Silverfin false false 30/04/2024 01/05/2023 30/04/2024 K Couling 26/09/2021 M R Couling 18/04/2018 15 January 2025 The principal activity of the company in the year was that of an investment company 11317620 2024-04-30 11317620 bus:Director1 2024-04-30 11317620 bus:Director2 2024-04-30 11317620 2023-04-30 11317620 core:CurrentFinancialInstruments 2024-04-30 11317620 core:CurrentFinancialInstruments 2023-04-30 11317620 core:ShareCapital 2024-04-30 11317620 core:ShareCapital 2023-04-30 11317620 core:ForeignCurrencyTranslationReserve 2024-04-30 11317620 core:ForeignCurrencyTranslationReserve 2023-04-30 11317620 core:RetainedEarningsAccumulatedLosses 2024-04-30 11317620 core:RetainedEarningsAccumulatedLosses 2023-04-30 11317620 core:CostValuation 2023-04-30 11317620 core:CostValuation 2024-04-30 11317620 1 2024-04-30 11317620 1 2023-04-30 11317620 2023-05-01 2024-04-30 11317620 bus:FilletedAccounts 2023-05-01 2024-04-30 11317620 bus:SmallEntities 2023-05-01 2024-04-30 11317620 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11317620 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11317620 bus:Director1 2023-05-01 2024-04-30 11317620 bus:Director2 2023-05-01 2024-04-30 11317620 2022-05-01 2023-04-30 iso4217:EUR xbrli:pure

Company No: 11317620 (England and Wales)

HAMILTON 18 LIMITED

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

HAMILTON 18 LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

HAMILTON 18 LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
HAMILTON 18 LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS K Couling
M R Couling
SECRETARY B R Ally
REGISTERED OFFICE 10 Norwich Street
London
EC4A 1BD
United Kingdom
COMPANY NUMBER 11317620 (England and Wales)
HAMILTON 18 LIMITED

BALANCE SHEET

As at 30 April 2024
HAMILTON 18 LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
Restated - note 2
Fixed assets
Investments 4 11,880,000 11,880,000
11,880,000 11,880,000
Current assets
Debtors 5 6,276 423,263
Investments 6 0 703,557
6,276 1,126,820
Creditors: amounts falling due within one year 7 ( 14,354,144) ( 14,955,028)
Net current liabilities (14,347,868) (13,828,208)
Total assets less current liabilities (2,467,868) (1,948,208)
Net liabilities ( 2,467,868) ( 1,948,208)
Capital and reserves
Called-up share capital 1,192 1,192
Translation reserve ( 62,484 ) ( 62,484 )
Profit and loss account ( 2,406,576 ) ( 1,886,916 )
Total shareholders' deficit ( 2,467,868) ( 1,948,208)

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 Hamilton 18 Limited (registered number: 11317620) were approved and authorised for issue by the Board of Directors on 15 January 2025. They were signed on its behalf by:

M R Couling
Director
HAMILTON 18 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
HAMILTON 18 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

Hamilton 18 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 10 Norwich Street, London, EC4A 1BD, 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 EUR which is the functional currency of the Company and rounded to the nearest €.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of €2,467,868. The company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year adjustment

A prior year restatement has been made to recognise income and expenses, as well as balance sheet adjustments, relating to previous periods, in relation to the previously incorrect allocation of expenses and balance sheet movements. This has decreased Debtors by €9,389,741 to €423,263 (previously reported - €9,813,004), increased Amounts falling due within one year by €9,389,288 to (€14,955,028) (previously reported - (€24,344,316)) and increased the Profit and loss account by €453 to (€1,886,916) (previously reported - (€1,886,463)).

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date. Exchange differences are taken into account in arriving at the operating result.

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.

Deferred tax
Provision is made for deferred tax liabilities in respect of temporary timing differences arising from the different treatment of items for the accounts and taxation, without discounting. Deferred tax assets are recognised to the extent to which they are recoverable on the balance of probabilities.

Fixed asset investments

Fixed asset investments, which include investments in subsidiaries, are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Current asset investments

Current asset investments are valued at fair value and are intended to be held for less than one year.

2. Prior year adjustment

As previously reported Adjustment As restated
Year ended 30 April 2023
Debtors 9,813,004 (9,389,741) 423,263
Amounts falling due within one year (24,344,316) 9,389,288 (14,955,028)
Profit and loss account (1,886,463) (453) (1,886,916)

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year 0 0

4. Fixed asset investments

Investments in subsidiaries

2024
Cost
At 01 May 2023 11,880,000
At 30 April 2024 11,880,000
Carrying value at 30 April 2024 11,880,000
Carrying value at 30 April 2023 11,880,000

The company owns 100% of the share capital of Can Fructu Estate, Sociedad Limitada, which is registered in Spain.

5. Debtors

2024 2023
Other debtors 6,276 423,263

6. Current asset investments

2024 2023
Investments in Private Equity 0 703,557

7. Creditors: amounts falling due within one year

2024 2023
Amounts owed to directors (note 8) 14,335,432 14,947,908
Accruals 18,712 7,120
14,354,144 14,955,028

8. Related party transactions

Transactions with the entity's directors

2024 2023
Director's loan account 14,335,432 14,947,908

During the year, the company repaid €612,476 (2023 - €17,942,022) to a director of the company. At the year end, the company owed €14,335,432 (2023 - €14,947,908) to this director. The loan is interest free and repayable on demand.