 | 105,231 |  | 0
- due after more than one year | 4 | 15,805 |  | 0
Cash at bank and in hand |  | 23,650 |  | 14,424
|  | 144,686 |  | 14,424
Creditors: amounts falling due within one year | 5 | ( 443,663) |  | ( 357,161)
Net current liabilities |  | (298,977) |  | (342,737)
Total assets less current liabilities |  | 656,023 |  | 647,263
Provision for liabilities |  | ( 125,481) |  | ( 133,165)
Net assets |  | 530,542 |  | 514,098
Capital and reserves |  |  |  |
Called-up share capital | 6 | 100 |  | 100
Fair value reserve |  | 376,443 |  | 399,494
Profit and loss account |  | 153,999 |  | 114,504
Total shareholders' funds |  | 530,542 |  | 514,098

Included within the fair value reserve is £376,443(2024: £399,494) of non-distributable reserves.

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.

Directors' 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 directors acknowledge 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 Havlitten Limited (registered number: 05173408) were approved and authorised for issue by the Board of Directors on 21 August 2026. They were signed on its behalf by:

Mr M J C Hember Director |  | Mr S E H Hember Director

HAVLITTEN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025
HAVLITTEN LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025

##### 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

Havlitten 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 Wychwood House Brighton Road, Shermanbury, Horsham, RH13 8HE, 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 £.

##### Going concern

Although there are negative net current liabilities of £297,874 (2024 - £342,737), the directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover represents the rent receivable for the year. Rental income is recognised in the period to which it relates. Rent received in advance is deferred and presented within accruals and deferred income in creditors. Rent not received but that has been invoiced by the period end is included in trade debtors.

##### 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Investment property

Investment property represents the company's portfolio of residential properties. It is initially recognised at cost, which includes purchase cost and any directly attributable expenditure. Investment property is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 3 |  | 3

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 August 2024 | 990,000
Fair value movement | (30,836)
Other changes | (4,164)
As at 31 July 2025 | 955,000

Investment property comprises three apartments in The Wool Store in Codford. The fair value of the investment property has been arrived at on the basis of a valuation carried out on 24th October 2025 by Savills, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. This class of assets has a current value of £955,000 (2024 - £990,000) and a carrying amount at historical cost of £453,076 (2024 - £457,240). The depreciation on this historical cost is £0 (2024 - £0).

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Other debtors | 105,231 |  | 0
Debtors: amounts falling due after more than one year |  |  |
Other debtors | 15,805 |  | 0

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Trade creditors | 2,250 |  | 874
Taxation and social security | 29,615 |  | 4,539
Other creditors | 411,798 |  | 351,748
| 443,663 |  | 357,161

#### 6. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 7. Related party transactions

The company owns 60% of the issued ordinary share capital of The Wool Store Limited. No consideration was paid for the acquisition of the shares and accordingly the investment is held at a carrying value of £nil.

#### 8. Directors loan account

| 2025
| £
Opening balance | 86,415
Advances to director | 18,816
| 105,231

Interest is being charged on the above loan at HMRC official interest rate.