HAR Developments Limited Accounts

HAR DEVELOPMENTS LIMITED - Company Information






	HAR Developments Limited
	Company No. 10769214
	Information for Filing with The Registrar
	31 May 2021

at	31 May 2021
Company No.		10769214	Notes	2021	2020
				£	£
Fixed assets

	Tangible assets		4	4,445	439
	Investment property		5	1,304,945	1,724,139

				1,309,390	1,724,578
Current assets

	Debtors		6	438,721	168,427

	Cash at bank and in hand			171,259	175,951
				609,980	344,378
Creditors: Amount falling due within one year			7	(340,083)	(635,074)
Net current assets/(liabilities)				269,897	(290,696)
Total assets less current liabilities				1,579,287	1,433,882
Creditors: Amounts falling due after more than one year			8	(1,120,516)	(1,192,170)
Provisions for liabilities
	Deferred taxation		9	(83)	(83)

Net assets				458,688	241,629

Capital and reserves
	Called up share capital			10	10



	Profit and loss account		10	458,678	241,619

Total equity				458,688	241,629



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 31 May 2021
And signed on its behalf by:
T. Brett
Director
31 May 2021

for the year ended 31 May 2021

General information

Its registered number is: 10769214

Its registered office is:

4 Lilley Drive

Kingswood

Tadworth

Surrey

KT20 6JA

The functional and presentational currency of the company is Sterling . The monetary amounts in the accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Accounting policies

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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 profit and loss account 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

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

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Investments

Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic financial instruments measured at fair value.

3	Employees
			2021	2020
			Number	Number
		The average monthly number of employees (including directors) during the year was:	2	2

4	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 June 2020	1,050	1,050
		Additions	4,356	4,356



		At 31 May 2021	5,406	5,406
		Depreciation
		At 1 June 2020	611	611
		Charge for the year	350	350



		At 31 May 2021	961	961
		Net book values
		At 31 May 2021	4,445	4,445
		At 31 May 2020	439	439

5	Investment property
			Freehold Investment Property
			£
		Valuation
		At 1 June 2020	1,724,139


		Disposals	(419,194)
		At 31 May 2021	1,304,945

6	Debtors
			2021	2020
			£	£
		Trade debtors	49,078	47,427
		Amounts owed by group undertakings	389,643	-




		Other debtors	-	121,000

			438,721	168,427

7	Creditors amounts falling due within one year:
			2021	2020
			£	£

		Bank loans and overdrafts	-	43,074


		Trade creditors	222	1,200

		Corporation tax	64,050	64,149
		Other taxes and social security	40,304	36,006
		Loans from directors	128,204	317,246
		Other creditors	100,000	100,000
		Accruals and deferred income	7,303	73,399
			340,083	635,074

8	Creditors amounts falling due after more than one year:
			2021	2020
			£	£

		Bank loans and overdrafts	1,120,516	1,192,170






			1,120,516	1,192,170

9	Provisions for liabilities
		Deferred taxation
			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 June 2020	83	83


		At 31 May 2021	83	83



			2021	2020
			£	£


		Revaluation of land and buildings	83	83

			83	83

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

11	Dividends
			2021	2020
			£	£
		Dividends for the period:
		Dividends paid in the period	60,000	98,700

			60,000	98,700

		Dividends by type:

		Equity dividends	60,000	98,700
			60,000	98,700

Related party disclosures

At the balance sheet date £128,204 was owed to the directors by the company.

Controlling party

Immediate controlling party

No single party controls the company