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REGISTERED NUMBER: 06867406 (England and Wales)















Financial Statements for the Year Ended 30 September 2024

for

Hollybrook Limited

Hollybrook Limited (Registered number: 06867406)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

Hollybrook Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr D M Cox
Miss V A Cox
Mr M Cox





SECRETARY: Miss V A Cox





REGISTERED OFFICE: 19 Queen Elizabeth Street
London
SE1 2LP





REGISTERED NUMBER: 06867406 (England and Wales)





ACCOUNTANTS: Gibsons Financial Limited
Chartered Accountants
Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY

Hollybrook Limited (Registered number: 06867406)

Abridged Balance Sheet
30 September 2024

30/9/24 30/9/23
Notes £ £
FIXED ASSETS
Tangible assets 4 86,397 113,466

CURRENT ASSETS
Debtors 5 1,782,165 1,924,411
Cash at bank and in hand 309,823 1,665,508
2,091,988 3,589,919
CREDITORS
Amounts falling due within one year (556,308 ) (671,980 )
NET CURRENT ASSETS 1,535,680 2,917,939
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,622,077

3,031,405

CREDITORS
Amounts falling due after more than one
year

(3,171,286

)

(3,085,901

)

PROVISIONS FOR LIABILITIES 6 (2,701,590 ) (2,701,590 )
NET LIABILITIES (4,250,799 ) (2,756,086 )

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 8 (4,251,799 ) (2,757,086 )
SHAREHOLDERS' FUNDS (4,250,799 ) (2,756,086 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Hollybrook Limited (Registered number: 06867406)

Abridged Balance Sheet - continued
30 September 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 12 June 2025 and were signed on its behalf by:





Mr M Cox - Director


Hollybrook Limited (Registered number: 06867406)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Hollybrook 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.

2. ACCOUNTING POLICIES

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

The company has reported a net loss of £1.5m for the year.

The company relies on the support of its ultimate parent undertaking to be able to meet some of its costs.

At the Balance Sheet date the company's total liabilities exceeded its total assets by £4,25m The company's main financier is its parent undertaking which was owed £3.1m at the Balance Sheet date. The board of the company's parent have provided written assurance of an intention to continue to support the company for the foreseeable future.

The company's directors consider that, with the continued support of its parent undertaking, the company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.The directors however acknowledge that there can be no certainty concerning continuing support from its parent undertaking although at the date of approval of these financial statements they have no reason to believe that a change in the stated intention of continued support will occur.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Hollybrook Limited (Registered number: 06867406)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of these financial statements requires the directors to note judgements and estimates that affect the reported amount of assets and liabilities at the balance sheet date and the reported profits for the financial year.

(i) Contract income and profit - the valuation of percentage completion of contracts involves an estimation of the costs to complete and remaining revenues which may differ from the actual costs incurred and total revenues received on completion. Judgement is required to assess whether the total eventual profit on each contract can be foreseen with reasonable certainty.

(ii) Provisions - the cost of additional works that may be incurred on completed projects in the ordinary course of business is based on the Directors' best estimate. Assumptions are made in arriving at these estimates. The company's historical experience and site-sepcific risks are some of the factors that the Directors take into account. Provisions are continually reviewed and adjusted by reference to the passage of time and the availability of more information.

(iii) Impairment of Debtors - the provision policy for impairment of amounts owing to the company, including financial instrument assets, is based on an ongoing evaluation of the collectability, aged analysis of the various amounts and the Directors' judgement. A considerable amount of judgement is required in assessing the ultimate realisation of these balances.

Estimates and judgements are continually evaluated and are based on a number of factors including historical experience and expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Revenue is recognised to the extent that it is probable that economic benefits will flow to the company and the revenue can be measured reliably.

Turnover relates to contract income; proceeds from the sale of properties and; related activities during the period. Contract Turnover is calculated by reference to the value of work performed to date as a proportion of the total contract value. This is usually based on independent professional surveys of work performed. Provision is made for the full amount of foreseeable losses on contracts. Turnover in respect of the sale of properties is recognised at the fair value of the consideration received or receivable on legal completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, fixtures & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 25% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by the directors.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit and loss.

Hollybrook Limited (Registered number: 06867406)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year relates to current tax which is recognised in the Income Statement. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantially enacted by the balance sheet date.

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.

Pension costs and other post-retirement benefits
The company operates a defined contributions workplace pension scheme for the benefit of its qualifying employees.The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable in any one year are accounted for as they fall due.

Management fees
Management fees in relation to consulting services provided to related entities operating in the property development sector, calculated by reference to time spent by the company's employees on relevant projects, are recognised as revenue, as earned, within the income statement.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like amounts recoverable on contracts, other debtors, trade and other creditors, loans from banks and other third parties and loans to related parties.

Debt instruments, other than those wholly repayable or receivable within one year, including loans and other amounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments which are payable or receivable within one year are measured at the undiscounted amount of the cash consideration expected to be paid or received.

Hollybrook Limited (Registered number: 06867406)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Borrowing costs
Borrowing costs are recognised in the Statement of Comprehensive income as they are incurred.

Borrowing costs directly relating to the acquisition and development of own sites are capitalised. Capitalisation commences from the date of initial expenditure until the properties are ready for sale. The capitalisation of borrowing costs is suspended where there are prolonged periods when development activity on a site is interrupted.

Operating leases
Rentals payable under operating leases are charged to the income statement as incurred..

Provisions
Provisions are recognised when the company has a present legal or constructive obligation as result of a past event and it is probable that the company would be required to settle that obligation. Provisions are measured at the Directors' best estimate of the expenditure required to settle the obligation at the balance sheet date.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances in hand and at bank including deposits and other short-term liquid investments with maturities of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 October 2023 600,226
Additions 2,885
Disposals (11,557 )
At 30 September 2024 591,554
DEPRECIATION
At 1 October 2023 486,760
Charge for year 28,797
Eliminated on disposal (10,400 )
At 30 September 2024 505,157
NET BOOK VALUE
At 30 September 2024 86,397
At 30 September 2023 113,466

Hollybrook Limited (Registered number: 06867406)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30/9/24 30/9/23
£ £
Other debtors 856,864 -

6. PROVISIONS FOR LIABILITIES
30/9/24 30/9/23
£ £
Other provisions 2,701,590 2,701,590

Other
provisions
£
Balance at 1 October 2023 2,701,590
Balance at 30 September 2024 2,701,590

Other provisions are the Directors' best estimate of additional costs that may be incurred in the ordinary course of business on completed projects. These provisions are made based on the company's historical experience and also take account of site-specific risks. Actual costs may be different An over- or understatement in these provisions would lead to consequential changes in cost of sales, gross and net loss reported for the year.

The timing of the outflow of resources to which these provisions relate is uncertain but it is anticipated that such an outflow will commence from a date beyond twelve months from the date of approval of these financial statements.

The amount of the provisions which is recoverable from third parties by the company is included within Debtors.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30/9/24 30/9/23
value: £ £
1,000 Ordinary £1 1,000 1,000

Attached to the shares are a right to vote in general meetings, a right to receive dividends if declared by the company and a right to participate in distributions of capital, including on winding up.The shares do not confer any right of redemption.

Hollybrook Limited (Registered number: 06867406)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. RESERVES
Retained
earnings
£

At 1 October 2023 (2,757,086 )
Deficit for the year (1,494,713 )
At 30 September 2024 (4,251,799 )

9. CONTINGENT LIABILITIES

Provisions are recognised when an outflow of economic benefits for settlement is probable and the amount can be reliably estimated. Based upon legal and expert advice, provisions have been made where notices have been received in connection with fire safety defects on historical projects.

Although a review of historical projects has been undertaken and the expectation is that the prospect of receiving further notices will diminish over time, the possibility of further notices cannot be entirely ruled out. As at the date of approval of these financial statements, it is not possible to provide a meaningful estimate of the financial effect of any further notices as this will be largely driven by site-specific circumstances in each case.

Furthermore, if further notices are received which eventually lead to an outflow of resources, such outflow is highly unlikely to occur within twelve months from the date of approval of these financial statements due to the length of time required to receive and consider relevant technical advice and the fact that any works found to be necessary are typically carried out and paid for over a period of time.

10. RELATED PARTY DISCLOSURES

Transactions during the year with entities directly controlled by the company's Directors included Other Income of £467,296 of which £382,332 was accrued at the Balance Sheet date and; fees payable of £166,306.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Hollybrook Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hollybrook Limited for the year ended 30 September 2024 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Hollybrook Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hollybrook Limited and state those matters that we have agreed to state to the Board of Directors of Hollybrook Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hollybrook Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hollybrook Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hollybrook Limited. You consider that Hollybrook Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hollybrook Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Gibsons Financial Limited
Chartered Accountants
Foresters Hall
25/27 Westow Street
Upper Norwood
London
SE19 3RY


12 June 2025