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Registered Number:04593960













HINES ASSOCIATES LTD.





FINANCIAL STATEMENTS
 
PAGES FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2025











 
HINES ASSOCIATES LTD.
 


CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 11



 
HINES ASSOCIATES LTD.
REGISTERED NUMBER:04593960


BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024 as restated
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,028
14,758

Investments
 5 
10,000
340,000

  
23,028
354,758

Current assets
  

Debtors: amounts falling due within one year
 6 
302,287
1,836,080

Current asset investments
 7 
3,136,087
1,539,187

Cash at bank and in hand
  
4,821,184
1,123,893

  
8,259,558
4,499,160

Creditors: amounts falling due within one year
 8 
(2,026,959)
(394,301)

Net current assets
  
 
 
6,232,599
 
 
4,104,859

Total assets less current liabilities
  
6,255,627
4,459,617

Provisions for liabilities
  

Deferred tax
 9 
(3,244)
(3,625)

Other provisions
 10 
(334,200)
-

  
 
 
(337,444)
 
 
(3,625)

Net assets
  
5,918,183
4,455,992


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
5,908,183
4,445,992

  
5,918,183
4,455,992



- 1 -



 
HINES ASSOCIATES LTD.
REGISTERED NUMBER:04593960

    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provision of FRS102 Section 1A - small entities.

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

The Company has opted not to file the Directors' Report nor the Profit and Loss Account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 July 2025.




Mr R Hines
Director


- 2 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

Hines Associates Ltd is a private company limited by share capital incorporated in England and Wales, registration number 04593960. Its registered office is 42 Carlyle Square, London, SW3 6HA. Its principal activity is providing corporate finance advice.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The comparatives in respect of amounts owed on preference shares have been restated to disclose them as amounts due within one year as they are repayable on demand. This has no effect on the reported result for the prior period nor the prior period closing reserves. 
The comparatives in respect of the revaluation of treasury gilts have also been restated on the grounds of comparability. This has also had no effect on the reported result for the prior year nor the prior period closing reserves. The revaluation is now disclosed on the face of the Profit and Loss Account as a financial instrument fair value movement, on the basis the gilts have been entered into for their potential to increase in value.

The following principal accounting policies have been applied:

 
2.2

Tangible fixed assets

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 management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives are as follows:

Office equipment
-
3 years.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


- 3 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Due to the nature of the work the company performs, it may receive further contingent amounts due upon future payments to the shareholders of companies it has helped to sell. These contingent amounts are based on future performance over which the company has limited visibility and no control, and therefore these are not recognised as revenue unless there is a high degree of certainty over their realisation.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Investments of a short-term nature are classed as current asset investments.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.6

Statement of cash flows

The directors have taken advantage of the exemption in Financial Reporting Standard 102 from including a statement of cash flows in the financial statements on the grounds that the company is small.


- 4 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.7

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.


- 5 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.8

Financial instruments

The company only enters into basic financial instuments transactions that result in the recognition  of financial assets and liabilities like trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in ordinary shares.
Financial assets and liabilities are measured at transaction price and are assessed at the end of reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account. 
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the compnay would receive for the asset if it were to be sold at the reporting date.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account.

All foreign exchange gains and losses are presented in the Profit and Loss Account within ''Administration expenses'.


- 6 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax is provided on all material timing differences which have originated but not reversed by the reporting date. Deferred tax balances are not discounted. 
Deferred tax is calculated using 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. 


  
2.13

Consolidation

The company when combined with its subsidiary qualifies as a small group and thus has taken advantage of the available exemptions in order not to prepare consolidated financial statements.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year/period was 12 (2024 - 11).


- 7 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2024
67,992


Additions
8,242



At 31 March 2025

76,234



Depreciation


At 1 April 2024
53,234


Charge for the year on owned assets
9,972



At 31 March 2025

63,206



Net book value



At 31 March 2025
13,028



At 31 March 2024
14,758


5.


Fixed asset investments





Investment in related entity

£



Cost or valuation


At 1 April 2024
340,000


Disposals
(330,000)



At 31 March 2025
10,000





6.


Debtors

2025
2024
£
£


- 8 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

6.Debtors (continued)


Trade debtors
61,610
159,564

Other debtors
31,010
32,810

Prepayments and accrued income
209,667
1,643,706

302,287
1,836,080



7.


Current asset investments

2025
2024
£
£

Treasury gilts
3,136,087
1,539,187

3,136,087
1,539,187



8.


Creditors: Amounts falling due within one year

2025
Restated 2024
£
£

Trade creditors
49,614
31,963

Corporation tax
518,067
53,887

Other taxation and social security
1,387,387
135,222

Other creditors
32,986
24,656

Accruals and deferred income
23,905
133,573

Preference shares
15,000
15,000

2,026,959
394,301


There are 15,000 preference shares in issue. The preference shares are redeemable and non cumulative with a coupon of 10% per annum paid on 1 January and 1 July each year, to be approved by the directors. The preference shares do not carry any voting rights except on the consideration of a resolution directly affecting the rights of the preference shares. The voting rights will only extend to any such resolutions.


9.


Deferred taxation


- 9 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
 
9.Deferred taxation (continued)




2025


£






At beginning of period
(3,625)


Charged to profit or loss
381



At end of period
(3,244)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(3,244)
(3,625)

(3,244)
(3,625)


10.


Provisions




Lease provision

£





Charged to profit or loss
334,200



At 31 March 2025
334,200

The provision relates to an onerous lease that gave rise to an obligation at the Balance Sheet date. Whilst there is some inherent uncertainty regarding the quantum of the provision, the directors feel that this can be computed with sufficient reliability to allow for the provision to be included within these financial statements.


11.


Pension commitments

The pension cost charge represents contributions payable by the company and amounted to £46,865 (2024 - £26,548).


- 10 -



 
HINES ASSOCIATES LTD.
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

12.


Commitments under operating leases

At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
186,059
147,645

Later than 1 year and not later than 5 years
124,039
-

310,098
147,645


13.


Related party transactions

Included within other creditors is a loan balance of £5,364 (2024 - £12,043) in respect of the directors. The maximum balance owed by the directors during the period was £46,064 (2024 - £39,825). No interest arose on this balance during either the current year or prior period.


14.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 22 July 2025 by Piers Harrison (Senior Statutory Auditor) on behalf of Sumer Auditco Limited.


- 11 -