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REGISTERED NUMBER: 13464483 (England and Wales)


















Financial Statements for the Year Ended 31 December 2023

for

LONHYD Limited

LONHYD Limited (Registered number: 13464483)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LONHYD Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Ms N Dhollander





REGISTERED OFFICE: Dhollandia UK Limited
Latham Road
Huntingdon
Cambridgeshire
PE29 6YG





REGISTERED NUMBER: 13464483 (England and Wales)





AUDITORS: George Hay Partnership LLP
Chartered Accountants
and Statutory Auditor
St George's House
George Street
Huntingdon
Cambridgeshire
PE29 3GH

LONHYD Limited (Registered number: 13464483)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 14,375 21,875
Investment property 4 6,431,435 7,597,649
6,445,810 7,619,524

CURRENT ASSETS
Debtors 5 36,586 39,231
Cash at bank 302,513 152,461
339,099 191,692
CREDITORS
Amounts falling due within one year 6 126,843 27,175
NET CURRENT ASSETS 212,256 164,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,658,066

7,784,041

CAPITAL AND RESERVES
Called up share capital 6,000,000 6,000,000
Other reserves 2,750,000 2,750,000
Retained earnings (2,091,934 ) (965,959 )
6,658,066 7,784,041

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 6 June 2024 and were signed by:





Ms N Dhollander - Director


LONHYD Limited (Registered number: 13464483)

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

1. 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.

Significant judgements and estimates
Valuation of Properties
The investment properties have been revalued to their fair value as at 31 December 2023 by the director using the house price index for the relevant regions. The house price index is based on changes across each London borough throughout the year and applies a single average rate of change to all property types and therefore this single rate does have its limitations. The Director accept this limitation but deem that any differences that may arise using an alternative method would not be material.

Turnover
Turnover represents rents receivable and is recognised evenly over the term of the lease.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Debtors and creditors receivable / payable within one year
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.

2. EMPLOYEES AND DIRECTORS

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

LONHYD Limited (Registered number: 13464483)

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

3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 30,000
DEPRECIATION
At 1 January 2023 8,125
Charge for year 7,500
At 31 December 2023 15,625
NET BOOK VALUE
At 31 December 2023 14,375
At 31 December 2022 21,875

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 7,597,649
Additions 51,000
Revaluations (1,217,214 )
At 31 December 2023 6,431,435
NET BOOK VALUE
At 31 December 2023 6,431,435
At 31 December 2022 7,597,649

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 (1,089,965 )
Valuation in 2023 (1,217,214 )
Cost 8,738,614
6,431,435

The investment properties have been revalued to their fair value as at 31 December 2023 by the director using the house price index for the relevant regions.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 36,586 39,231

LONHYD Limited (Registered number: 13464483)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 16,809 17,695
Other creditors 110,034 9,480
126,843 27,175

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Emma Wilsher FCA (Senior Statutory Auditor)
for and on behalf of George Hay Partnership LLP

8. ULTIMATE CONTROLLING PARTY

The company is a wholly-owned subsidiary of Hydrotec Engineering Limited.

The parent undertaking of the largest and smallest group for which consolidated financial statements are prepared, is Hydrotec Engineering Limited, which is incorporated in Ireland and for which financial statements are available from Old Waterford Rd, Laganore, Clonmel, Co. Tipperary, Ireland.

The ultimate controlling party is Hyd Fin International which is incorporated in Luxembourg.

9. RESERVES

Other reserves represent a capital contribution from the parent undertaking.