| Haynes Estates Limited |
| Registered number: |
00588703 |
| Balance Sheet |
| as at 31 March 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
10,700 |
|
|
10,700 |
|
| Current assets |
| Debtors |
4 |
|
292,860 |
|
|
296,760 |
| Cash at bank and in hand |
|
|
5,947 |
|
|
7,778 |
|
|
|
298,807 |
|
|
304,538 |
|
| Creditors: amounts falling due within one year |
5 |
|
(530) |
|
|
(5,903) |
|
| Net current assets |
|
|
|
298,277 |
|
|
298,635 |
|
| Total assets less current liabilities |
|
|
|
308,977 |
|
|
309,335 |
|
|
| Provisions for liabilities |
|
|
|
(1,737) |
|
|
(1,737) |
|
|
| Net assets |
|
|
|
307,240 |
|
|
307,598 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Revaluation reserve |
6 |
|
|
9,481 |
|
|
9,481 |
| Profit and loss account |
|
|
|
297,757 |
|
|
298,115 |
|
| Shareholder's funds |
|
|
|
307,240 |
|
|
307,598 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr C. Leigh-Pemberton |
| Director |
| Approved by the board on 16 November 2023 |
|
| Haynes Estates Limited |
| Notes to the Accounts |
| for the year ended 31 March 2023 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes rents receivable which fall due and lease extension premiums received during the period of these accounts.
|
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
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 tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 April 2022 |
10,700 |
|
At 31 March 2023 |
10,700 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2023 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2023 |
10,700 |
|
At 31 March 2022 |
10,700 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2023 |
|
2022 |
| £ |
£ |
|
Historical cost |
1,560 |
|
1,560 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
1,560 |
|
1,560 |
|
|
|
|
|
|
|
|
|
|
The valuations of investment properties was made at the 31 March 2002 by Messrs Allsop & Co, Chartered Surveyors, on an open market basis. No depreciation is provided in respect of these properties.
This valuation took place prior to the shares in the company being acquired by SW12 Ltd. |
|
|
| 4 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
292,760 |
|
296,760 |
|
Other debtors |
100 |
|
- |
|
|
|
|
|
|
292,860 |
|
296,760 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Corporation tax |
- |
|
5,373 |
|
Other creditors |
530 |
|
530 |
|
|
|
|
|
|
530 |
|
5,903 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Revaluation reserve |
2023 |
|
2022 |
| £ |
£ |
|
|
At 1 April 2022 |
9,481 |
|
14,831 |
|
Loss on revaluation of land and buildings |
- |
|
(5,350) |
|
|
At 31 March 2023 |
9,481 |
|
9,481 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
2017 |
|
2016 |
| £ |
£ |
|
|
SW12 Limited |
|
SW12 Limited owns 100% of the issued share capital of Haynes Estates Limited. During the year SW12 Limited charged the company management fees of £Nil, at arms length. |
|
Interest free loan |
|
Amount due from the related party |
86,336 |
|
86,336 |
|
|
Agavil Investments Limited |
|
Amount due from the related party |
27,580 |
|
27,580 |
|
|
Amount due from the related party |
178,844 |
|
182,844 |
|
|
|
|
|
|
292,760 |
|
296,760 |
|
|
|
|
|
|
|
|
|
|
The directors are satisfied that the company is exempt from the requirement to prepare group accounts under section 399 of the Companies Act 2006 as such consolidated accounts have not been prepared. |
|
|
| 8 |
Controlling party |
|
|
The ultimate controlling party throughout the period was Mr L Carr, a director and Mr C Leigh-Pemberton, a director who equally own 100% of the issued share capital of SW12 Ltd as follows:
Mr L Carr, a director, is also the director of SW12 Limited and owns 50% of the issued share capital of SW12 Limited.
Mr C Leigh-Pemberton, a director, is also a director of SW12 Limited and owns 50% of the issued share capital of SW12 Limited.
Haynes Estates Limited is a 100% wholly owned subsidiary of SW12 Limited.
|
|
|
| 9 |
Other information |
|
|
Haynes Estates Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
3 Holmer Terrace |
|
Holmer |
|
Hereford |
|
HR4 9RH |
