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REGISTERED NUMBER: 05956213 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 JANUARY 2024

FOR

STONEHILL HOLDINGS UK LTD

STONEHILL HOLDINGS UK LTD (REGISTERED NUMBER: 05956213)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STONEHILL HOLDINGS UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 JANUARY 2024







DIRECTOR: M Cartisser





REGISTERED OFFICE: 155 Gray's Inn Road
London
WC1X 8UE





REGISTERED NUMBER: 05956213 (England and Wales)





ACCOUNTANTS: Macalvins Limited
Chartered Accountants
7 St John's Road
Harrow
Middlesex
HA1 2EY

STONEHILL HOLDINGS UK LTD (REGISTERED NUMBER: 05956213)

BALANCE SHEET
28 JANUARY 2024

28.1.24 28.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 40,432 54,856
40,432 54,856

CURRENT ASSETS
Stocks 334,984 549,482
Debtors 6 472,733 470,486
Cash at bank and in hand 3,742 34,129
811,459 1,054,097
CREDITORS
Amounts falling due within one year 7 64,128 81,616
NET CURRENT ASSETS 747,331 972,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

787,763

1,027,337

CREDITORS
Amounts falling due after more than one year 8 (3,839,202 ) (3,413,270 )

PROVISIONS FOR LIABILITIES 10 - 100,000
NET LIABILITIES (3,051,439 ) (2,285,933 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (3,051,539 ) (2,286,033 )
(3,051,439 ) (2,285,933 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 29 August 2024 and were signed by:





M Cartisser - Director


STONEHILL HOLDINGS UK LTD (REGISTERED NUMBER: 05956213)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 JANUARY 2024

1. STATUTORY INFORMATION

Stonehill Holdings UK 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.

Going concern
The financial statements have been prepared on a going concern basis, notwithstanding the net liabilities at balance sheet date. The director of the company has provided the company with an undertaking that it will continue to support the company financially for the foreseeable future and in the twelve months from the date of signing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

STONEHILL HOLDINGS UK LTD (REGISTERED NUMBER: 05956213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 29 January 2023
and 28 January 2024 7,500
AMORTISATION
At 29 January 2023
and 28 January 2024 7,500
NET BOOK VALUE
At 28 January 2024 -
At 28 January 2023 -

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 29 January 2023
and 28 January 2024 52,520 6,230 58,750
DEPRECIATION
At 29 January 2023 - 3,894 3,894
Charge for year 13,130 1,294 14,424
At 28 January 2024 13,130 5,188 18,318
NET BOOK VALUE
At 28 January 2024 39,390 1,042 40,432
At 28 January 2023 52,520 2,336 54,856

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.1.24 28.1.23
£    £   
Trade debtors - 184,452
Other debtors 472,733 286,034
472,733 470,486

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.1.24 28.1.23
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,071
Trade creditors 46,935 67,429
Taxation and social security 12,458 3,261
Other creditors (5,265 ) 855
64,128 81,616

STONEHILL HOLDINGS UK LTD (REGISTERED NUMBER: 05956213)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 JANUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.1.24 28.1.23
£    £   
Bank loans (see note 9) 11,575 24,172
Amounts owed to associated company 3,827,627 3,389,098
3,839,202 3,413,270

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans due after more than
5 years 11,575 24,172
11,575 24,172

Amounts owed to associated company relate to an interest bearing loan from a company that is under the common control of the shareholder. The loan is due for repayment by December 2031. Interest is accrued at 4% per annum.

9. LOANS

An analysis of the maturity of loans is given below:

28.1.24 28.1.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,071

Amounts falling due in more than five years:

Repayable by instalments
Bank Loans due after more than
5 years 11,575 24,172
11,575 24,172

10. PROVISIONS FOR LIABILITIES
28.1.24 28.1.23
£    £   
Other provisions - (100,000 )

A provision has been included in these financial statements in respect of advances made to an individual in relation to a project in which the director had interest.

11. RELATED PARTY DISCLOSURES

Included within other debtors amount of £352,715 (2023: £282,696) owed from the director of the company. The loan is repaid fully post year end.