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01/01/2023
31/12/2023
2023-12-31
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No description of principal activities is disclosed
2023-01-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
01314687
2023-01-01
2023-12-31
01314687
2023-12-31
01314687
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01314687
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2022-12-31
01314687
2022-12-31
01314687
2021-12-31
01314687
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2023-12-31
01314687
core:Subsidiary2
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2023-12-31
01314687
bus:RegisteredOffice
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01314687
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01314687
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01314687
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01314687
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01314687
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2023-12-31
01314687
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2022-12-31
01314687
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2023-12-31
01314687
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2022-12-31
01314687
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2023-12-31
01314687
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2022-12-31
01314687
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2023-12-31
01314687
core:RetainedEarningsAccumulatedLosses
2022-12-31
01314687
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core:OwnedOrFreeholdAssets
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2023-12-31
01314687
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2023-12-31
01314687
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2023-12-31
01314687
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2022-12-31
01314687
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2022-12-31
01314687
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01314687
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2023-12-31
01314687
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2022-01-01
2022-12-31
01314687
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2023-12-31
01314687
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2022-12-31
01314687
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2023-12-31
01314687
core:Subsidiary2
2022-12-31
Company registration number:
01314687
Hambleton Bard International Limited
Unaudited filleted financial statements
31 December 2023
Hambleton Bard International Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Hambleton Bard International Limited
Directors and other information
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Director |
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Mrs J. D. Wint |
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Company number |
01314687 |
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Registered office |
Cobnar Wood Close |
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Chesterfield Trading Estate |
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Chesterfield |
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Derbyshire |
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S41 9RQ |
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Business address |
Cobnar Wood Close |
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Chesterfield Trading Estate |
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Chesterfield |
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Derbyshire |
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S41 9RQ |
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Accountants |
Henry Bramall & Co Limited |
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Unit 8 Acorn Business Park |
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Woodseats Close |
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Sheffield |
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S8 0TB |
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Bankers |
Royal Bank of Scotland |
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2 Stephenson Place |
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Chesterfield |
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S40 1LX |
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Hambleton Bard International Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Hambleton Bard International Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hambleton Bard International Limited for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Hambleton Bard International Limited, as a body, in accordance with the terms of our engagement letter dated 8 August 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Hambleton Bard International Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hambleton Bard International Limited and its director as a body for our work or for this report.
It is your duty to ensure that Hambleton Bard International Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hambleton Bard International Limited. You consider that Hambleton Bard International Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hambleton Bard International Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Henry Bramall & Co Limited
Chartered Certified Accountants
Unit 8 Acorn Business Park
Woodseats Close
Sheffield
S8 0TB
30 August 2024
Hambleton Bard International Limited
Statement of financial position
31 December 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
247,356 |
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269,842 |
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Investments |
|
6 |
630,001 |
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630,001 |
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|
_______ |
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_______ |
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877,357 |
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899,843 |
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Current assets |
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Debtors |
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7 |
2,626,366 |
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2,135,044 |
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Cash at bank and in hand |
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32,471 |
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30,123 |
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_______ |
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_______ |
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2,658,837 |
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2,165,167 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
324,102) |
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(
124,593) |
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_______ |
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_______ |
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Net current assets |
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2,334,735 |
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2,040,574 |
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_______ |
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_______ |
Total assets less current liabilities |
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3,212,092 |
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2,940,417 |
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Creditors: amounts falling due |
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after more than one year |
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9 |
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(
86,040) |
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(
188,857) |
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_______ |
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_______ |
Net assets |
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3,126,052 |
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2,751,560 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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999 |
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999 |
Profit and loss account |
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3,125,053 |
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2,750,561 |
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_______ |
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_______ |
Shareholders funds |
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3,126,052 |
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2,751,560 |
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_______ |
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_______ |
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
30 August 2024
, and are signed on behalf of the board by:
Mrs J. D. Wint
Director
Company registration number:
01314687
Hambleton Bard International Limited
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Cobnar Wood Close, Chesterfield Trading Estate, Chesterfield, Derbyshire, S41 9RQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible assets
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Freehold property |
Total |
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£ |
£ |
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Cost |
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At 1 January 2023 and 31 December 2023 |
562,160 |
562,160 |
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_______ |
_______ |
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Depreciation |
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At 1 January 2023 |
292,318 |
292,318 |
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Charge for the year |
22,486 |
22,486 |
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_______ |
_______ |
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At 31 December 2023 |
314,804 |
314,804 |
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_______ |
_______ |
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Carrying amount |
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At 31 December 2023 |
247,356 |
247,356 |
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_______ |
_______ |
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At 31 December 2022 |
269,842 |
269,842 |
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_______ |
_______ |
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6.
Investments
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Shares in group undertakings and participating interests |
Total |
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£ |
£ |
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Cost |
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At 1 January 2023 and 31 December 2023 |
630,001 |
630,001 |
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_______ |
_______ |
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Impairment |
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At 1 January 2023 and 31 December 2023 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 December 2023 |
630,001 |
630,001 |
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_______ |
_______ |
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At 31 December 2022 |
630,001 |
630,001 |
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_______ |
_______ |
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Investments in group undertakings |
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Registered office |
Class of share |
Percentage of shares held |
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Subsidiary undertakings |
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Hambleton Bard Limited |
|
England and Wales |
Ordinary |
100 |
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Speeddraw Limited |
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England and Wales |
Ordinary |
100 |
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7.
Debtors
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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23,208 |
15,472 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
2,603,158 |
2,119,572 |
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|
|
_______ |
_______ |
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2,626,366 |
2,135,044 |
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|
_______ |
_______ |
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8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
106,000 |
108,000 |
|
Trade creditors |
|
197 |
197 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
198,794 |
- |
|
Corporation tax |
|
16,760 |
14,145 |
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Other creditors |
|
2,351 |
2,251 |
|
|
|
_______ |
_______ |
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|
324,102 |
124,593 |
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|
_______ |
_______ |
|
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9.
Creditors: amounts falling due after more than one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
86,040 |
188,857 |
|
|
|
_______ |
_______ |
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The loan, which is repayable by installments, has a maturity date of 2025. Interest of 3% above the Bank of England base rate is being charged.
10.
Related party transactions
During the year the company entered into the following transactions with related parties:
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Transaction value |
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Balance owed by/(owed to) |
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|
2023 |
2022 |
2023 |
2022 |
|
|
£ |
£ |
£ |
£ |
|
Hambleton Bard Limited |
(
92,834) |
(
92,832) |
2,008,669 |
1,728,875 |
|
Speeddraw Limited
|
- |
- |
397,489 |
390,697 |
|
|
_______ |
_______ |
_______ |
_______ |
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No interest is being charged on these loans and there are no fixed payment terms. Rent amounting to £92,832 (2022 : £92,832) has also been paid by its subsidiary to this company. This is a market rent and represents an annual operating lease commitment.
11.
Controlling party
The day to day operations are controlled by the director, however no single entity has control over the assets and liabilities of the company.The ultimate controlling party is Hambleton Bard Holdings (Cyprus) Limited, a company residing in Cyprus