Company No:
Contents
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) |
Note | 2024 | 2023 | ||
€ | € | |||
Restated - note 2 | ||||
Fixed assets | ||||
Investments | 4 |
|
|
|
11,880,000 | 11,880,000 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Investments | 6 |
|
|
|
6,276 | 1,126,820 | |||
Creditors: amounts falling due within one year | 7 | (
|
(
|
|
Net current liabilities | (14,347,868) | (13,828,208) | ||
Total assets less current liabilities | (2,467,868) | (1,948,208) | ||
Net liabilities | (
|
(
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Translation reserve | (
|
(
|
||
Profit and loss account | (
|
(
|
||
Total shareholders' deficit | (
|
(
|
Directors' responsibilities:
The financial statements of Hamilton 18 Limited (registered number:
M R Couling
Director |
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.
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 €.
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.
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)).
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, which include investments in subsidiaries, are measured at cost less impairment.
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 are valued at fair value and are intended to be held for less than one year.
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) |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the company during the year |
|
|
Investments in subsidiaries
2024 | |
€ | |
Cost | |
At 01 May 2023 |
|
At 30 April 2024 |
|
Carrying value at 30 April 2024 |
|
Carrying value at 30 April 2023 |
|
The company owns 100% of the share capital of Can Fructu Estate, Sociedad Limitada, which is registered in Spain.
2024 | 2023 | ||
€ | € | ||
Other debtors |
|
|
2024 | 2023 | ||
€ | € | ||
Investments in Private Equity |
|
|
2024 | 2023 | ||
€ | € | ||
Amounts owed to directors (note 8) |
|
|
|
Accruals |
|
|
|
|
|
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.