Company No: 07345225 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	708,115		716,290
Investment property	4	745,716		733,994
Investments	5	1,400,898		1,400,898
		2,854,729		2,851,182
Current assets
Cash at bank and in hand		53,397		37,334
		53,397		37,334
Creditors: amounts falling due within one year	6	( 1,161,663)		( 1,062,173)
Net current liabilities		(1,108,266)		(1,024,839)
Total assets less current liabilities		1,746,463		1,826,343
Creditors: amounts falling due after more than one year	7	( 350,003)		( 370,761)
Net assets		1,396,460		1,455,582
Capital and reserves
Called-up share capital		1,000		1,000
Profit and loss account		1,395,460		1,454,582
Total shareholders' funds		1,396,460		1,455,582

For the financial 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 financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Hanmer Holdings Limited (registered number: 07345225) were approved and authorised for issue by the Board of Directors on 15 September 2025. They were signed on its behalf by:

David Nicholas Frank Hanmer Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hanmer Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Elliott House, Church Street, Kingsbridge, TQ7 1BY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings

0 - 50 years straight line

Depreciation is charged on the proportion of the freehold land and buildings which is deemed to be classed as buildings at a rate of 2% per year. The remaining proportion is land, which is not depreciated.

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 or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments, including investments in subsidiaries, are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Land and buildings		Total
	£		£
Cost
At 01 January 2024	817,499		817,499
At 31 December 2024	817,499		817,499
Accumulated depreciation
At 01 January 2024	101,209		101,209
Charge for the financial year	8,175		8,175
At 31 December 2024	109,384		109,384
Net book value
At 31 December 2024	708,115		708,115
At 31 December 2023	716,290		716,290

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	733,994
Additions	11,722
As at 31 December 2024	745,716

Valuation

The 2024 valuation was made by the directors on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

	2024		2023
	£		£
Historic cost	632,926		618,694

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	1,400,898
At 31 December 2024	1,400,898
Carrying value at 31 December 2024	1,400,898
Carrying value at 31 December 2023	1,400,898

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans (secured)	19,423		18,089
Amounts owed to Group undertakings	980,881		832,296
Amounts owed to directors	159,173		210,337
Accruals	2,186		1,451
	1,161,663		1,062,173

Bank loans are secured over the property in which they relate to, along with a fixed and floating charge over the company's assets.

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans (secured)	160,003		180,761
Other creditors	190,000		190,000
	350,003		370,761

Included within loans are preference shares issued by Hanmer Holdings Limited with a nominal value of £1 each. There were 450,000 A and 450,000 B Redeemable Preferences shares allotted in July 2018 and in the year 100,000 A shares (2022: 100,000) and 0 B shares were redeemed (2022: 100,000). These preference shares are entitled to a cumulative preferential cash dividend of 0.01% annually. These shares carry no voting rights and in the event of winding up the holders of preference shares will be paid, in respect of each share, the subscription price paid including any premium and dividend arrears.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2024		2023
	£		£
Bank loans (secured / repayable by instalments)	119,680		143,571

Bank loans are secured over the property in which they relate to, along with a fixed and floating charge over the company's assets.

8. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Directors' loan account	159,173		177,032

Other related party transactions

	2024		2023
	£		£
Amount owed to subsidiary (creditor)	980,881		832,296