Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-312023-04-01falseThe principal activities of the company throughout the year were the holding and rental of property00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07571775 2023-04-01 2024-07-31 07571775 2022-04-01 2023-03-31 07571775 2024-07-31 07571775 2023-03-31 07571775 2022-04-01 07571775 c:Director3 2023-04-01 2024-07-31 07571775 d:FurnitureFittings 2023-04-01 2024-07-31 07571775 d:FurnitureFittings 2024-07-31 07571775 d:FurnitureFittings 2023-03-31 07571775 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-07-31 07571775 d:OfficeEquipment 2023-04-01 2024-07-31 07571775 d:OfficeEquipment 2024-07-31 07571775 d:OfficeEquipment 2023-03-31 07571775 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-07-31 07571775 d:OwnedOrFreeholdAssets 2023-04-01 2024-07-31 07571775 d:FreeholdInvestmentProperty 2023-04-01 2024-07-31 07571775 d:FreeholdInvestmentProperty 2024-07-31 07571775 d:FreeholdInvestmentProperty 2023-03-31 07571775 d:CurrentFinancialInstruments 2024-07-31 07571775 d:CurrentFinancialInstruments 2023-03-31 07571775 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 07571775 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07571775 d:ShareCapital 2023-04-01 2024-07-31 07571775 d:ShareCapital 2024-07-31 07571775 d:ShareCapital 2023-03-31 07571775 d:ShareCapital 2022-04-01 07571775 d:CapitalRedemptionReserve 2023-04-01 2024-07-31 07571775 d:CapitalRedemptionReserve 2024-07-31 07571775 d:CapitalRedemptionReserve 2023-03-31 07571775 d:CapitalRedemptionReserve 2022-04-01 07571775 d:OtherMiscellaneousReserve 2023-04-01 2024-07-31 07571775 d:OtherMiscellaneousReserve 2024-07-31 07571775 d:OtherMiscellaneousReserve 2023-03-31 07571775 d:OtherMiscellaneousReserve 2022-04-01 07571775 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-07-31 07571775 d:RetainedEarningsAccumulatedLosses 2024-07-31 07571775 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 07571775 d:RetainedEarningsAccumulatedLosses 2023-03-31 07571775 d:RetainedEarningsAccumulatedLosses 2022-04-01 07571775 c:OrdinaryShareClass1 2023-04-01 2024-07-31 07571775 c:OrdinaryShareClass1 2024-07-31 07571775 c:OrdinaryShareClass1 2023-03-31 07571775 c:OrdinaryShareClass2 2023-04-01 2024-07-31 07571775 c:OrdinaryShareClass2 2023-03-31 07571775 c:FRS102 2023-04-01 2024-07-31 07571775 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-07-31 07571775 c:FullAccounts 2023-04-01 2024-07-31 07571775 c:PrivateLimitedCompanyLtd 2023-04-01 2024-07-31 07571775 2 2023-04-01 2024-07-31 07571775 e:PoundSterling 2023-04-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07571775










HOULTS ENTERPRISES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 JULY 2024

 
HOULTS ENTERPRISES LIMITED
REGISTERED NUMBER: 07571775

BALANCE SHEET
AS AT 31 JULY 2024

31 July
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
33,146

Investment property
 5 
-
1,458,300

  
-
1,491,446

Current assets
  

Debtors: amounts falling due within one year
 6 
1
38,505

Cash at bank and in hand
 7 
-
1,443,662

  
1
1,482,167

Creditors: amounts falling due within one year
 8 
-
(117,788)

Net current assets
  
 
 
1
 
 
1,364,379

Total assets less current liabilities
  
1
2,855,825

Provisions for liabilities
  

Deferred tax
  
-
(155,277)

  
 
 
-
 
 
(155,277)

Net assets
  
1
2,700,548


Capital and reserves
  

Called up share capital 
 9 
1
1,800

Capital redemption reserve
 10 
-
500

Other reserves
 10 
-
619,548

Profit and loss account
 10 
-
2,078,700

  
1
2,700,548


Page 1

 
HOULTS ENTERPRISES LIMITED
REGISTERED NUMBER: 07571775
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2024.




A K Hoult
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
HOULTS ENTERPRISES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 JULY 2024


Called up share capital
Capital redemption reserve
Other reserves
Profit and loss account
Total equity

£
£
£
£
£


At 1 April 2022
1,800
500
619,548
2,009,298
2,631,146



Profit for the year
-
-
-
114,402
114,402

Dividends: Equity capital
-
-
-
(45,000)
(45,000)



At 1 April 2023
1,800
500
619,548
2,078,700
2,700,548



Profit for the period
-
-
-
199,888
199,888

Dividends: Equity capital
-
-
-
(2,899,135)
(2,899,135)

Paid up shares cancelled during the period
-
-
-
499
499

Shares cancelled during the period
(1,799)
-
-
-
(1,799)

Transfer to profit and loss account
-
(500)
(619,548)
620,048
-


At 31 July 2024
1
-
-
-
1


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
HOULTS ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.


General information

Hoults Enterprises Limited is a private company limited by shares incorporated in England and Wales. The company's registered office is Maling Exchange, Hoults Yard, Walker Road, Newcastle upon Tyne, NE6 2HL. The company number is 07571775.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

On 30 June 2023 the board approved a Group reorganisation. 
As a result of a Group reorganisation the properties of Hoults Enterprises Limited were acquired by a fellow subsidiary Hoults Limited for an aggregate sum of £1,478,300, along with other tangible fixed assets totaling £36,532.
The trade of Hoults Enterprises Limited will therefore continue within the Hoults Limited trading entity. 
Consequently, these financial statements have been prepared on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
HOULTS ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
HOULTS ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
5 year straight line basis
Office equipment
-
15 year straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
HOULTS ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.13

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.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

The average monthly number of employees, including directors, during the period was 0 (2023 - 0).

Page 7

 
HOULTS ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

4.


Tangible fixed assets







Fixtures and fittings
Office equipment
Total

£
£
£





At 1 April 2023
194,969
38,845
233,814


Additions
6,006
-
6,006


Disposals
(200,975)
(38,845)
(239,820)



At 31 July 2024

-
-
-





At 1 April 2023
190,541
10,127
200,668


Charge for the period on owned assets
1,126
648
1,774


Disposals
(191,667)
(10,775)
(202,442)



At 31 July 2024

-
-
-



Net book value



At 31 July 2024
-
-
-



At 31 March 2023
4,428
28,718
33,146


5.


Investment property





Freehold investment property

£





At 1 April 2023
1,458,300


Disposals
(1,458,300)



At 31 July 2024
-





Page 8

 
HOULTS ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

6.


Debtors

31 July
31 March
2024
2023
£
£


Trade debtors
-
32,827

Amounts owed by group undertakings
1
-

Called up share capital not paid
-
1,300

Prepayments and accrued income
-
4,378

1
38,505



7.


Cash and cash equivalents

31 July
31 March
2024
2023
£
£

Cash at bank and in hand
-
1,443,662

-
1,443,662



8.


Creditors: Amounts falling due within one year

31 July
31 March
2024
2023
£
£

Trade creditors
-
14,709

Corporation tax
-
26,942

Other taxation and social security
-
10,637

Other creditors
-
25,387

Accruals and deferred income
-
40,113

-
117,788


Page 9

 
HOULTS ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

9.


Share capital

31 July
31 March
2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 5,000) A Ordinary shares of £0.10 each
1
500

Allotted, called up and partly paid



0 (2023 - 8,500) A Ordinary shares of £0.10 each
-
850
0 (2023 - 4,500) B Ordinary shares of £0.10 each
-
450

-

1,300

During the period the board approved the cancellation of 13,940 A Ordinary shares and 4,500 B Ordinary shares of £0.10 each.



10.


Reserves

Capital redemption reserve

The reserve records the nominal value of shares repurchased by the company.
During the period the board approved a reduction of capital and the transfer of the capital redemption reserve to the profit and loss reserve.

Other reserves

This reserve records the total capital contributions received by the company.
During the period the board approved a reduction of capital and the transfer of the other reserve to the profit and loss reserve.

Profit and loss account

This reserve includes all current and prior period profits and losses net of distributions to shareholders.
During the period the board approved a reduction of capital and the transfer of the capital redemption reserve and other reserve to the profit and loss reserve.

Page 10

 
HOULTS ENTERPRISES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

11.


Related party transactions

On 30 June 2023 the board approved a Group reorganisation. 
Hoults Enterprises Limited became a wholly owned subsidiary of Hoults Holdings Limited a private company limited by shares incorporated in England and Wales. Hoults Holdings Limited's registered office is Maling Exchange, Hoults Yard, Walker Road, Newcastle upon Tyne, NE6 2HL and the company number is 07571754.  
As a result of a Group reorganisation the properties of Hoults Enterprises Limited were acquired by a fellow subsidiary Hoults Limited for an aggregate sum of £1,478,300, along with other tangible fixed assets totalling £36,532.
During the period £3,600 (2023 - £14,400) of management charges along with recharged insurance costs of £974 (2023 - £5,130) were paid to Hoults Limited.
During the period there was a £200,000 group loan made to Hoults Holdings Limited included within debtors.
During the period dividends were paid to Hoults Holdings Limited the sole shareholder for £2,899,135.

 
Page 11