HAR Developments Limited Accounts

HAR DEVELOPMENTS LIMITED - Company Information






	HAR Developments Limited
	Company No. 10769214
	Information for Filing with The Registrar
	31 May 2023

at	31 May 2023
Company No.		10769214	Notes	2023	2022
				£	£
Fixed assets

	Tangible assets		4	2,684	3,232
	Investment property		5	1,304,945	1,304,945

				1,307,629	1,308,177
Current assets

	Debtors		6	111,490	296,554

	Cash at bank and in hand			31,674	43,344
				143,164	339,898
Creditors: Amount falling due within one year			7	(23,491)	(84,982)
Net current assets				119,673	254,916
Total assets less current liabilities				1,427,302	1,563,093
Creditors: Amounts falling due after more than one year			8	(1,008,966)	(1,109,849)
Provisions for liabilities
	Deferred taxation		9	(83)	(83)

Net assets				418,253	453,161

Capital and reserves
	Called up share capital			10	10



	Profit and loss account		10	418,243	453,151

Total equity				418,253	453,161



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 2023 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 2023

And signed on its behalf by:
T. Brett
Director
31 May 2023

for the year ended 31 May 2023

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

33% Reducing Balance

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.

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.

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
			2023	2022
			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 2022	5,785	5,785
		Additions	2,031	2,031



		At 31 May 2023	7,816	7,816
		Depreciation
		At 1 June 2022	2,553	2,553
		Charge for the year	2,579	2,579



		At 31 May 2023	5,132	5,132
		Net book values
		At 31 May 2023	2,684	2,684
		At 31 May 2022	3,232	3,232

5	Investment property
			Freehold Investment Property
			£
		Valuation
		At 1 June 2022	1,304,945



		At 31 May 2023	1,304,945

6	Debtors
			2023	2022
			£	£

		Amounts owed by group undertakings	110,451	295,515
		Corporation tax recoverable	1,039	1,039





			111,490	296,554

7	Creditors amounts falling due within one year:
			2023	2022
			£	£




		Trade creditors	1,090	203


		Other taxes and social security	-	940
		Loans from directors	637	81,339

		Accruals and deferred income	21,764	2,500
			23,491	84,982

8	Creditors amounts falling due after more than one year:
			2023	2022
			£	£

		Bank loans and overdrafts	1,008,966	1,109,849






			1,008,966	1,109,849

9	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 June 2022	83	83


		At 31 May 2023	83	83



			2023	2022
			£	£


		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
			2023	2022
			£	£
		Dividends for the period:
		Dividends paid in the period	16,000	-

			16,000	-

		Dividends by type:

		Equity dividends	16,000	-
			16,000	-

Related party disclosures

At the balance sheet date £637 was owed to the director by the company.

Controlling party

Immediate controlling party

No single party controls the company