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REGISTERED NUMBER: 11656088 (England and Wales)






HGC INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






HGC INVESTMENTS LTD (REGISTERED NUMBER: 11656088)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HGC INVESTMENTS LTD

COMPANY INFORMATION
for the year ended 30 November 2023







DIRECTORS: A M Clack
Mrs E J Clack





REGISTERED OFFICE: 100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB





REGISTERED NUMBER: 11656088 (England and Wales)





ACCOUNTANTS: Weatherer Bailey Bragg
Chartered Accountants
100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB

HGC INVESTMENTS LTD (REGISTERED NUMBER: 11656088)

BALANCE SHEET
30 November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 18,026,534 15,221,545

CURRENT ASSETS
Debtors 5 521,557 301,872
Cash at bank 2,034,701 4,534,681
2,556,258 4,836,553
CREDITORS
Amounts falling due within one year 6 16,196,975 16,882,500
NET CURRENT LIABILITIES (13,640,717 ) (12,045,947 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,385,817

3,175,598

PROVISIONS FOR LIABILITIES 797,020 518,197
NET ASSETS 3,588,797 2,657,401

CAPITAL AND RESERVES
Called up share capital 8 1 1
Fair value reserve 9 2,636,461 1,795,931
Retained earnings 9 952,335 861,469
SHAREHOLDERS' FUNDS 3,588,797 2,657,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

HGC INVESTMENTS LTD (REGISTERED NUMBER: 11656088)

BALANCE SHEET - continued
30 November 2023


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 1 August 2024 and were signed on its behalf by:





A M Clack - Director


HGC INVESTMENTS LTD (REGISTERED NUMBER: 11656088)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 November 2023

1. STATUTORY INFORMATION

HGC Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

As at the 30 November 2023, the balance sheet reflects net current liabilities amounting to £13,640,717. However included within creditors due within one year is £8,174,353 due to the parent company and £6,218,250 due to a fellow subsidiary. Both the parent company and fellow subsidiary have given their assurances that they will continue to support the company and will not request repayment of the balances until other creditors have been settled. As such the directors consider the going concern basis of preparation to be appropriate.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Income
Interest income is recognised in the income statement in the period to which it relates. Dividend income is recognised as the company's right to receive payment is established.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

HGC INVESTMENTS LTD (REGISTERED NUMBER: 11656088)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Investments
Investments are recognised initially at cost which is normally the transaction price including transaction costs. Subsequently, they are measured at fair value through the income statement if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

The investment in the Prudential Investment Plan is valued be reference to the unit price at the year end with the fair value adjustment through the income statement.

The investments in the Barclays advisory and discretionary portfolios comprise of a number of investments in cash, short term maturity bonds, developed government bonds, investment grade bonds, high yield and emerging market bonds, developed market equities, emerging market equity, commodities, real estate, alternative trading strategies and multi class and other investments. The cash balances are reflected under cash and bank and are recorded at transaction price. The other classes of investment are reflected under other investments, the portfolio is valued by reference to the market values provided in the investment report at the balance sheet date with the fair value adjustment through the income statement. Deferred tax is reserved accordingly on the Barclays investments fair value gains.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Investment
£   
COST OR VALUATION
At 1 December 2022 15,221,545
Additions 5,014,077
Disposals (3,356,472 )
Revaluations 1,147,384
At 30 November 2023 18,026,534
NET BOOK VALUE
At 30 November 2023 18,026,534
At 30 November 2022 15,221,545

Cost or valuation at 30 November 2023 is represented by:

Investment
£   
Valuation in 2019 377,249
Valuation in 2020 1,904,808
Valuation in 2021 1,739,623
Valuation in 2022 (1,707,551 )
Valuation in 2023 1,119,352
Cost 14,593,053
18,026,534

HGC INVESTMENTS LTD (REGISTERED NUMBER: 11656088)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Other debtors 490,000 290,000
Prepayments and accrued income 31,557 11,872
521,557 301,872

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade creditors 271 -
Amounts owed to group undertakings 14,412,603 15,040,353
Corporation tax payable (25,890 ) 109,380
Other creditors 1,500,000 1,500,000
Directors' loan accounts 302,000 225,000
Accrued expenses 7,991 7,767
16,196,975 16,882,500

7. SECURED DEBTS

Bank loans are secured by way of a charge over the company's investment portfolios.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/11/23 30/11/22
value: £    £   
1 Ordinary £1 1 1

9. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 December 2022 861,469 1,795,931 2,657,400
Profit for the year 931,395 931,395
Transfer between reserves (840,529 ) 840,530 1
At 30 November 2023 952,335 2,636,461 3,588,796

HGC INVESTMENTS LTD (REGISTERED NUMBER: 11656088)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 November 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30/11/23 30/11/22
£    £   
A M Clack and Mrs E J Clack
Balance outstanding at start of year (225,000 ) -
Amounts advanced 367,000 -
Amounts repaid (444,000 ) (225,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (302,000 ) (225,000 )

No interest is charged on loans from directors. Amounts are repayable on demand.

11. PARENT COMPANY

A M Clack Limited, a company registered in England & Wales is regarded as the parent company. The registered office address for A M Clack Limited is 100 Boldmere Road, Sutton Coldfield, West Midlands, B73 5UB.