Holetown Group Limited

(Registration number: 06347628)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment in subsidiaries	4	-	-
Current assets
Debtors	5	-	-
Cash at bank and in hand		66,723	64,477
		66,723	64,477
Creditors: amounts falling due within one year	6	(25,680)	(39,733)
Net current assets		41,043	24,744
Total assets less current liabilities		41,043	24,744
Creditors: amounts falling due after more than one year	6	(12,742,569)	(12,564,280)
Net liabilities		(12,701,526)	(12,539,536)
Capital and reserves
Called up share capital	7	995,024	995,024
Profit and loss account		(13,696,550)	(13,534,560)
Shareholders' deficit		(12,701,526)	(12,539,536)

For the financial year ended 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The statement of comprehensive income and directors' report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved and authorised for issue by the Board on 23 December 2025 and signed on its behalf by:
 

......................................... B W Ritchie Director

Holetown Group 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 shares, which is incorporated and operates in England, while its subsidiary undertakings are registered and operate in Barbados. The registered office is shown on page 1.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

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

Exemption from preparing consolidated financial statements
 

The Company is exempt from the requirement to prepare consolidated financial statements by virtue of the exemption available under section 398 of the Companies Act 2006, as the group it heads qualifies as a small group in respect of the financial period. These financial statements therefore present information about the Company as an individual undertaking and not about its group.

Judgements in applying accounting policies and key sources of estimation uncertainty
 

The preparation of financial statements in compliance with FRS 102 Section 1A Small Entities requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. However, no significant estimates or judgements were necessary in the preparation of these financial statements.

Summary of significant accounting policies
 

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.

Going concern
 

These financial statements have been prepared on a going concern basis, which assumes that the Company will continue to meet its liabilities when they fall due for the foreseeable future, being a period of at least 12 months from the date on which these financial statements are approved. The directors have prepared cash flow forecasts for operating costs which are to be met through existing cash reserves and further shareholder loans.

The shareholders of the Company have confirmed in writing their current intention to make further funds available if necessary to ensure that the Company continues to meet its operating costs for at least twelve months from signing the financial statements. As such, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The directors note that this does not represent a contractual commitment to provide funds.

The Company holds investments in subsidiaries which hold land which if sold may lead to the investor contributions being repayable on demand. The directors acknowledge that if such a sale were to be undertaken at net book value sufficient proceeds would not be generated in order to satisfy the investor contributions that may become payable by the Company or the loans due to the shareholders.

Holetown Group Limited

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

2	Accounting policies (continued)

Foreign currency translation
 

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to profit or loss. Any non-monetary items that are initially measured at historic cost in a foreign currency are not re-translated at each reporting date.

Tax
 

The tax expense for the year comprises of current and deferred tax, where applicable.

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.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against suitable 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 they are expected to apply to the reversal of timing difference.

Current and deferred tax assets and liabilities are not discounted.

Investment in subsidiaries
 

Investments in subsidiaries are measured in the Company's balance sheet at cost less any accumulated impairment. Any impairment movements are included in profit or loss.

An entity is treated as a subsidiary where the Company has the power to govern the financial and operating policies of the investee entity so as to obtain benefits from its activities.

Financial instruments
 

Financial liabilities and equity are classified according to the substance of the financial instruments contractual obligations, rather than its legal form.

Trade and other debtors
 

Short term debtors are initially measured at transaction price (including transaction costs) and are subsequently held at cost 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.

Cash at bank and in hand
 

Cash is represented by deposits held with financial institutions repayable without penalty on notice of not more than 24 hours.

Holetown Group Limited

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

2	Accounting policies (continued)

Trade and other creditors
 

Short term creditors are initially measured at the transaction price and subsequently at amortised cost. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Trade and other creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

3	Director information

The Company had 3 directors during the year (2024 - 3). The directors did not receive any remuneration in the year (2024 - £nil).

4	Investment in subsidiaries

Details of the investment in subsidiaries are as follows:

Name	Country of incorporation	Principal activity
P.R.R.I. Investments Limited	Barbados	Intermediate holding company
Seaside Developments Limited	Barbados	Intermediate holding company
Holetown Property Holdings Limited	Barbados	Intermediate holding company
Vauxhall Development Co Limited	Barbados	Property development
Coastal Development and Property Limited	Barbados	Property development
BJSB Limited	BVI (redomiciled in Barbados)	Property financing and development

The Company owns 100% of the ordinary shares in each case and holds a direct interest in P.R.R.I. Investments Limited at an impaired cost of £nil (2024 - £nil). All other subsidiaries are held indirectly.

All subsidiaries operate in Barbados and their registered address is The Financial Services Centre, Bishop's Court Hill, St Michael, Barbados.

5

Debtors

The Company is owed £11,752,708 (2024 - £11,562,362) from the subsidiary undertakings shown in note 4. The amounts are unsecured, non interest bearing and have been impaired to £nil (2024 - £nil) to reflect the net liabilities in those undertakings.

Holetown Group Limited

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

6

Creditors

	2025 £	2024 £
Due within one year
Trade creditors	9,000	23,113
Accruals	16,680	16,620
	25,680	39,733