Haus Life East Limited Filleted accounts for Companies House (small and micro)

Haus Life East Limited Filleted accounts for Companies House (small and micro)

HAUS LIFE EAST LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 13194366
Haus Life East Limited
Filleted Unaudited Financial Statements
31 July 2022
Haus Life East Limited
Financial Statements
Period from 10 February 2021 to 31 July 2022
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Haus Life East Limited
Balance Sheet
31 July 2022
31 Jul 22
Note
£
£
Fixed assets
Tangible assets
4
5,836
Investments
5
3,650,000
------------
3,655,836
Current assets
Debtors
6
76,634
Cash at bank and in hand
15,981
--------
92,615
Creditors: amounts falling due within one year
7
( 995,516)
---------
Net current liabilities
( 902,901)
------------
Total assets less current liabilities
2,752,935
Creditors: amounts falling due after more than one year
8
( 2,708,787)
------------
Net assets
44,148
------------
Haus Life East Limited
Balance Sheet (continued)
31 July 2022
31 Jul 22
Note
£
£
Capital and reserves
Called up share capital
100
Profit and loss account
44,048
--------
Shareholders funds
44,148
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period ending 31 July 2022 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 period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 November 2022 , and are signed on behalf of the board by:
Dr A R James
Director
Company registration number: 13194366
Haus Life East Limited
Notes to the Financial Statements
Period from 10 February 2021 to 31 July 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Investments
Investment properties are initially recorded at cost, and subsequently stated at fair value.
4. Tangible assets
Plant and machinery
Total
£
£
Cost
At 10 February 2021
–
–
Additions
8,756
8,756
-------
-------
At 31 July 2022
8,756
8,756
-------
-------
Depreciation
At 10 February 2021
–
–
Charge for the period
2,920
2,920
-------
-------
At 31 July 2022
2,920
2,920
-------
-------
Carrying amount
At 31 July 2022
5,836
5,836
-------
-------
5. Investments
Property Investments
£
Cost
At 10 February 2021
–
Additions
3,650,000
------------
At 31 July 2022
3,650,000
------------
Impairment
At 10 February 2021 and 31 July 2022
–
------------
Carrying amount
At 31 July 2022
3,650,000
------------
The investment assets are valued at cost and purchased during the period. The directors believe this is the indicative market value as at the period end.
6. Debtors
31 Jul 22
£
Other debtors
76,634
--------
7. Creditors: amounts falling due within one year
31 Jul 22
£
Corporation tax
11,463
Other creditors
984,053
---------
995,516
---------
8. Creditors: amounts falling due after more than one year
31 Jul 22
£
Other creditors
2,708,787
------------
Securities are held by the lenders over the assets in the company.
9. Related party transactions
The company has a loan with its parent company. This loan is interest free and repayable on demand. Haus Life East Limited owes £980,453 to this company. Property totalling £3,650,000 was sold by the parent to Haus Life East Limited during the period, all at market value. The company is owed £76,384 by another company which is controlled by the directors of Haus Life East Limited . This loan is interest free and repayable on demand.
10. Controlling party
The company's parent company throughout the period was Bauhaus East Limited, who have a controlling interest. Bauhaus East Limited is incorporated in England and Wales and its registered office and principal place of business is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.