ACCOUNTS - Final Accounts

HASEL PROPERTY LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-311The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.12022-04-01falseThe principal activity of the company is that of holding investment property.truetrue 11885996 2022-04-01 2023-03-31 11885996 2021-04-01 2022-03-31 11885996 2023-03-31 11885996 2022-03-31 11885996 c:Director1 2022-04-01 2023-03-31 11885996 d:FreeholdInvestmentProperty 2023-03-31 11885996 d:FreeholdInvestmentProperty 2022-03-31 11885996 d:CurrentFinancialInstruments 2023-03-31 11885996 d:CurrentFinancialInstruments 2022-03-31 11885996 d:Non-currentFinancialInstruments 2023-03-31 11885996 d:Non-currentFinancialInstruments 2022-03-31 11885996 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11885996 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11885996 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11885996 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11885996 d:ShareCapital 2023-03-31 11885996 d:ShareCapital 2022-03-31 11885996 d:RetainedEarningsAccumulatedLosses 2023-03-31 11885996 d:RetainedEarningsAccumulatedLosses 2022-03-31 11885996 c:FRS102 2022-04-01 2023-03-31 11885996 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11885996 c:FullAccounts 2022-04-01 2023-03-31 11885996 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11885996 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 11885996

HASEL PROPERTY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

HASEL PROPERTY LIMITED

REGISTERED NUMBER: 11885996

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Investments	4		99		99
Investment property	5		4,000,000		4,000,000
			4,000,099		4,000,099
Current assets
Debtors: amounts falling due within one year	6	1		1
Creditors: amounts falling due within one year	7	(168,225)		(105,669)
Net current liabilities			(168,224)		(105,668)
Total assets less current liabilities			3,831,875		3,894,431
Creditors: amounts falling due after more than one year	8		(4,000,000)		(4,000,000)

Net liabilities			(168,125)		(105,569)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(168,225)	(105,669)
	(168,125)	(105,569)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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HASEL PROPERTY LIMITED

REGISTERED NUMBER: 11885996

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 December 2023.

F Hmood

Director

The notes on pages 3 to 6 form part of these financial statements.

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HASEL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

The company is a private company limited by shares, incorporated in England and Wales, registration number 11885996. The address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

Although the net asset position is negative at the year end, this includes a loan from the subsidiary undertaking of £3,261,947. This subsidiary will continue to provide financial support to the parent company, and therefore the company is considered to be a going concern.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.5

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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HASEL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

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HASEL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost
	At 1 April 2022	99
	At 31 March 2023	99

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2022	4,000,000
	At 31 March 2023	4,000,000

The 2023 valuations were made by the director, on an open market value basis and were not materially different to the acquisition cost and so no revalutation is necessary.

Debtors

					2023	2022
					£	£


Called up share capital not paid	1	1

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HASEL PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

7.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Trade creditors	510	510
Corporation tax	1,200	200
Other creditors	65,922	38,997
Accruals and deferred income	100,593	65,962
	168,225	105,669

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

	Other loans	4,000,000	4,000,000

Included within creditors due after more than one year is a balance of £3,261,947 (2022: £3,261,947) due to a subsidiary undertaking. This amount is unsecured and no interest is charged.

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