Company registration number 11229056 (England and Wales)
HANNARD INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
HANNARD INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
HANNARD INVESTMENTS LTD
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors falling due after more than one year
2
2,441,153
3,554,562
Debtors falling due within one year
2
1,819,802
1,511,152
Cash at bank and in hand
1,638,703
855,515
5,899,658
5,921,229
Creditors: amounts falling due within one year
3
(5,009,116)
(5,362,017)
Net current assets
890,542
559,212
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
890,442
559,112
Total equity
890,542
559,212

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 May 2025 and are signed on its behalf by:
Mrs H E Bergin
Miss R H Coombe
Director
Director
Mr R J Coombe
Mrs J Coombe
Director
Director
Company registration number 11229056 (England and Wales)
HANNARD INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Hannard Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, United Kingdom, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is reliant on funding from all of its directors.  On the basis of the directors’ commitment to provide continued support, they consider it appropriate to prepare the financial statements on the going concern basis.  The financial statements do not include any adjustments that would result from a withdrawal of this support.

1.3
Income recognition

Income from guarantee and facility fees is recognised on a straight line basis over the expected duration of the arrangement.  Interest income is recognised on an accruals basis.

1.4
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HANNARD INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
2
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,819,802
1,511,152
2025
2024
Amounts falling due after more than one year:
£
£
Trade debtors
2,441,153
3,554,562
Total debtors
4,260,955
5,065,714
3
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
3,400
2,983
Taxation and social security
111,085
75,403
Other creditors
4,894,631
5,283,631
5,009,116
5,362,017

Creditors include balances of £4,294,632 (2024: £4,763,632) owed to directors and £600,000 (2024: £520,000) owed to Hannard Holdings Limited, a company owned by one of the directors.

4
Related party transactions

Adpad (Okehampton) Limited

The company continued to grant loans, on a commercial basis, to Adpad (Okehampton) Limited, a company registered in England and Wales. One of the directors of Hannard Investments Ltd holds a beneficial interest in the share capital of Adpad (Okehampton) Limited.

 

During the year to 31 March 2025 the company advanced loans of £2,296,048 and received repayments of £3,038,331. The total amount due to the company at the balance sheet date was £3,015,900 (2024: £3,536,118). The loans are secured on freehold property owned by Adpad (Okehampton) Limited and are repayable not later than 31 March 2028.

 

During the period, the company charged Adpad (Okehampton) Limited a commercial rate of interest and fees, totalling £222,065, on loan balances outstanding (2024: £171,204).

 

Directors' guarantees

The company has underwritten a personal guarantee made by two directors. The total amount underwritten in connection with the personal guarantees was £294,500.

 

During the previous period £107,250 of the guaranteed amount was released and the balance remaining underwritten by the company at 31 March 2025 was £187,250 (2024: £187,250). The company receives fees at a commercial rate in connection with underwriting the balance. In the period the total fees charged were £17,044 (2024: £18,896).

 

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