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Registered number: 09903982
HOOKMILL PROPERTIES UK LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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HOOKMILL PROPERTIES UK LIMITED
REGISTERED NUMBER: 09903982
BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 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 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 by:
The notes on pages 3 to 8 form part of these financial statements.
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HOOKMILL PROPERTIES UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Comprehensive income for the year
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
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Comprehensive income for the year
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The notes on pages 3 to 8 form part of these financial statements.
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HOOKMILL PROPERTIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Hookmill Properties UK Limited ("the Company") was incorporated on 7 December 2015 in England and Wales with its registered office at 14a Rosebery Avenue, Clerkenwell, London, EC1R 4TD. The Company is a wholly owned subsidiary of Hookmill Limited, a private limited company registered in Ireland. The Company's principal activity is the letting of property.
The financial statements comprising the Profit and Loss Account, the Statement of Comprehensive Income, the Balance sheet, the Statement of Changes in Equity, and the related notes constitute the individual financial statements of Hookmill Properties UK Limited for the financial year ending 31 December 2024.
The significant accounting policies adopted by the Company and applied consistently in the preparation of these financial statements are set out below.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company's activities, together with the factors likely to affect its future development, performance and position are set out in the directors' report. The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
Accordingly, the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.
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HOOKMILL PROPERTIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
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FOREIGN CURRENCY TRANSLATION
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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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue 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. Revenue 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:
Rental Income
Turnover comprises rents receivable accounted for on the accruals basis.
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.
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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HOOKMILL PROPERTIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
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CASH AND CASH EQUIVALENTS
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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.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY
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The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.
Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year are the valuation of investment property. The Company revalue their investment property to fair value each year to minimise any risk of misstatement.
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The Company has no employees other than the Directors, who did not receive any remuneration (2023 - £NIL).
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HOOKMILL PROPERTIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Long term leasehold investment property
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The 2024 valuations were made by the Directors, on an open market value for existing use basis.
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Corporation tax repayable
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Included within other debtors is amounts due from a connected company. Refer to Note 12 for details.
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CASH AND CASH EQUIVALENTS
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HOOKMILL PROPERTIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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CREDITORS: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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The parent company will continue to provide financial assistance to the Company as and when required such that the Company can discharge its debts and meet its obligations as they are scheduled to fall due.
Borrowings from the parent undertaking and other related parties are unsecured, interest free and repayable on demand. However, repayment will not be sought for a period of at least twelve months from the date of the approval of these financial statements unless Company funds permit otherwise.
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Allotted, called up and fully paid
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100 (2023 - 100) Ordinary shares of £1.00 each
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HOOKMILL PROPERTIES UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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RELATED PARTY TRANSACTIONS
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The Company has availed of the exemption stated in FRS102 section 33.1A, in relation to the disclosure of transactions entered into between members of a group. All subsidiaries which are a party to these transactions are wholly owned members of Hookmill Limited and hence a disclosure exemption has been availed of.
Included within other debtors is an amount due from Dynamic Resources International Limited (DRI), a company connected by common ownership and control. At the beginning of the year £217,339 was receivable. During the year £110,295 (VAT incl.) was charged as rent to DRI, £90,000 was paid to DRI, £84,000 was advanced by DRI, and DRI recharged expenses of £5,581. At year end £300,778 was receivable from DRI.
The following amounts were (payable)/receivable at the year end:
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Dynamic Resources International Limited
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Dynamic Retail Services Limited
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Loans from and to related parties are unsecured, interest free and repayable on demand.
The Directors are the key management personnel in the Company.
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POST BALANCE SHEET EVENTS
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There have been no significant events affecting the Company since the year end.
The Company is a wholly owned subsidiary of Hookmill Limited, a company registered in the Republic of Ireland. These companies are ultimately controlled by Gerard Walsh.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 26 September 2025 by Brian Geraghty (Senior Statutory Auditor) on behalf of Crowe Ireland.
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