REGISTERED NUMBER: |
Financial Statements |
for the Period 1 August 2021 to 30 July 2022 |
for |
Hambleton Investments Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Period 1 August 2021 to 30 July 2022 |
for |
Hambleton Investments Limited |
Hambleton Investments Limited (Registered number: 08155775) |
Contents of the Financial Statements |
for the Period 1 August 2021 to 30 July 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Hambleton Investments Limited |
Company Information |
for the Period 1 August 2021 to 30 July 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
140 Coniscliffe Road |
DARLINGTON |
Co Durham |
DL3 7RT |
Hambleton Investments Limited (Registered number: 08155775) |
Balance Sheet |
30 July 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Hambleton Investments Limited (Registered number: 08155775) |
Balance Sheet - continued |
30 July 2022 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hambleton Investments Limited (Registered number: 08155775) |
Notes to the Financial Statements |
for the Period 1 August 2021 to 30 July 2022 |
1. | STATUTORY INFORMATION |
Hambleton Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
There were no material departures from that standard. |
The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. However, the validity of the going concern basis is dependent upon the continued support of the parent company. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse both fixed assets and long term liabilities as current assets and liabilities. |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income recognition |
Income is recognised as per the terms of the relevant lease agreements. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Hambleton Investments Limited (Registered number: 08155775) |
Notes to the Financial Statements - continued |
for the Period 1 August 2021 to 30 July 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Financial instruments |
Basic financial instruments are recognised at amortised cost with charges recognised in profit or loss. |
Income recognition |
Rental income is recognised in accordance with the contractual terms of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2021 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2021 |
and 30 July 2022 |
NET BOOK VALUE |
At 30 July 2022 |
At 31 July 2021 |
Fair value at 30 July 2022 is represented by: |
£ |
Valuation in 2018 | 463,000 |
Cost | 3,143,456 |
3,606,456 |
If investment property had not been revalued it would have been included at the following historical cost: |
2022 | 2021 |
£ | £ |
Cost | 3,143,456 | 3,143,456 |
Investment property was valued on an open market basis on 31 July 2022 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Prepayments and accrued income |
Hambleton Investments Limited (Registered number: 08155775) |
Notes to the Financial Statements - continued |
for the Period 1 August 2021 to 30 July 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Directors' current accounts | 230,261 | 230,261 |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
Amounts owed to related undertaking |
Accruals and deferred income |
8. | PROVISIONS FOR LIABILITIES |
2022 | 2021 |
£ | £ |
Deferred tax | 338,347 | 338,347 |
Deferred |
tax |
£ |
Balance at 1 August 2021 |
Balance at 30 July 2022 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
A Ordinary | £1 | 1 | 1 |
2 | 2 |
Hambleton Investments Limited (Registered number: 08155775) |
Notes to the Financial Statements - continued |
for the Period 1 August 2021 to 30 July 2022 |
10. | RELATED PARTY DISCLOSURES |
2022 | 2021 |
£ | £ |
Amounts due to related undertakings | - | 775,000 |
Amounts due to directors | 230,261 | 230,261 |
No interest has been charged. |
11. | ULTIMATE PARENT COMPANY |
The ultimate parent undertaking is Paignton Limited, a company incorporated in the United Kingdom. |