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Registration number: 06759902

HL (UK) Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

HL (UK) Holdings Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

HL (UK) Holdings Limited

Company Information

Directors

Mr J P Haigh

Mr P Haigh

Registered office

HL (UK) Holdings Building
Normanby Road
Scunthorpe
North Lincolnshire
DN15 9YJ

 

HL (UK) Holdings Limited

(Registration number: 06759902)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,391,985

950,000

Investments

5

8

8

 

1,391,993

950,008

Current assets

 

Debtors

6

67,469

284,692

Cash at bank and in hand

 

17,132

21,729

 

84,601

306,421

Creditors: Amounts falling due within one year

7

(69,521)

(78,378)

Net current assets

 

15,080

228,043

Total assets less current liabilities

 

1,407,073

1,178,051

Creditors: Amounts falling due after more than one year

7

(494,375)

(188,046)

Provisions for liabilities

(144,529)

(109,842)

Net assets

 

768,169

880,163

Capital and reserves

 

Called up share capital

100

100

Retained earnings

768,069

880,063

Shareholders' funds

 

768,169

880,163

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 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

 

HL (UK) Holdings Limited

(Registration number: 06759902)
Balance Sheet as at 30 April 2024

.........................................
Mr J P Haigh
Director

.........................................
Mr P Haigh
Director

 

HL (UK) Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
HL (UK) Holdings Building
Normanby Road
Scunthorpe
North Lincolnshire
DN15 9YJ

These financial statements were authorised for issue by the Board on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities- 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Preparation of consolidated financial statements

The financial statements contain informaiton about HL (UK) Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

Preparation of consolidated financial statements

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

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

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

HL (UK) Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Company in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Company includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

HL (UK) Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 (including Directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 May

950,000

Additions

441,985

At 30 April

1,391,985

The property was valued by an independant valuer on the 9th November 2021

5

Investments

2024
£

2023
£

Investments in subsidiaries

8

8

Subsidiaries

£

Cost or valuation

At 1 May 2023

8

Provision

Carrying amount

At 30 April 2024

8

At 30 April 2023

8

 

HL (UK) Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

5,671

7,063

Amounts owed by related parties

9

41,891

250,488

Prepayments

 

19,012

26,781

Other debtors

 

895

360

   

67,469

284,692

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

26,250

18,418

Trade creditors

 

28,328

27,481

Taxation and social security

 

-

109

Accruals and deferred income

 

13,660

22,590

Other creditors

 

1,283

9,780

 

69,521

78,378

Creditors include bank loans which are secured of £26,250 (2023 - £18,418).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

494,375

188,046

Creditors include bank loans which are secured of £494,375 (2023 - £188,046).

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

494,375

188,046

Current loans and borrowings

2024
£

2023
£

Bank borrowings

26,250

18,418

9

Related party transactions

The below advance had no fixed repayment date and was unsecured. Interest was not charged.

 

HL (UK) Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Transactions with Directors

2024

At 1 May 2023
£

At 30 April 2024
£

Mr J P Haigh

180

180

2023

At 1 May 2022
£

At 30 April 2023
£

Mr J P Haigh

180

180