Howtin Investments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC105034

HOWTIN INVESTMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2024

HOWTIN INVESTMENTS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

HOWTIN INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	175,000	40,000
Investments	6	14,101	14,101
		----------	---------
		189,101	54,101

Current assets

Stocks		20,917	20,917
Debtors	7	3,620,614	2,701,012
Cash at bank and in hand		129,893	540,170
		-------------	-------------
		3,771,424	3,262,099

Creditors: amounts falling due within one year	8	( 816,254)		( 345,827)
		-------------		-------------
Net current assets			2,955,170	2,916,272
			-------------	-------------
Total assets less current liabilities			3,144,271	2,970,373
			-------------	-------------
Net assets			3,144,271	2,970,373
			-------------	-------------

HOWTIN INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	1,000	1,000
Revaluation reserve	( 195,087)	( 195,087)
Capital redemption reserve	99,000	99,000
Profit and loss account	3,239,358	3,065,460
	-------------	-------------
Shareholders funds	3,144,271	2,970,373
	-------------	-------------

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 comprehensive income 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 .

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

C E N Howard

Director

Company registration number: SC105034

HOWTIN INVESTMENTS 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 Scotland. The address of the registered office is Whitehall House, 33 Yeoman Shore, Dundee, DD1 4BJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, '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.

Judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described in note 3, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The only significant judgement and estimate made by the Directors is in relation to investment properties which have been valued by the Directors on a fair value basis.

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 material 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.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Tangible assets

All fixed assets are initially recorded at cost.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Properties

(i) Investment properties are valued each year by the directors on an open market basis. Any surplus or deficit arising is transferred to revaluation reserve, unless a deficit is expected to be permanent, in which case it is charged to the profit and loss account. The profit on disposal is based on book value. Where properties held for investment are appropriated to trading stock, they are transferred at market value.

(ii) Trading properties are stated at the lower of cost and net realisable value. Disposals are recognised on unconditional exchange of contracts: profits and losses arising are dealt with through the profit and loss account.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).

5. Tangible assets

	Freehold property
	£
Cost or valuation
At 1 January 2024	40,000
Additions	13,834
Revaluations	121,166
	----------
At 31 December 2024	175,000
	----------
Depreciation
At 1 January 2024 and 31 December 2024	–
	----------
Carrying amount
At 31 December 2024	175,000
	----------
At 31 December 2023	40,000
	----------

Tangible assets held at valuation

In accordance with accounting standards investment properties are stated at their fair value. The valuations were performed by a director of the company.

6. Investments

	Other investments other than loans
	£
Cost
At 1 January 2024 and 31 December 2024	14,101
	---------
Impairment
At 1 January 2024 and 31 December 2024	–
	---------

Carrying amount
At 31 December 2024	14,101
	---------
At 31 December 2023	14,101
	---------

Ashrise Properties Limited - this is a 100% owned subsidiary.

Pollock Associates Limited - there is a 33.33% interest in this company.

P H Land & Developments Limited - the company has a 40% interest in this company.

Other investments - these are investments of less than 20% in other companies which are held for their long term potential.

7. Debtors

	2024	2023
	£	£
Other debtors	3,620,614	2,701,012
	-------------	-------------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors	675,000	675,000
	----------	----------

Included within other debtors are loans to shareholders of £2,240,000.

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	795,454	308,438
Corporation tax	–	16,589
Other creditors	20,800	20,800
	----------	----------
	816,254	345,827
	----------	----------

9. Directors' advances, credits and guarantees

The shareholders have borrowed £2,240,000 from the company of which £1,380,000 were loans to Directors of the company. The loans are interest free and can be redeemed by the company on 6 months notice.

10. Related party transactions

The company is a wholly owned subsidiary of Howtin 2016 Limited. The registered office of Howtin 2016 Limited is Wilkin Chapman LLP, The Maltings, 11-15 Brayford Wharf East, Lincoln, LN5 7AY. There are the following disclosable transactions with related parties. Ashrise Properties Limited- Ashrise Properties Limited is a 100% owned subsidiary of the company. That company has issued a guarantee, dated 27 February 2004, covering the liabilities of the company. No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.