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Registration number: 03336824

Hayter Investments Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

Brebners
Chartered Accountants
Brebners
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Hayter Investments Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Hayter Investments Limited

Company Information

Directors

Mr J H F Hayter

Mr J H Dalrymple

Mrs B M Getley

Mrs A E L Inkin

Registered office

45 Gresham Street
London
EC2V 7BG

Accountants

Brebners
Chartered Accountants
Brebners
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Hayter Investments Limited

Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

5

2,272,216

2,145,118

Current assets

 

Cash at bank and in hand

 

11,374

19,046

Creditors: Amounts falling due within one year

6

(4,807)

(3,946)

Net current assets

 

6,567

15,100

Total assets less current liabilities

 

2,278,783

2,160,218

Provisions for liabilities

(484,439)

(453,153)

Net assets

 

1,794,344

1,707,065

Capital and reserves

 

Called up share capital

10,626

10,626

Share premium reserve

7

771,312

771,312

Profit and loss account

7

1,012,406

925,127

Total equity

 

1,794,344

1,707,065

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Hayter Investments Limited

Statement of Financial Position as at 31 March 2024

Approved and authorised by the Board on 12 November 2024 and signed on its behalf by:
 

.........................................

Mr J H F Hayter

Director

Company registration number: 03336824

 

Hayter Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
45 Gresham Street
London
EC2V 7BG

The principal activity of the company is that of investment management.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net assets at 31 March 2024 amounting to £1,794,344. The nature of the company's affairs are straight forward and the company has few fixed overheads. The company manages its investment portfolio with advice from the investment managers.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. On the basis of the above the financial statements have been prepared on the going concern basis.

Revenue recognition

Turnover comprises investment income received or receivable in the ordinary course of the company's activities.

The company recognises dividend income on the date that dividends are declared and contractually receivable.

Tax

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

 

Hayter Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0).

4

TAXATION

2024

2023

£

£

Movement on deferred tax on unrealised profits

31,286

120,012

No corporate tax arises on the result for the year. The rate of corporate tax was 25% throughout the year.

 

Hayter Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Investments

Fixed asset investments
£

Fair value

At 1 April 2023

2,145,118

Fair value adjustments

125,077

Additions

29,590

Disposals

(27,569)

At 31 March 2024

2,272,216

Carrying amount

At 31 March 2024

2,272,216

At 31 March 2023

2,145,118

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Accruals and deferred income

4,807

3,946

7

Reserves

The share premium account is the reserve that records any premium paid over the nominal value of any shares issued.

The profit and loss account is the reserve that records retained earnings and accumulated losses. Of the amount standing to the credit of the profit and loss account, an amount of £1,010,515 (2023 - £916,722) is not realised and therefore not distributable, in accordance with the Companies Act 2006.