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REGISTERED NUMBER: SC711954 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

HCI Holdings Limited

HCI Holdings Limited (Registered number: SC711954)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


HCI Holdings Limited (Registered number: SC711954)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,004,770 1,022,132

CURRENT ASSETS
Debtors 5 90 90
Cash at bank 4,091 -
4,181 90
CREDITORS
Amounts falling due within one year 6 (559,987 ) (414,373 )
NET CURRENT LIABILITIES (555,806 ) (414,283 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,964

607,849

CREDITORS
Amounts falling due after more than one
year

7

(446,440

)

(607,757

)
NET ASSETS 2,524 92

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 2,434 2
2,524 92

HCI Holdings Limited (Registered number: SC711954)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2024 and were signed on its behalf by:




Mr A Davis - Director Mr R Davis - Director




Mr D Davis - Director


HCI Holdings Limited (Registered number: SC711954)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

HCI Holdings Limited is a private company, limited by shares, domiciled in Scotland, registration number SC711954. The registered office is Inveralmond Place, Inveralmond Industrial Estate, Perth, Scotland, PH1 3TS.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 60 years

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

HCI Holdings Limited (Registered number: SC711954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Long
leasehold
£   
COST
At 1 January 2023
and 31 December 2023 1,041,730
DEPRECIATION
At 1 January 2023 19,598
Charge for year 17,362
At 31 December 2023 36,960
NET BOOK VALUE
At 31 December 2023 1,004,770
At 31 December 2022 1,022,132

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 90 90

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to related parties 455,436 281,730
Taxation and social security 4,643 24,067
Other creditors 99,908 108,576
559,987 414,373

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 446,440 607,757

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal - 90,453

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Other loans 463,348 633,333

Other loans are secured by way of a standard security over the long leasehold assets.

HCI Holdings Limited (Registered number: SC711954)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. RELATED PARTY DISCLOSURES

Amounts due - 2023: £455,436 (2022: £281,730). Rent received from related party - 2023: £121,250 (2022: £155,750).