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COMPANY REGISTRATION NUMBER: 10086751
Hoxton Circle Limited
Filleted Unaudited Financial Statements
31 December 2024
Hoxton Circle Limited
Financial Statements
Year ended 31 December 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Hoxton Circle Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Investments
5
154
154
Current assets
Debtors
6
161,236
172,416
Cash at bank and in hand
208,887
336,781
---------
---------
370,123
509,197
Creditors: amounts falling due within one year
7
24,393
175,658
---------
---------
Net current assets
345,730
333,539
---------
---------
Total assets less current liabilities
345,884
333,693
---------
---------
Net assets
345,884
333,693
---------
---------
Capital and reserves
Called up share capital
8
10,902
10,902
Share premium account
135,178
135,178
Profit and loss account
199,804
187,613
---------
---------
Shareholders funds
345,884
333,693
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hoxton Circle Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 29 May 2025 , and are signed on behalf of the board by:
Mr B Westwood
Director
Company registration number: 10086751
Hoxton Circle Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A small entities, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33 % straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
This also includes directors.
5. Investments
Shares in group undertakings
Shares in participating interests
Total
£
£
£
Cost
At 1 January 2024
154
25,089
25,243
Disposals
( 25,089)
( 25,089)
----
--------
--------
At 31 December 2024
154
154
----
--------
--------
Impairment
At 1 January 2024
25,089
25,089
Disposals
( 25,089)
( 25,089)
----
--------
--------
At 31 December 2024
----
--------
--------
Carrying amount
At 31 December 2024
154
154
----
--------
--------
At 31 December 2023
154
154
----
--------
--------
The company owns 100% of the issued share capital of Hoxton Circle Inc, a company incorporated in the USA.
6. Debtors
2024
2023
£
£
Trade debtors
2,880
10,920
Amounts owed by group undertakings
156,724
154,058
Prepayments and accrued income
468
6,913
Other debtors
1,164
525
---------
---------
161,236
172,416
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
294
Accruals and deferred income
3,815
23,285
Corporation tax
18,681
19,084
Social security and other taxes
1,187
133,193
Director loan accounts
416
Other creditors
96
--------
---------
24,393
175,658
--------
---------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary A shares of £ 1 each
8,147
8,147
10,902
10,902
Ordinary B shares of £ 1 each
1,955
1,955
Ordinary C shares of £ 1 each
800
800
--------
--------
--------
--------
10,902
10,902
10,902
10,902
--------
--------
--------
--------
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
Directors loan accounts
( 416)
( 96)
----
----
----
----
The company has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with group companies that are wholly owned.