Silverfin false 31/03/2023 01/04/2022 31/03/2023 J S Ellis 19/11/2012 D M Kyte 19/11/2012 08 March 2024 The principal activity of the company during the financial year was that of the development of property for sale. 08297675 2023-03-31 08297675 bus:Director1 2023-03-31 08297675 bus:Director2 2023-03-31 08297675 2022-03-31 08297675 core:CurrentFinancialInstruments 2023-03-31 08297675 core:CurrentFinancialInstruments 2022-03-31 08297675 core:ShareCapital 2023-03-31 08297675 core:ShareCapital 2022-03-31 08297675 core:RetainedEarningsAccumulatedLosses 2023-03-31 08297675 core:RetainedEarningsAccumulatedLosses 2022-03-31 08297675 core:LandBuildings 2022-03-31 08297675 core:LandBuildings 2023-03-31 08297675 core:CostValuation 2022-03-31 08297675 core:CostValuation 2023-03-31 08297675 bus:OrdinaryShareClass1 2023-03-31 08297675 bus:OrdinaryShareClass2 2023-03-31 08297675 2022-04-01 2023-03-31 08297675 bus:FullAccounts 2022-04-01 2023-03-31 08297675 bus:SmallEntities 2022-04-01 2023-03-31 08297675 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08297675 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08297675 bus:Director1 2022-04-01 2023-03-31 08297675 bus:Director2 2022-04-01 2023-03-31 08297675 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 08297675 2021-04-01 2022-03-31 08297675 core:LandBuildings 2022-04-01 2023-03-31 08297675 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08297675 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 08297675 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 08297675 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 08297675 1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08297675 (England and Wales)

HAMILTON COURT DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

HAMILTON COURT DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

HAMILTON COURT DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
HAMILTON COURT DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investments 4 10 10
10 10
Current assets
Stocks 925,000 1,091,983
Debtors 5 844,511 784,117
Cash at bank and in hand 17,840 75,803
1,787,351 1,951,903
Creditors: amounts falling due within one year 6 ( 657,520) ( 675,802)
Net current assets 1,129,831 1,276,101
Total assets less current liabilities 1,129,841 1,276,111
Net assets 1,129,841 1,276,111
Capital and reserves
Called-up share capital 7 200 200
Profit and loss account 1,129,641 1,275,911
Total shareholders' funds 1,129,841 1,276,111

For the financial year ending 31 March 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 Hamilton Court Developments Limited (registered number: 08297675) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D M Kyte
Director
J S Ellis
Director

08 March 2024

HAMILTON COURT DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
HAMILTON COURT DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Hamilton Court Developments 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

The principal activity of the company is the development of property for sale.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

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 Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 April 2022 345,893 345,893
Disposals ( 345,893) ( 345,893)
At 31 March 2023 0 0
Accumulated depreciation
At 01 April 2022 345,893 345,893
Disposals ( 345,893) ( 345,893)
At 31 March 2023 0 0
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 April 2022 10
At 31 March 2023 10
Carrying value at 31 March 2023 10
Carrying value at 31 March 2022 10

5. Debtors

2023 2022
£ £
Trade debtors 4,971 1,415
Amounts owed by Group undertakings 23,477 8,227
Other debtors 816,063 774,475
844,511 784,117

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 9,205 372
Amounts owed to Group undertakings 582,427 606,933
Accruals 6,160 5,604
Taxation and social security 13,399 18,092
Other creditors 46,329 44,801
657,520 675,802

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
150 Ordinary A shares of £ 1.00 each 150 150
50 Ordinary B shares of £ 1.00 each 50 50
200 200

8. Director's advances, credits and guarantees

Included within other debtors is a balance of £13,951(2022: £6780) owed by the director. This balance is unsecured and interest is charged at HMRC's approved rate with no fixed repayment terms. This balance was cleared after the year end.

9. Ultimate controlling party

Parent Company:

Kyte Property Limited
Registered office: 35 Ballards Lane, London, N3 1XW

Principal place of business: 103 Wigmore Street, London, W1U 1QW