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Registration number: 13027966

HTL Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

HTL Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

HTL Holdings Limited

Company Information

Directors

Mr Scott Stuart Langridge

Mrs Lisa Langridge

Company secretary

Mrs Lisa Langridge

Registered office

Hadfield House
Hulme Hall Lane
Miles Platting
Manchester
M40 8AG

Accountants

D C Accounting Solutions Ltd Central House
Central Drive
Romiley
Stockport
Cheshire
SK6 4PE

 

HTL Holdings Limited

(Registration number: 13027966)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

108,683

144,911

Investments

5

1,959,750

1,959,750

 

2,068,433

2,104,661

Current assets

 

Debtors

6

35,000

275,900

Cash at bank and in hand

 

103,700

485,302

 

138,700

761,202

Creditors: Amounts falling due within one year

7

(160,213)

(606,033)

Net current (liabilities)/assets

 

(21,513)

155,169

Total assets less current liabilities

 

2,046,920

2,259,830

Creditors: Amounts falling due after more than one year

7

(1,421,360)

(1,773,132)

Provisions for liabilities

(27,170)

(36,228)

Net assets

 

598,390

450,470

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

598,290

450,370

Shareholders' funds

 

598,390

450,470

For the financial year ending 31 December 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 and 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 6 February 2025 and signed on its behalf by:
 

.........................................
Mr Scott Stuart Langridge
Director

 

HTL Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Hadfield House
Hulme Hall Lane
Miles Platting
Manchester
M40 8AG
England

These financial statements were authorised for issue by the Board on 6 February 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.

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 income 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.

 

HTL Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance

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 group 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 group 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.

 

HTL Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

HTL Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

173,238

173,238

At 31 December 2024

173,238

173,238

Depreciation

At 1 January 2024

28,327

28,327

Charge for the year

36,228

36,228

At 31 December 2024

64,555

64,555

Carrying amount

At 31 December 2024

108,683

108,683

At 31 December 2023

144,911

144,911

 

HTL Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

1,959,750

1,959,750

Subsidiaries

£

Cost or valuation

At 1 January 2024

1,959,750

Provision

Carrying amount

At 31 December 2024

1,959,750

At 31 December 2023

1,959,750

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Hadfields Transport Limited

Hadfield House
Hulme Hall Lane
Miles Platting
Manchester
M40 8AG

England & Wales

Ordinary shares

100%

100%

Subsidiary undertakings

Hadfields Transport Limited

The principal activity of Hadfields Transport Limited is to trade as haulage contractors and warehousemen.

 

HTL Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current

2024
£

2023
£

Other debtors

35,000

275,900

 

35,000

275,900

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

78,214

228,215

Amounts owed to group undertakings and undertakings in which the company has a participating interest

11

3,749

319,749

Taxation and social security

 

73,249

53,069

Accruals and deferred income

 

5,000

5,000

Other creditors

 

1

-

 

160,213

606,033

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

1,421,360

1,773,132

 

HTL Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,314,791

1,425,368

Hire purchase contracts

106,569

122,764

Other borrowings

-

225,000

1,421,360

1,773,132

Current loans and borrowings

2024
£

2023
£

Bank borrowings

62,019

62,020

Hire purchase contracts

16,195

16,195

Other borrowings

-

150,000

78,214

228,215

Bank borrowings

Bank loan is denominated in sterling with a nominal interest rate of 3%, and the final instalment is due on 18 February 2036. The carrying amount at year end is £1,376,810 (2023 - £1,487,387).

Secured against the freehold property - Hadfields House - owned by Hadfields Transport Limited.

Other borrowings

Hire purchase creditors is denominated in sterling with a nominal interest rate of 5%, and the final instalment is due on 31 March 2026. The carrying amount at year end is £122,764 (2023 - £138,959).

Secured on specific motor vehicles

10

Dividends

Interim dividends paid

 

HTL Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2024
£

2023
£

Interim dividend of £1,452.00 (2023 - £1,951.00) per each Ordinary shares

145,200

195,100

 

 

11

Related party transactions

Summary of transactions with subsidiaries

The company provides administrative support to Hadfields Transport Limited. During the year, the company charged £300000 (2023 £430000) for these administrative services. At the Balance sheet date, the company owed £3749 (2023 £319749) to Hadfields Transport Limited.