Registration number:
Hambleden Capital Limited
for the Year Ended 31 March 2023
Hambleden Capital Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Hambleden Capital Limited
Company Information
Directors |
Mr Ali Reza Sarikhani Mr Nima Habibollah Sarikhani Ms Ziba Christina Sarikhani Mr John Stephen Dennis |
Registered office |
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Accountants |
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Hambleden Capital Limited
(Registration number: 10792991)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
925,405 |
1,070,842 |
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Shareholders' funds |
925,407 |
1,070,844 |
Hambleden Capital Limited
(Registration number: 10792991)
Balance Sheet as at 31 March 2023
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:
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The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The Company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements have been prepared and presented in UK Pound Sterling (£).
Group accounts not prepared
Disclosure of long or short period
Going concern
The financial statements have been prepared on a going concern basis.
Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Judgements
There have been no significant judgements made by management in the preparation of these financial statements. |
Revenue recognition
Turnover comprises the value of interest receivable accrued, recharges receivable and dividends received by the Company in the ordinary course of its activities. Turnover is shown net of returns, rebates and discounts.
The Company recognises revenue when:
- The amount of revenue can be reliably measured; and
- it is probable that future economic benefits will flow to the entity; and
- specific criteria have been met for each of the company's activities.
Finance income and interest arising from financial asset debt instruments is presented in turnover as this comprises a significant activity of the Company's operations.
Finance income and costs policy
Finance and interest income is recognised on financial asset debts instruments, loans receivable, where the finance income is recognised using the effective rate of interest. Interest income comprises a significant operating activity for the Company therefore it is presented in turnover. An exception is made for finance income arising from loans adjusted to their fair value using the discounted future cash flows method where the adjustment and its subsequent unwinding are recognised in interest and other similar income.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
3 years straight line |
Short leasehold improvements |
Over the life of the lease |
Motor vehicles |
25% reducing balance |
Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Investments in subsidiaries are held at purchase cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
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.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments differ to the contribution due for service, the excess or deficit is recognised as an asset or liability.
Financial instruments
Classification
Recognition and measurement
Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost |
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At 1 April 2022 |
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Additions |
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Disposals |
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( |
( |
At 31 March 2023 |
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Depreciation |
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At 1 April 2022 |
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Charge for the year |
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At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost |
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At 1 April 2022 |
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At 31 March 2023 |
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Provision |
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At 1 April 2022 |
- |
At 31 March 2023 |
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Carrying amount |
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At 31 March 2023 |
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At 31 March 2022 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the Company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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5 Wigmore Street
England and Wales |
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Subsidiary undertakings |
Swallowcliffe Finance Limited The principal activity of Swallowcliffe Finance Limited is |
Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Less non-current portion |
( |
( |
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Other debtors include loans receivable of £16,673,181 (2022 - £15,134,602) of which £4,720,996 (2022 - £4,777,347) are receivable in more than one year.
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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Loans and borrowings |
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- |
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Accruals |
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Taxation and social security |
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Other creditors |
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Creditors include loans and borrowings which are secured of £6,556,904 (2022 - £Nil).
Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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- |
Other borrowings |
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- |
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- |
2023 |
2022 |
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Non-current loans and borrowings |
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Other borrowings |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Financial commitments are broken down as follows:
Commitments under loan agreements not drawn down by borrowers at the balance sheet date: £342,000 (2022 - £652,650)
Obligations under an office lease lasting for a minimum of 5 years - payable within 12 months: £206,960 (2022 - £206,960)
Obligations under an office lease lasting for a minimum of 5 years - payable over 12 months: £189,714 (2022 - £396,675)
Hambleden Capital Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Share capital |
Allotted, called up and not fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Related party transactions |
Loans from related parties
2023 |
Other related parties |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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2022 |
Other related parties |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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Terms of loans from related parties