Company No:
Contents
DIRECTOR | M R Couling |
REGISTERED OFFICE | 10 Norwich Street |
London | |
EC4A 1BD | |
United Kingdom |
COMPANY NUMBER | 13539955 (England and Wales) |
Note | 2024 | 2023 | ||
$ | $ | |||
Fixed assets | ||||
Investments | 3 |
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31,406,899 | 0 | |||
Current assets | ||||
Investments | 4 |
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Cash at bank and in hand |
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1,216,353 | 20,843,063 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (30,172,961) | (67,349) | ||
Total assets less current liabilities | 1,233,938 | (67,349) | ||
Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds/(deficit) |
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Director's responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Hamilton 19 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 19 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 USD which is the functional currency of the Company and rounded to the nearest $.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.
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.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments 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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the company during the year, including the director |
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Listed investments | Other investments | Total | |||
$ | $ | $ | |||
Cost or valuation before impairment | |||||
At 01 May 2023 |
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Additions |
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Movement in fair value |
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At 30 April 2024 |
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Carrying value at 30 April 2024 |
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Carrying value at 30 April 2023 |
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2024 | 2023 | ||
$ | $ | ||
Listed investments – at fair value |
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Investments in Private Equity |
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898,690 | 16,138,031 |
2024 | 2023 | ||
$ | $ | ||
Bank loans |
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Amounts owed to director |
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Accruals |
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Taxation and social security |
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Other creditors |
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Transactions with the entity's directors
2024 | 2023 | ||
$ | $ | ||
Director's loan account | 31,354,792 | 20,000,000 |
During the year, the director advanced £11,354,792 (2023 - £20,000,000) to the company. At the year end the company owed the director £31,354,792 (2023 - £20,000,000). The loan is interest free and repayable on demand.