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Company No: 08297675 (England and Wales)

HAMILTON COURT DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

HAMILTON COURT DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

HAMILTON COURT DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
HAMILTON COURT DEVELOPMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 10 10
10 10
Current assets
Stocks 4 925,000 925,000
Debtors 5 837,463 844,511
Cash at bank and in hand 13,368 17,840
1,775,831 1,787,351
Creditors: amounts falling due within one year 6 ( 612,573) ( 657,520)
Net current assets 1,163,258 1,129,831
Total assets less current liabilities 1,163,268 1,129,841
Net assets 1,163,268 1,129,841
Capital and reserves
Called-up share capital 7 200 200
Profit and loss account 1,163,068 1,129,641
Total shareholders' funds 1,163,268 1,129,841

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 financial statements of Hamilton Court Developments Limited (registered number: 08297675) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D M Kyte
Director
J S Ellis
Director

03 January 2025

HAMILTON COURT DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
HAMILTON COURT DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Hamilton Court Developments 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 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

The principal activity of the company is the development of property for sale.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

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 Statement of Financial Position date.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Investments
Investments in subsidiaries are measured at cost less accumulated impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 April 2023 10
At 31 March 2024 10
Carrying value at 31 March 2024 10
Carrying value at 31 March 2023 10

4. Stocks

2024 2023
£ £
Stocks 925,000 925,000

5. Debtors

2024 2023
£ £
Trade debtors 0 4,971
Amounts owed by group undertakings 35,923 23,477
Amounts owed by directors 0 13,951
Accrued income 0 12,874
VAT recoverable 6,165 18,474
Other debtors 795,375 770,764
837,463 844,511

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 18,223 9,205
Amounts owed to group undertakings 546,901 582,427
Accruals and deferred income 16,250 6,160
Taxation and social security 13,399 13,399
Other creditors 17,800 46,329
612,573 657,520

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
150 Ordinary A shares of £ 1.00 each 150 150
50 Ordinary B shares of £ 1.00 each 50 50
200 200

8. Ultimate controlling party

Parent Company:

Kyte Property Limited
Registered office: 35 Ballards Lane, London, N3 1XW

Principal place of business: 103 Wigmore Street, London, W1U 1QW