Silverfin false 30/04/2023 01/05/2022 30/04/2023 A M Hill Mrs P Hill S A Hill 01/11/2000 M Raisey 01/11/2000 R C Raisey FCCA 31 October 2023 The principal activity of the Company during the financial year was provision of services to its subsidiary undertaking. 02043323 2023-04-30 02043323 bus:Director3 2023-04-30 02043323 bus:Director4 2023-04-30 02043323 2022-04-30 02043323 core:CurrentFinancialInstruments 2023-04-30 02043323 core:CurrentFinancialInstruments 2022-04-30 02043323 core:ShareCapital 2023-04-30 02043323 core:ShareCapital 2022-04-30 02043323 core:CapitalRedemptionReserve 2023-04-30 02043323 core:CapitalRedemptionReserve 2022-04-30 02043323 core:RetainedEarningsAccumulatedLosses 2023-04-30 02043323 core:RetainedEarningsAccumulatedLosses 2022-04-30 02043323 core:CostValuation 2022-04-30 02043323 core:CostValuation 2023-04-30 02043323 2022-05-01 2023-04-30 02043323 bus:FullAccounts 2022-05-01 2023-04-30 02043323 bus:SmallEntities 2022-05-01 2023-04-30 02043323 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 02043323 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 02043323 bus:Director1 2022-05-01 2023-04-30 02043323 bus:Director2 2022-05-01 2023-04-30 02043323 bus:Director3 2022-05-01 2023-04-30 02043323 bus:Director4 2022-05-01 2023-04-30 02043323 bus:Director5 2022-05-01 2023-04-30 02043323 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure

Company No: 02043323 (England and Wales)

HOVELANDS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

HOVELANDS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

HOVELANDS LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2023
HOVELANDS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2023
DIRECTORS A M Hill
Mrs P Hill
S A Hill
M Raisey
R C Raisey FCCA
SECRETARY R C Raisey FCCA
REGISTERED OFFICE 11 High Street
Taunton
Somerset
TA1 3PQ
United Kingdom
COMPANY NUMBER 02043323 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
HOVELANDS LIMITED

BALANCE SHEET

As at 30 April 2023
HOVELANDS LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 772,386 772,386
772,386 772,386
Current assets
Cash at bank and in hand 1,382 7,694
1,382 7,694
Creditors: amounts falling due within one year 4 ( 555,228) ( 566,670)
Net current liabilities (553,846) (558,976)
Total assets less current liabilities 218,540 213,410
Net assets 218,540 213,410
Capital and reserves
Called-up share capital 10,000 10,000
Capital redemption reserve 60,000 60,000
Profit and loss account 148,540 143,410
Total shareholders' funds 218,540 213,410

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hovelands Limited (registered number: 02043323) were approved and authorised for issue by the Board of Directors on 31 October 2023. They were signed on its behalf by:

S A Hill
Director
M Raisey
Director
HOVELANDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
HOVELANDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hovelands Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 11 High Street, Taunton, Somerset, TA1 3PQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 6

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 May 2022 772,386
At 30 April 2023 772,386
Carrying value at 30 April 2023 772,386
Carrying value at 30 April 2022 772,386

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 359,937 310,574
Other taxation and social security 250 0
Other creditors 195,041 256,096
555,228 566,670