Registration number: 08450563

Hector, Lamont, Florence Associates Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 8

Hector, Lamont, Florence Associates Limited

(Registration number: 08450563)
Balance Sheet as at 31 March 2025

	Note	2025 £		2024 £
Fixed assets
Tangible assets	4		3,909		5,437
Investments	5		100		100
			4,009		5,537
Current assets
Debtors	6	5,147,436		4,552,401
Investments	7	1,017,534		976,018
Cash at bank and in hand		156,094		319,050
		6,321,064		5,847,469
Creditors: Amounts falling due within one year	8	(3,064,115)		(2,328,176)
Net current assets			3,256,949		3,519,293
Total assets less current liabilities			3,260,958		3,524,830
Provisions for liabilities			(5,000)		(21,000)
Net assets			3,255,958		3,503,830
Capital and reserves
Called up share capital	10	3,550,002		3,550,002
Retained earnings		(294,044)		(46,172)
Shareholders' funds			3,255,958		3,503,830

Hector, Lamont, Florence Associates Limited

(Registration number: 08450563)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:
 

......................................... G A Walker Director

Hector, Lamont, Florence Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

These financial statements were authorised for issue by the Board on 15 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Group accounts not prepared

The company is exempt from preparing group accounts as the group is small.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable from listed investments. Turnover is shown net of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Hector, Lamont, Florence Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	20% straight line basis

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Fixed asset investments

Fixed asset investments are stated at historical cost plus share of profits / (losses) to date less provision for any diminution in value.

Current asset investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Hector, Lamont, Florence Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest for a similar debt instrument.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

Hector, Lamont, Florence Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 April 2024	22,013	22,013
At 31 March 2025	22,013	22,013
Depreciation
At 1 April 2024	16,576	16,576
Charge for the year	1,528	1,528
At 31 March 2025	18,104	18,104
Carrying amount
At 31 March 2025	3,909	3,909
At 31 March 2024	5,437	5,437

5	Investments

	2025 £	2024 £
Investments in subsidiaries	100	100

Subsidiaries	£
Cost or valuation
At 1 April 2024	100
Carrying amount
At 31 March 2025	100
At 31 March 2024	100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2025	2024
Subsidiary undertakings
Altojosa Limited	York House, Cottingley Business Park, Bradford, BD16 1PE	Ordinary shares	100%	100%

Hector, Lamont, Florence Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current	2025 £	2024 £
Amounts owed by related parties	4,397,091	3,567,216
Prepayments	345	185
Other debtors	750,000	985,000
	5,147,436	4,552,401

7	Current asset investments

	2025 £	2024 £
Other investments	1,017,534	976,018

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Loans and borrowings	23,818	20,222
Trade creditors	994	192
Accruals and deferred income	86,202	64,161
Other creditors	2,953,101	2,243,601
	3,064,115	2,328,176

9	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Other borrowings	23,818	20,222

Hector, Lamont, Florence Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
A Ordinary Shares of £1 each	2	2	2	2
B Ordinary Shares of £1 each	650,000	650,000	650,000	650,000
C Ordinary Shares of £1 each	625,000	625,000	625,000	625,000
D Ordinary Shares of £1 each	625,000	625,000	625,000	625,000
E Ordinary Shares of £1 each	625,000	625,000	625,000	625,000
F Ordinary Shares of £1 each	625,000	625,000	625,000	625,000
G Ordinary Shares of £1 each	100,000	100,000	100,000	100,000
H Ordinary Shares of £1 each	100,000	100,000	100,000	100,000
I Ordinary Shares of £1 each	100,000	100,000	100,000	100,000
J Ordinary Shares of £1 each	100,000	100,000	100,000	100,000
	3,550,002	3,550,002	3,550,002	3,550,002

11	Related party transactions

Expenditure with and payables to related parties

2025	£
Interest free directors loan accounts	23,818

2024	£
Interest free directors loan accounts	20,222

12	Financial instruments

Financial assets measured at fair value

Current asset investments
The current asset investments are traded in active markets and the fair value has been determined using relevant open market rates.

The fair value is £1,017,534 (2024 - £976,018) and the change in value included in (profit) or loss is £45,756 (2024 - £(25,312)).