General Information
Hadwen Property Limited is a company limited by shares and is incorporated in England and Wales. The address of the registered office is C/O Bluewater, Quadrant Court, 49 Calthorpe Road, Birmingham, B15 1TH. The nature of the company's operations and its principal activity was that of property investment.
| 1. |
Accounting policies
Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 31 March each year, and are stated in pound sterling, the company's functional and presentational currency.
The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.
Going concern basis
The directors have formed a judgement, at the time of approving the financial statements, that there is an expectation that the Company, with the support of its shareholders, has adequate resources to continue in operational existence for the foreseeable future being at least twelve months from the date of the financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements as set out in the going concern section of the Directors' Report.
Turnover
Turnover comprises of rental income receivable during the period.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and Fittings |
20% Reducing Balance
|
| Computer Equipment |
33% Straight Line
|
Investment properties
Investment properties are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Employees and Directors
Average number of employees during the year was 5 (2025 : 4).
|
| 3. |
Other Fixed Asset Investment
| Cost |
Other Fixed Asset Investment |
|
Total |
| |
£ |
|
£ |
| At 01 April 2025 |
269,265 |
|
269,265 |
| Additions |
1,450,013 |
|
1,450,013 |
| Disposals |
- |
|
- |
| Revaluations |
4,172 |
|
4,172 |
| At 31 March 2026 |
1,723,450 |
|
1,723,450 |
| Amortisation |
| At 01 April 2025 |
- |
|
- |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 March 2026 |
- |
|
- |
| Net book values |
| At 31 March 2026 |
1,723,450 |
|
1,723,450 |
| At 31 March 2025 |
269,265 |
|
269,265 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 April 2025 |
52,702 |
|
73 |
|
52,775 |
| Additions |
5,172 |
|
1,487 |
|
6,659 |
| Disposals |
- |
|
- |
|
- |
| At 31 March 2026 |
57,874 |
|
1,560 |
|
59,434 |
| Depreciation |
| At 01 April 2025 |
24,057 |
|
24 |
|
24,081 |
| Charge for year |
5,027 |
|
515 |
|
5,542 |
| On disposals |
- |
|
- |
|
- |
| At 31 March 2026 |
29,084 |
|
539 |
|
29,623 |
| Net book values |
| Closing balance as at 31 March 2026 |
28,790 |
|
1,021 |
|
29,811 |
| Opening balance as at 01 April 2025 |
28,645 |
|
49 |
|
28,694 |
|
| 5. |
Investment Property
| Cost |
Other investments other than loans |
|
Total |
| |
£ |
|
£ |
| At 01 April 2025 |
5,185,000 |
|
5,185,000 |
| Additions |
- |
|
- |
| Disposals |
(3,110,000) |
|
(3,110,000) |
| At 31 March 2026 |
2,075,000 |
|
2,075,000 |
|
| 6. |
Share Capital
Allotted, called up and fully paid
|
2026
£ |
|
2025
£ |
|
300
Ordinary shares of £1.00 each |
300 |
|
300 |
|
300 |
|
300 |
|
2
|