Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity00falsetruefalse 13565328 2023-01-01 2023-12-31 13565328 2021-08-13 2022-12-31 13565328 2023-12-31 13565328 2022-12-31 13565328 c:Director1 2023-01-01 2023-12-31 13565328 d:CurrentFinancialInstruments 2023-12-31 13565328 d:CurrentFinancialInstruments 2022-12-31 13565328 d:Non-currentFinancialInstruments 2023-12-31 13565328 d:Non-currentFinancialInstruments 2022-12-31 13565328 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13565328 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13565328 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 13565328 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 13565328 d:ShareCapital 2023-12-31 13565328 d:ShareCapital 2022-12-31 13565328 d:RetainedEarningsAccumulatedLosses 2023-12-31 13565328 d:RetainedEarningsAccumulatedLosses 2022-12-31 13565328 c:FRS102 2023-01-01 2023-12-31 13565328 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13565328 c:FullAccounts 2023-01-01 2023-12-31 13565328 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13565328 2 2023-01-01 2023-12-31 13565328 6 2023-01-01 2023-12-31 13565328 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 13565328










HG ILFORD LOAN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HG ILFORD LOAN LIMITED
REGISTERED NUMBER: 13565328

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1
1

  
1
1

Current assets
  

Debtors: amounts falling due within one year
 5 
10,759,575
8,364,451

  
10,759,575
8,364,451

Creditors: amounts falling due within one year
 6 
-
(8,364,451)

Net current assets
  
 
 
10,759,575
 
 
-

Total assets less current liabilities
  
10,759,576
1

Creditors: amounts falling due after more than one year
 7 
(11,107,470)
-

  

Net (liabilities)/assets
  
(347,894)
1


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(347,895)
-

  
(347,894)
1


Page 1

 
HG ILFORD LOAN LIMITED
REGISTERED NUMBER: 13565328
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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 comprehensive income 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 by: 




................................................
J A McDaniel
Director

Date: 24 February 2025

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

Page 2

 
HG ILFORD LOAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

HG Ilford Loan Limited is a private company, limited by shares and registered in England and Wales. Its registration number is 13565328. The registered office and trading address is 50 Great Marlborough Street, London, England, W1F 7JS.
The principal activity of the Company is that of a financial intermediary.

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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis on the assumption that the company will continue to receive financial assistance from its shareholders as and when required. The company's major creditor is a balance due to the shareholder.
The director has reviewed the company's liabilities over the next 12 months and considers the business to be a going concern. The director has reviewed cash flow forecasts, concluding that the going concern basis remains an appropriate basis of preparation for these financial statements given the cash flow impact of operations 12 months from the date of signing this report.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
HG ILFORD LOAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
HG ILFORD LOAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 January 2023
1



At 31 December 2023
1





5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
10,759,575
8,364,451


The loan owed from Ilford Holding Limited is unsecured and incurs interest of 24% per annum. The loan is repayable on demand.


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
-
8,364,451


Page 5

 
HG ILFORD LOAN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
11,107,470
-


The loan owed to Ilford Mezzanine Lender LLC is unsecured and incurs interest at 24% per annum. The loan is repayable by 28 September 2026.


8.


Related party transactions

Included in Debtors due within one year is £10,759,575 (2022: £8,364,451) owed from Ilford Holding Limited. This loan is unsecured and initially incurred interest at 18%, which increased to 24% from 30 September 2022. The loan is repayable on demand.
Included in Creditors due after more than one year is £11,107,470 (2022: £8,364,451 due within one year) owed to Ilford Mezzanine Lender LLC. This loan is unsecured and incurs interest at 24%. The loan is repayable by 28 September 2026.


9.


Controlling party

The Company's immediate holding company is Ilford Mezzanine Lender LLC, which is incorporated
in Delaware, US.
The Company is ultimately owned by Meadow Evergreen LP, which is registered in Delaware, US.

 
Page 6