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Company No: 02043323 (England and Wales)

HOVELANDS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

HOVELANDS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

HOVELANDS LIMITED

BALANCE SHEET

As at 30 April 2024
HOVELANDS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 772,386 772,386
772,386 772,386
Current assets
Cash at bank and in hand 2,742 1,382
2,742 1,382
Creditors: amounts falling due within one year 4 ( 551,681) ( 555,228)
Net current liabilities (548,939) (553,846)
Total assets less current liabilities 223,447 218,540
Net assets 223,447 218,540
Capital and reserves
Called-up share capital 10,000 10,000
Capital redemption reserve 60,000 60,000
Profit and loss account 153,447 148,540
Total shareholders' funds 223,447 218,540

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hovelands Limited (registered number: 02043323) were approved and authorised for issue by the Board of Directors on 12 November 2024. They were signed on its behalf by:

S A Hill
Director
M Raisey
Director
HOVELANDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
HOVELANDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hovelands Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 11 High Street, Taunton, Somerset, TA1 3PQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Fixed asset investments

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 May 2023 772,386
At 30 April 2024 772,386
Carrying value at 30 April 2024 772,386
Carrying value at 30 April 2023 772,386

4. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Group undertakings 366,447 359,937
Other taxation and social security 0 250
Other creditors 185,234 195,041
551,681 555,228