Hambleden Capital Limited 10792991 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of being a financier and business angel investing Digita Accounts Production Advanced 6.30.9574.0 true false true true 10792991 2022-04-01 2023-03-31 10792991 2023-03-31 10792991 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 10792991 core:CurrentFinancialInstruments 2023-03-31 10792991 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10792991 core:Non-currentFinancialInstruments 2023-03-31 10792991 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10792991 core:CostValuation 2023-03-31 10792991 core:ProvisionsForImpairmentInvestments 2023-03-31 10792991 core:FurnitureFittingsToolsEquipment 2023-03-31 10792991 core:LandBuildings 2023-03-31 10792991 core:MotorVehicles 2023-03-31 10792991 core:OtherRelatedParties 2023-03-31 10792991 bus:SmallEntities 2022-04-01 2023-03-31 10792991 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10792991 bus:FullAccounts 2022-04-01 2023-03-31 10792991 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10792991 bus:RegisteredOffice 2022-04-01 2023-03-31 10792991 bus:Director1 2022-04-01 2023-03-31 10792991 bus:Director2 2022-04-01 2023-03-31 10792991 bus:Director3 2022-04-01 2023-03-31 10792991 bus:Director4 2022-04-01 2023-03-31 10792991 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-04-01 2023-03-31 10792991 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10792991 core:Buildings 2022-04-01 2023-03-31 10792991 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 10792991 core:LandBuildings 2022-04-01 2023-03-31 10792991 core:MotorVehicles 2022-04-01 2023-03-31 10792991 core:OtherRelatedParties 2022-04-01 2023-03-31 10792991 core:Subsidiary1 2022-04-01 2023-03-31 10792991 core:Subsidiary1 1 2022-04-01 2023-03-31 10792991 core:Subsidiary1 countries:EnglandWales 2022-04-01 2023-03-31 10792991 1 2022-04-01 2023-03-31 10792991 countries:AllCountries 2022-04-01 2023-03-31 10792991 2022-03-31 10792991 core:CostValuation 2022-03-31 10792991 core:ProvisionsForImpairmentInvestments 2022-03-31 10792991 core:FurnitureFittingsToolsEquipment 2022-03-31 10792991 core:LandBuildings 2022-03-31 10792991 core:MotorVehicles 2022-03-31 10792991 core:OtherRelatedParties 2022-03-31 10792991 2021-06-01 2022-03-31 10792991 2022-03-31 10792991 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-03-31 10792991 core:CurrentFinancialInstruments 2022-03-31 10792991 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 10792991 core:Non-currentFinancialInstruments 2022-03-31 10792991 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 10792991 core:FurnitureFittingsToolsEquipment 2022-03-31 10792991 core:LandBuildings 2022-03-31 10792991 core:MotorVehicles 2022-03-31 10792991 core:OtherRelatedParties 2022-03-31 10792991 core:OtherRelatedParties 2021-06-01 2022-03-31 10792991 core:Subsidiary1 1 2021-06-01 2022-03-31 10792991 2021-05-31 10792991 core:OtherRelatedParties 2021-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10792991

Hambleden Capital Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Hambleden Capital Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Hambleden Capital Limited

Company Information

Directors

Mr Ali Reza Sarikhani

Mr Nima Habibollah Sarikhani

Ms Ziba Christina Sarikhani

Mr John Stephen Dennis

Registered office

5 Wigmore Street
2nd Floor
London
England
W1U 1PB

Accountants

Charter Tax Consulting Limited
8th Floor
1 Southampton Street
London
United Kingdom
WC2R 0LR

 

Hambleden Capital Limited

(Registration number: 10792991)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

285,855

321,770

Investments

5

100

100

 

285,955

321,870

Current assets

 

Debtors

6

17,709,507

15,503,728

Cash at bank and in hand

 

921,172

238,254

 

18,630,679

15,741,982

Creditors: Amounts falling due within one year

7

(14,530,446)

(11,632,241)

Net current assets

 

4,100,233

4,109,741

Total assets less current liabilities

 

4,386,188

4,431,611

Creditors: Amounts falling due after more than one year

7

(3,460,781)

(3,360,767)

Net assets

 

925,407

1,070,844

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

925,405

1,070,842

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:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 28 March 2024 and signed on its behalf by:
 


Mr Nima Habibollah Sarikhani
Director


Mr John Stephen Dennis
Director

 
     
 

Hambleden Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5 Wigmore Street
London
W1U 1PB
England

These financial statements were authorised for issue by the Board on 28 March 2024.

2

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

The Company has taken advantage of s399(2) of the Companies Act 2006 from preparing group accounts on the basis that the Company heads a small group.

Disclosure of long or short period

The Company has a prior period of 10 months having changed its year end reporting date from the 31 May to 31 March, with the comparatives being presented to the period ended 31 March 2022. The current reporting period is for the year ended 31 March 2023.

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

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

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
The Company only enters into basic financial instruments which include: Trade debtors, loans receivable, trade creditors and loans payable.
 Recognition and measurement
Financial asset and liability debt instruments are measured at their fair value less transactions costs. Subsequently, the financial instrument is measured at amortised cost with the effective rate of interest being recognised in the profit and loss.
 

 

Hambleden Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 9 (2022 - 6).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 April 2022

248,978

211,559

46,285

506,822

Additions

53,911

6,363

83,847

144,121

Disposals

-

-

(83,847)

(83,847)

At 31 March 2023

302,889

217,922

46,285

567,096

Depreciation

At 1 April 2022

56,506

123,577

4,969

185,052

Charge for the year

21,916

63,944

10,329

96,189

At 31 March 2023

78,422

187,521

15,298

281,241

Carrying amount

At 31 March 2023

224,467

30,401

30,987

285,855

At 31 March 2022

192,472

87,982

41,316

321,770

 

Hambleden Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost

At 1 April 2022

100

At 31 March 2023

100

Provision

At 1 April 2022

-

At 31 March 2023

-

Carrying amount

At 31 March 2023

100

At 31 March 2022

100

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

     

2023

2022

Subsidiary undertakings

Swallowcliffe Finance Limited

5 Wigmore Street
London
W1U 1PB

England and Wales

Ordinary

100%

100%

Subsidiary undertakings

Swallowcliffe Finance Limited

The principal activity of Swallowcliffe Finance Limited is fund management activities.

 

Hambleden Capital Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

2023
£

2022
£

Trade debtors

101,280

-

Prepayments

130,585

142,578

Other debtors

17,477,642

15,361,150

 

17,709,507

15,503,728

Less non-current portion

(4,720,996)

(4,777,347)

12,988,511

10,726,381

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.

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

221,636

170,495

Loans and borrowings

8

7,163,798

-

Accruals

 

114,673

168,073

Taxation and social security

 

41,845

344,977

Other creditors

 

6,988,494

10,948,696

 

14,530,446

11,632,241

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
£

Due after one year

 

Loans and borrowings

8

3,460,781

3,360,767

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

6,560,028

-

Other borrowings

603,770

-

7,163,798

-

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

3,460,781

3,360,767

9

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 £738,674 (2022 - £1,256,285).

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

10

Share capital

Allotted, called up and not fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

11

Related party transactions

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

10,237,389

10,237,389

Advanced

2,744,585

2,744,585

Repaid

(7,520,606)

(7,520,606)

At end of period

5,461,368

5,461,368

2022

Other related parties
£

Total
£

At start of period

15,345,844

15,345,844

Advanced

10,007,673

10,007,673

Repaid

(15,116,128)

(15,116,128)

At end of period

10,237,389

10,237,389

Terms of loans from related parties

Loans from related parties are interest free and repayable on demand.