Company No: 02043323 (England and Wales)

Contents

• Company Information
• Directors' Report
• Directors' Responsibilities Statement
• Accountants' Report
• Profit and Loss Account
• Balance Sheet
• Notes to the Financial Statements
• Detailed Profit and Loss Account

DIRECTORS	A M Hill
	P Hill
	S A Hill
	M Raisey
	R C Raisey FCCA

SECRETARY

R C Raisey FCCA

REGISTERED OFFICE	11 High Street
	Taunton
	Somerset
	TA1 3PQ
	United Kingdom

COMPANY NUMBER

02043323 (England and Wales)

CHARTERED ACCOUNTANTS	Albert Goodman LLP
	Goodwood House
	Blackbrook Park Avenue
	Taunton
	Somerset
	TA1 2PX

The directors present their annual report and the unaudited financial statements of the Company for the financial year ended 30 April 2025.

PRINCIPAL ACTIVITIES

The principal activity of the Company during the financial year was provision of services to its subsidiary undertaking.

DIRECTORS

The directors, who served during the financial year and to the date of this report except as noted, were as follows:

A M Hill
P Hill
S A Hill
M Raisey
R C Raisey FCCA

SECRETARY

The secretary, who served during the financial year and to the date of this report except as noted, was as follows:

R C Raisey FCCA

This Directors' Report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption provided by section 415A of the Companies Act 2006.

Approved by the Board of Directors and signed on its behalf by:

S A Hill Director

M Raisey Director

20 October 2025

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that financial period.

In preparing these financial statements, the directors are required to:
* Select suitable accounting policies and then apply them consistently;
* Make judgements and accounting estimates that are reasonable and prudent; and
* Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hovelands Limited for the financial year ended 30 April 2025 which comprise the Profit and Loss Account, the Balance Sheet and the related notes 1 to 4 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 at www.icaew.com/regulation.

It is your duty to ensure that Hovelands 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 profit of Hovelands Limited. You consider that Hovelands Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Hovelands 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.

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

Albert Goodman LLP
Chartered Accountants

Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

20 October 2025

		2025		2024
		£		£
Administrative expenses		( 980)		( 2,962)
Operating loss		( 980)		( 2,962)
Income from shares in a Group undertaking		118,473		111,735
Profit before interest and taxation		117,493		108,773
Interest payable and similar expenses		( 9,020)		( 10,457)
Profit before taxation		108,473		98,316
Tax on profit		0		0
Profit for the financial year		108,473		98,316

	Note	2025		2024
		£		£
Fixed assets
Investments	3	772,386		772,386
		772,386		772,386
Current assets
Cash at bank and in hand		7,512		2,742
		7,512		2,742
Creditors: amounts falling due within one year	4	( 549,734)		( 551,681)
Net current liabilities		(542,222)		(548,939)
Total assets less current liabilities		230,164		223,447
Net assets		230,164		223,447
Capital and reserves
Called-up share capital		10,000		10,000
Capital redemption reserve		60,000		60,000
Profit and loss account		160,164		153,447
Total shareholders' funds		230,164		223,447

For the financial year ending 30 April 2025 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 in accordance with the provisions applicable to companies subject to the small companies regime of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A – small entities.

The financial statements of Hovelands Limited (registered number: 02043323) were approved and authorised for issue by the Board of Directors on 20 October 2025. They were signed on its behalf by:

S A Hill Director

M Raisey 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

Hovelands 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 11 High Street, Taunton, Somerset, TA1 3PQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 are measured at cost less impairment.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 May 2024	772,386
At 30 April 2025	772,386
Carrying value at 30 April 2025	772,386
Carrying value at 30 April 2024	772,386

4. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to Group undertakings	366,482		366,447
Other creditors	183,252		185,234
	549,734		551,681

	2025		2024
	£		£
Administrative expenses
Wages and salaries	0		( 2,000)
Bank charges	( 55)		( 62)
Accountancy fees	( 925)		( 900)
	(980)		(2,962)
Operating loss	( 980)		( 2,962)
Income from shares in a Group undertaking	118,473		111,735
Profit before interest and taxation	117,493		108,773
Interest payable and similar expenses
Other interest payable	( 9,020)		( 10,457)
Profit before taxation	108,473		98,316