Company registration number 03774069 (England and Wales)
HAMILTON HEATH ESTATES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
HAMILTON HEATH ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 9
HAMILTON HEATH ESTATES LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
139,892
186,658
Investment property
5
29,243,529
28,993,054
29,383,421
29,179,712
Current assets
Debtors
6
3,971,122
3,652,918
Cash at bank and in hand
996,371
1,579,421
4,967,493
5,232,339
Creditors: amounts falling due within one year
7
(3,645,427)
(3,743,749)
Net current assets
1,322,066
1,488,590
Total assets less current liabilities
30,705,487
30,668,302
Creditors: amounts falling due after more than one year
8
(16,404,749)
(16,424,308)
Provisions for liabilities
(731,767)
(793,533)
Net assets
13,568,971
13,450,461
Capital and reserves
Called up share capital
9
100,100
3,000,100
Revaluation reserve
11,539,247
11,630,353
Profit and loss reserves
1,929,624
(1,179,992)
Total equity
13,568,971
13,450,461

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 February 2026 and are signed on its behalf by:
A Chaytow
Director
Company registration number 03774069 (England and Wales)
HAMILTON HEATH ESTATES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
Share capital
Non-distributable fair value reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 June 2023
3,000,100
9,666,126
(1,527,418)
11,138,808
Year ended 31 May 2024:
Profit and total comprehensive income
-
-
2,311,653
2,311,653
Transfers
-
1,964,227
(1,964,227)
-
Balance at 31 May 2024
3,000,100
11,630,353
(1,179,992)
13,450,461
Year ended 31 May 2025:
Profit and total comprehensive income
-
-
268,510
268,510
Dividends
3
-
-
(150,000)
(150,000)
Reduction of share capital
9
(2,900,000)
-
2,900,000
-
0
Transfers
-
(91,106)
91,106
-
Balance at 31 May 2025
100,100
11,539,247
1,929,624
13,568,971
HAMILTON HEATH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

Hamilton Heath Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 30, Eton Business Park, Radcliffe, M26 2ZS.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is principally funded through a bank term loan, a pension scheme loan and a loan from a related company. The directors have confirmed that the pension fund loan will be renewed at the end of its term on similar terms to the current loan. The related party lender has provided a letter of support confirming that it does not intend to demand repayment of the loan if doing so would result in the company being unable to meet its liabilities as they fall due. true

The company has prepared financial forecasts for the next five years which show that that it can operate within these facilities for the foreseeable future, being a period of at least 12 months from the balance sheet date.

In making their assessment, the directors have taken into account all available relevant information about the future. Accordingly, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and have therefore adopted the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Turnover is recognised at the fair value of the consideration receivable for property income including recharges recognised evenly over the period of the lease, provided in the normal course of business, and is shown net of VAT. The value of of any lease incentive is taken into account and is spread evenly over the period of the lease.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line per annum
Fixtures and fittings
10% straight line per annum
Motor vehicles
25% straight line per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

HAMILTON HEATH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date derived from consideration of rental yields and transactions for comparable properties as determined by independent valuers and the directors as considered appropriate. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.7
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 current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

HAMILTON HEATH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

HAMILTON HEATH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 6 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
7
3
Dividends
2025
2024
£
£
Final paid
150,000
-
0
HAMILTON HEATH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2024
283,571
Additions
8,983
At 31 May 2025
292,554
Depreciation and impairment
At 1 June 2024
96,913
Depreciation charged in the year
55,749
At 31 May 2025
152,662
Carrying amount
At 31 May 2025
139,892
At 31 May 2024
186,658
5
Investment property
2025
£
Fair value
At 1 June 2024
28,993,054
Additions
371,949
Revaluations
(121,474)
At 31 May 2025
29,243,529

The company owns a number of multi-let commercial properties in North West England as investments. The fair value of the investment properties was determined by external independent valuations performed in April 2024 and January 2025 on an open market value basis. Management considers that these valuations represent the fair values of the properties at 31 May 2025.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
30,506
62,153
Amounts owed by group undertakings
3,238,610
2,980,716
Other debtors
702,006
610,049
3,971,122
3,652,918
HAMILTON HEATH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
17,397
24,550
Trade creditors
157,917
77,598
Amounts owed to group undertakings
2,715,382
2,717,859
Taxation and social security
84,802
98,378
Other creditors
439,865
362,177
Accruals and deferred income
230,064
463,187
3,645,427
3,743,749

The obligations under finance leases are secured on the assets to which they relate.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loan
13,410,112
13,391,667
Obligations under finance leases
87,367
125,371
Other borrowings
2,907,270
2,907,270
16,404,749
16,424,308

The bank loan is secured over the properties (Irwell Industrial Estate, Eton Business Park, Cowm Top Business Park, Lester House and Phoenix Business Park) and is repayable within 5 years. Related companies have given cross guarantees in relation to the remaining balance of the bank loan and are also party to continuing debentures.

Other borrowings are due to a pension fund where one of the directors is a trustee. The company has provided legal charges over all its properties in favour of the trustees and at any time on or after an event of default, the trustees may enforce such security. It has been agreed that the bank loan security has priority over this loan. The directors have confirmed that the pension fund loan will be renewed at the end of its term on similar terms to the current loan.

The obligations under finance leases are secured on the assets to which they relate.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,000,100
3,000,100
100,100
3,000,100

On 7 June 2024 the company filed a special resolution to reduce the share capital from £3,000,100 to £100,100, with the resulting adjustment increasing distributable reserves by £2,900,000.

HAMILTON HEATH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 9 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Christopher Moss BSc F.C.A.
Statutory Auditor:
JS. Audit Limited
Date of audit report:
24 February 2026
11
Events after the reporting date

On 11 July 2025 the bank loan facility was increased by £2.3 million and was used together with other funds to purchase the following properties: Kay Buildings (£1 million) and land at Winnington (£1.5 million). On 20 October 2025 the property at Lester House was sold for the carrying value in the accounts (£1.95 million).

13
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Advances
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Director - Loan account
-
25,711
(25,711)
-
25,711
(25,711)
-
14
Parent company

The company's immediate parent undertaking is Hamilton Heath Property (No 2) Limited, a company incorporated in England and Wales. The company's ultimate parent undertaking is Hamilton Heath Group Limited, a company incorporated in England and Wales which is exempt from the requirement to prepare consolidated financial statements.

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