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Registered number: 02567256










R HICKS (HOLDINGS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
R HICKS (HOLDINGS) LIMITED
REGISTERED NUMBER: 02567256

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
2
2

Investment property
 6 
1,600,000
1,250,000

  
1,600,002
1,250,002

Current assets
  

Cash at bank and in hand
  
402
6,101

Creditors: amounts falling due within one year
 7 
(21,090)
(40,676)

Net current liabilities
  
 
 
(20,688)
 
 
(34,575)

Total assets less current liabilities
  
1,579,314
1,215,427

Provisions for liabilities
  

Deferred tax
  
(249,194)
(161,694)

Net assets
  
1,330,120
1,053,733


Capital and reserves
  

Called up share capital 
  
40,000
40,000

Profit and loss account
  
1,290,120
1,013,733

  
1,330,120
1,053,733


Page 1

 
R HICKS (HOLDINGS) LIMITED
REGISTERED NUMBER: 02567256
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 December 2024.





R T A Hicks
Director


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
R HICKS (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

R Hicks (Holdings) Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 02567256). Its registered office is 10 Glyn Y Mor, Llanbedrog, Pwllheli, Gwynedd, LL53 7NW. The principal activity of the Company throughout the year continued to be that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The company's functional and presentation currency is pounds sterling. 

The following principal accounting policies have been applied:

 
2.2

Revenue

Rental income represents the rents due for the year under operating leases, all of which relate to properties in the United Kingdom.

 
2.3

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
R HICKS (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Financial instruments


The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an 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.

 
2.6

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the Balance Sheet date in the countries where the Company operates and
generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not
reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be
recovered against the reversal of deferred tax liabilities or other future taxable profits; and any
deferred tax balances are reversed if and when all conditions for retaining associated tax allowances
have been met.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements have had to be made by management in preparing these financial statements.
The directors have made key assumptions in the determination of fair value of the investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
R HICKS (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2023
2



At 30 June 2024

2






Net book value



At 30 June 2024
2



At 30 June 2023
2


6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
1,250,000


Surplus on revaluation
350,000



At 30 June 2024
1,600,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.



At 30 June 2024



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
480,000
480,000

480,000
480,000

Page 5

 
R HICKS (HOLDINGS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
1,876
1,876

Corporation tax
17,283
16,068

Other creditors
23
451

Accruals and deferred income
1,908
22,281

21,090
40,676


 
Page 6