REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
HOCKLEYS HOLDINGS LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
HOCKLEYS HOLDINGS LIMITED |
HOCKLEYS HOLDINGS LIMITED (REGISTERED NUMBER: 10033098) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 APRIL 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Statement of Changes in Equity | 5 |
Notes to the Financial Statements | 6 |
HOCKLEYS HOLDINGS LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 East Bridge Street |
Enniskillen |
Co. Fermanagh |
BT74 7BT |
SOLICITORS: |
Princes Exchange |
1 Earl Grey Street |
Edinburgh |
EH3 9EE |
HOCKLEYS HOLDINGS LIMITED (REGISTERED NUMBER: 10033098) |
REPORT OF THE DIRECTORS |
for the Year Ended 30 APRIL 2024 |
The directors present their report with the financial statements of the company for the year ended 30 April 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of a holding company, managing investments in and loans to joint venture entities. |
REVIEW OF BUSINESS |
The directors are satisfied with the performance of the joint venture entity that the company holds shares in and has granted loans to. |
DIRECTORS |
The Directors holding office at 30 April 2024 held the following beneficial interest in the issued share capital of the company at their date of appointment and the 30 April 2024. |
Director No of shares held |
Mrs H Janaway 90 |
Mr S R Janaway 10 |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
HOCKLEYS HOLDINGS LIMITED (REGISTERED NUMBER: 10033098) |
INCOME STATEMENT |
for the Year Ended 30 APRIL 2024 |
30.4.24 | 30.4.23 |
£ | £ |
TURNOVER |
Administrative expenses |
OPERATING LOSS | ( |
) | ( |
) |
Interest receivable and similar income |
PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
Tax on profit/(loss) |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
HOCKLEYS HOLDINGS LIMITED (REGISTERED NUMBER: 10033098) |
BALANCE SHEET |
30 APRIL 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HOCKLEYS HOLDINGS LIMITED (REGISTERED NUMBER: 10033098) |
STATEMENT OF CHANGES IN EQUITY |
for the Year Ended 30 APRIL 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 May 2022 |
Changes in equity |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 30 April 2023 |
Changes in equity |
Total comprehensive income | - |
Balance at 30 April 2024 |
HOCKLEYS HOLDINGS LIMITED (REGISTERED NUMBER: 10033098) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Hockleys Holdings Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
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. |
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
HOCKLEYS HOLDINGS LIMITED (REGISTERED NUMBER: 10033098) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Investments in subsidiaries and associates |
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment or reversal of impairment losses are recognised immediately in the income statement.. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | FIXED ASSET INVESTMENTS |
30.4.24 | 30.4.23 |
£ | £ |
Participating interests |
Loans to undertakings in which the company has a participating interest |
Additional information is as follows: |
Interest |
in joint |
venture |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
HOCKLEYS HOLDINGS LIMITED (REGISTERED NUMBER: 10033098) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 APRIL 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
Loans to |
joint |
ventures |
£ |
At 1 May 2023 |
and 30 April 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Tax |
Directors' current accounts | 655,884 | 655,811 |
Accruals and deferred income |
6. | RELATED PARTY DISCLOSURES |
During the period, the company borrowed £655,884 from shareholders and directors directly. These loans are Included within Creditors as directors' current accounts.These loans are all interest free and have no fixed term for repayment. These loans have been subordinated to loans made to the company by third parties. |
7. | GOING CONCERN |
The company made a profit before tax of £14,011 for the year and had net assets of £137,929 at the balance sheet date. |
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. |
The company meets its day to day working capital requirements through support from its directors' by the way of loans amounting to £655,884 at 30 April 2024. The directors have confirmed that they will not seek repayment of loans while this would damage the interests of the company and other creditors. |
On the basis of the above, the directors consider it appropriate to prepare the financial statements on the going concern basis. |