Habodel 8 Limited Filleted accounts for Companies House (small and micro)

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Habodel 8 Limited

Unaudited financial statements

30 April 2021

Company Registration Number 10148928

Habodel 8 Limited

Financial statements

year ended 30 April 2021

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 5

Habodel 8 Limited

Balance sheet

30 April 2021

	2021		2020
Note		£		£

Fixed assets

Tangible assets	4		25,760,000		21,413,000

Current assets

Debtors	5	6,010	627,024
Cash at bank and in hand		147,226	26,834
		---------	---------
		153,236	653,858

Creditors: amounts falling due within one year	6	8,617,159		8,194,380
		------------		------------
Net current liabilities			8,463,923		7,540,522
			-------------		-------------
Total assets less current liabilities			17,296,077		13,872,478

Creditors: amounts falling due after more than one year	7		13,990,749		12,384,926

Provisions	1,250,914	997,065
	-------------	-------------
Net assets	2,054,414	490,487
	-------------	-------------

Capital and reserves

Called up share capital	1	1
Profit and loss account	2,054,413	490,486
	------------	---------
Shareholders funds	2,054,414	490,487
	------------	---------

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 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 and directors' report have not been delivered.

For the year ending 30 April 2021 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 year 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 .

Habodel 8 Limited

Balance sheet (continued)

30 April 2021

These financial statements were approved by the board of directors and authorised for issue on 28 April 2022 , and are signed on behalf of the board by:

Paul Morton

Director

Company registration number: 10148928

Habodel 8 Limited

Notes to the financial statements

year ended 30 April 2021

1. Statement of compliance

These financial statements have been prepared in compliance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared 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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exception: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3. Employee numbers

The average number of persons employed by the company during the year amounted to – (2020: –).

4. Tangible assets

	Land and buildings
	£

Cost or valuation
At 1 May 2020	21,413,000
Additions	2,929,787
Revaluations	1,417,213
	-------------
At 30 April 2021	25,760,000
	-------------
Depreciation
At 1 May 2020 and 30 April 2021	–
	-------------
Carrying amount
At 30 April 2021	25,760,000
	-------------
At 30 April 2020	21,413,000
	-------------

Included within the above is investment property as follows:

	£

At 1 May 2020	21,413,000
Additions	2,929,787
Fair value adjustments	1,417,213
	-------------
At 30 April 2021	25,760,000
	-------------

The investment properties are valued annually by the directors at fair value at the balance sheet date .

5. Debtors

	2021	2020
	£	£

Trade debtors	–	8,946
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	618,078
Other debtors	6,010	–
	-------	---------
	6,010	627,024
	-------	---------

6. Creditors: amounts falling due within one year

	2021	2020
	£	£

Bank loans and overdrafts	111,935	117,540
Trade creditors	20,760	24,619
Amounts owed to group undertakings and undertakings in which the company has a participating interest	8,484,464	8,052,221
	------------	------------
	8,617,159	8,194,380
	------------	------------

7. Creditors: amounts falling due after more than one year

	2021	2020
	£	£

Bank loans and overdrafts	13,990,749	12,384,926
	-------------	-------------

Included within creditors: amounts falling due after more than one year is an amount of £13,543,009 (2020: £11,914,765) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loans are secured against the properties of the company.

8. General information

The company is registered in England and its registered number is 10148928 . The company is a private company limited by shares. Its registered office is Habodel, Unit 1 Hayfield Business Park, Field Lane, Auckley. The Ultimate Parent Company is G2M Capital Limited.