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REGISTERED NUMBER: 06835963 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

HOLYMOORSIDE INVESTMENTS LIMITED

HOLYMOORSIDE INVESTMENTS LIMITED (REGISTERED NUMBER: 06835963)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HOLYMOORSIDE INVESTMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: J L Wilson





SECRETARY: C J Phoenix





REGISTERED OFFICE: Chander Hill
Chander Hill Lane
Holymoorside
Chesterfield
S42 7BW





REGISTERED NUMBER: 06835963 (England and Wales)





ACCOUNTANTS: Hollis and Co Limited
Chartered Accountants
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB

HOLYMOORSIDE INVESTMENTS LIMITED (REGISTERED NUMBER: 06835963)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Cash at bank 3,643 614

CREDITORS
Amounts falling due within one year 6 9,750,478 9,736,592
NET CURRENT LIABILITIES (9,746,835 ) (9,735,978 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,746,835

)

(9,735,978

)

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 8 (9,746,837 ) (9,735,980 )
SHAREHOLDERS' FUNDS (9,746,835 ) (9,735,978 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 March 2025 and were signed by:





J L Wilson - Director


HOLYMOORSIDE INVESTMENTS LIMITED (REGISTERED NUMBER: 06835963)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Holymoorside Investments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


The accounts are rounded to the nearest £.

The company is not part of a group, therefore these financial statements cover the entity as an individual company.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

As mentioned in the related party disclosures, the company is funded by loans from its director and other related parties. There are no indications that such funding will be withdrawn.

Despite the company reporting a balance sheet which shows total liabilities in excess of total assets, on the basis of the above, the director considers it appropriate to prepare the financial statements on a going concern basis. If the funding were to be withdrawn, the director believes that there would be no material changes to the company's balance sheet if it were to be prepared under a break up basis.

Financial instruments
Financial Liabilities

The company's director's and other loans payable meet the definition of a basic financial instrument, so they are originally recognised at the transaction price.

Debt instruments which are financing transactions at a rate of interest that is not a market rate.

Where debt instruments are classified as long term liabilities, then the company measures these at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Where debt instruments are classified as current liabilities, then there is no present value adjustment to the initial measurement based on amortised cost.

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.


HOLYMOORSIDE INVESTMENTS LIMITED (REGISTERED NUMBER: 06835963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments
Fixed asset investments are stated at cost, less provisions for impairment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Cost b/f 8,791,211 8,449,516
Exchange rate movement (239,815 ) 341,695
Impairment provision b/f (8,791,211 ) (8,449,516 )
Impairment provision movement 239,815 (341,695 )
- -

The above investment relates to the placement of €10 million in a one year Asset Enhancement Agreement. This agreement expired on 17th August 2010.

At the expiry of the agreement, the capital invested was to be returned to the company together with a minimum amount of interest. Regrettably, this has not happened and legal action continues in two overseas jurisdictions in an attempt to recover the investment.

During the year, the company has entered into a Litigation Funding Agreement, the exact terms of which are confidential. Until the litigation and the associated asset recovery process is complete the director does not feel it is appropriate to change the full impairment of the investment in the accounts.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 9,750,478 9,736,592

HOLYMOORSIDE INVESTMENTS LIMITED (REGISTERED NUMBER: 06835963)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

8. RESERVES
Retained
earnings
£   

At 1 April 2023 (9,735,980 )
Deficit for the year (10,857 )
At 31 March 2024 (9,746,837 )

9. RELATED PARTY DISCLOSURES

During the period, Mr J L Wilson, the director of the company, has continued to loan Holymoorside Investments Limited monies. At 31 March 2024, the company owed £3,473,277 (2023: £4,373,277) to Mr Wilson. A commercial rate of interest was charged on the loan, however having regard to the events as described in note 7 to the accounts, from 1 April 2010 no further interest has been accrued as payable to Mr Wilson. At 31 March 2024, the outstanding loan capital and accrued interest due to Mr Wilson amounted to £3,584,958 (2023: £4,484,958)

Mr Wilson is a director of certain other companies and during the year those companies have continued to loan £5,115,000 to Holymoorside Investments Limited. A commercial rate of interest was charged on these loans, however having regard to the events as described in note 7 to the accounts, from 1 April 2010 no further interest has been accrued as payable to these companies. At 31 March 2024, the outstanding loan capital and accrued interest due to these companies amounted to £5,251,634 (2023: £5,251,634).