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Registration number: 10792991

Hambleden Capital Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Hambleden Capital Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Hambleden Capital Limited

Company Information

Directors

Mr Ali Reza Sarikhani

Mr Nima Habibollah Sarikhani

Ms Ziba Christina Sarikhani

Mr John Stephen Dennis

Registered office

5 Wigmore Street
2nd Floor
London
England
W1U 1PB

Accountants

Charter Tax Consulting Limited
8th Floor
1 Southampton Street
London
United Kingdom
WC2R 0LR

 

Hambleden Capital Limited

(Registration number: 10792991)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

271,847

285,855

Investments

5

8,900

100

 

280,747

285,955

Current assets

 

Debtors

6

20,436,562

17,709,507

Cash at bank and in hand

 

1,385,258

921,172

 

21,821,820

18,630,679

Creditors: Amounts falling due within one year

7

(17,870,792)

(14,530,446)

Net current assets

 

3,951,028

4,100,233

Total assets less current liabilities

 

4,231,775

4,386,188

Creditors: Amounts falling due after more than one year

7

(4,412,835)

(3,460,781)

Net (liabilities)/assets

 

(181,060)

925,407

Capital and reserves

 

Called up share capital

10

2

2

Retained earnings

(181,062)

925,405

Shareholders' (deficit)/funds

 

(181,060)

925,407

 

Hambleden Capital Limited

(Registration number: 10792991)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 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 13 March 2025 and signed on its behalf by:
 

Mr Nima Habibollah Sarikhani
Director

Mr John Stephen Dennis
Director

 
     
 

Hambleden Capital Limited

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

1

General information

The Company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5 Wigmore Street
London
W1U 1PB
England

These financial statements were authorised for issue by the Board on 13 March 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.

These financial statements have been prepared and presented in UK Pound Sterling (£).

Group accounts not prepared

The Company has taken advantage of s399(2) of the Companies Act 2006 from preparing group accounts on the basis that the Company heads a small group.

Going concern

The financial statements have been prepared on a going concern basis.

 

Hambleden Capital Limited

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

Judgements

There have been no significant judgements made by management in the preparation of these financial statements.

Revenue recognition

Turnover comprises the value of interest receivable accrued, recharges receivable, consultancy fees receivable, shoot days provided and dividends received by the Company in the ordinary course of its activities. Turnover is shown net of returns, rebates and discounts.

The Company recognises revenue when:
- The amount of revenue can be reliably measured; and
- 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.

Finance income and interest arising from financial asset debt instruments is presented in turnover as this comprises a significant activity of the Company's operations.

Specifically:
Consultancy fees are recognised when the services have been carried out.
Shoot income is recognised when the shoot has taken place.

Finance income and costs policy

Finance and interest income is recognised on financial asset debts instruments, loans receivable, where the finance income is recognised using the effective rate of interest. Interest income comprises a significant operating activity for the Company therefore it is presented in turnover. An exception is made for finance income arising from loans adjusted to their fair value using the discounted future cash flows method where the adjustment and its subsequent unwinding are recognised in interest and other similar income.

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

Furniture, fittings and equipment

3 years straight line

Short leasehold improvements

Over the life of the lease

Motor vehicles

25% reducing balance

 

Hambleden Capital Limited

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

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.

Investments in subsidiaries and joint ventures entities are held at purchase cost less impairment.

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.

Trade debtors

Trade debtors are amounts due from customers for 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.

 

Hambleden Capital Limited

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

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments differ to the contribution due for service, the excess or deficit is recognised as an asset or liability.

Financial instruments

Classification
The Company only enters into basic financial instruments which include: Trade debtors, loans receivable, trade creditors and loans payable.
 Recognition and measurement
Financial asset and liability debt instruments are measured at their fair value less transactions costs. Subsequently, the financial instrument is measured at amortised cost with the effective rate of interest being recognised in the profit and loss.
 

 

Hambleden Capital Limited

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

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 9 (2023 - 9).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 April 2023

302,889

217,922

46,285

567,096

Additions

-

30,411

26,500

56,911

At 31 March 2024

302,889

248,333

72,785

624,007

Depreciation

At 1 April 2023

78,422

187,521

15,298

281,241

Charge for the year

42,969

19,840

8,110

70,919

At 31 March 2024

121,391

207,361

23,408

352,160

Carrying amount

At 31 March 2024

181,498

40,972

49,377

271,847

At 31 March 2023

224,467

30,401

30,987

285,855

 

Hambleden Capital Limited

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

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Investments in joint ventures

8,800

-

8,900

100

Subsidiaries

£

Cost

At 1 April 2023

100

At 31 March 2024

100

Carrying amount

At 31 March 2024

100

At 31 March 2023

100

Joint ventures

£

Cost

Additions

8,800

Provision

Carrying amount

At 31 March 2024

8,800

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

Swallowcliffe Finance Limited

5 Wigmore Street
London
W1U 1PB

England and Wales

Ordinary

100%

100%

 

Hambleden Capital Limited

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

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

Joint ventures

Exton Corporate Finance Limited

46 Gresham Street, London, EC2V 7AY

Ordinary B

50%

0%

England

Juniper Asset Management Limited

5 Wigmore Street
London
W1U 1PB

Ordinary shares

50%

0%

England

Subsidiary undertakings

Swallowcliffe Finance Limited

The principal activity of Swallowcliffe Finance Limited is fund management activities. Its financial period end is 31 December.

Joint ventures

Exton Corporate Finance Limited

The principal activity of Exton Corporate Finance Limited is litigation finance. Its financial period end is 28 February.

Juniper Asset Management Limited

The principal activity of Juniper Asset Management Limited is Fund advisory services. Its financial period end is 30 November.

6

Debtors

2024
£

2023
£

Trade debtors

338,111

101,280

Prepayments

134,866

130,585

Other debtors

19,963,585

17,477,642

 

20,436,562

17,709,507

Less non-current portion

(1,013,586)

(4,870,416)

19,422,976

12,839,091

Other debtors include loans receivable of £19,501,126 (2023 - £16,673,181) of which £864,166 (2023 - £4,720,996) are receivable in more than one year. Other debtors also includes deposits paid of £149,420 (2023 - £149,420) of which £149,420 (2023 - £149,420) is receivable in more than one year.

 

Hambleden Capital Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

286,586

221,636

Loans and borrowings

8

8,243,836

7,163,798

Accruals

 

114,232

114,673

Taxation and social security

 

32,974

41,845

Other creditors

 

9,193,164

6,988,494

 

17,870,792

14,530,446

Creditors include loans and borrowings which are secured of £1,423,456 (2023 - £6,560,028)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

4,412,835

3,460,781

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,450,578

6,560,028

Other borrowings

6,793,258

603,770

8,243,836

7,163,798

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

4,412,835

3,460,781

 

Hambleden Capital Limited

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

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £260,964 (2023 - £738,674).

Financial commitments are broken down as follows:

Commitments under loan agreements not drawn down by borrowers at the balance sheet date: £71,250 (2023: 342,000)
Obligations under an office lease lasting for a minimum of 5 years - payable within 12 months: £189,714 (2023: £206,960)
Obligations under an office lease lasting for a minimum of 5 years - payable over 12 months: £Nil (2023: £189,714)

10

Share capital

Allotted, called up and not fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

       

11

Related party transactions

Loans to related parties

2024

Joint ventures
£

Total
£

Advanced

16,340

16,340

At end of period

16,340

16,340

Terms of loans to related parties

Loans to subsidiaries are made interest free and repayable on demand.
 The company has advanced funds to a joint venture entity during the period. The loan is interest free and repayable on demand.
 

 

Hambleden Capital Limited

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

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

5,461,368

5,461,368

Advanced

9,121,585

9,121,585

Repaid

(6,929,449)

(6,929,449)

At end of period

7,653,504

7,653,504

2023

Other related parties
£

Total
£

At start of period

10,237,389

10,237,389

Advanced

2,744,585

2,744,585

Repaid

(7,520,606)

(7,520,606)

At end of period

5,461,368

5,461,368

Terms of loans from related parties

Loans from related parties are interest free and repayable on demand.


12

Non adjusting events after the financial period

During the year, the Company advanced funds totalling £998,935 to an unrelated third party as part of a convertible loan facility.

After the balance sheet date, the third party borrower entered into administration as an acquiring party withdrew from arrangements to purchase shares in the borrower.

During the financial period, the company accrued interest of £13,315, bringing the total receivable to £1,012,250. The Company now does not expect to recover the funds advanced or interest accrued.

At the balance sheet date, no conditions existed to suggest that the loan receivable should be impaired and provided against.