HCI Wooden Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11017323 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

HCI WOODEN LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,094

976

Investments

5

40,380,000

52,257,080

40,381,094

52,258,056

CURRENT ASSETS

Stocks

6

13,197,385

11,907,355

Debtors

7

182,103

852,717

Cash at bank

8

12,710,594

1,211,213

26,090,082

13,971,285

CREDITORS

Amounts falling due within one year

9

(167,055

)

(28,230

)

NET CURRENT ASSETS

25,923,027

13,943,055

TOTAL ASSETS LESS CURRENT
LIABILITIES

66,304,121

66,201,111

CREDITORS

Amounts falling due after more than one
year

10

(5,672,430

)

(5,444,930

)

NET ASSETS

60,631,691

60,756,181

CAPITAL AND RESERVES

Called up share capital

11

1,001

Share premium

53,599,000

Capital redemption reserve

9,000,000

Retained earnings

(1,968,310

)

(1,843,820

)

SHAREHOLDERS' FUNDS

60,631,691

60,756,181

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 June 2026 and were signed by:

M M Fernandez - Director

1.	STATUTORY INFORMATION

HCI Wooden Limited is a private company (limited by shares) incorporated and domiciled in England and Wales.

The principal activity of the company is holding investments.

The address of the registered office is 2nd Floor, 55 Ludgate Hill, London, United Kingdom, EC4M 7JW.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern

The director considers the going concern basis to be appropriate having paid due regard to the company's projected results during the twelve months from the date the financial statements are approved and the anticipated cash flows, availability of bank facilities and mitigating actions that can be taken during that period.

Foreign currency translation

Functional and presentational currency

The company's functional and presentational currency is Euros.

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.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment - 33% per year

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Valuation of investment loans

Investments in loans are measured at cost less any impairment. Any losses on remeasurement are recognised in the profit or loss for the period.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

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

Creditors

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.

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is not applied when its impact is considered immaterial. This applies to financial instruments such as the Company's cash and cash equivalents, trade receivables, and most other receivables that are due within the normal operating cycle.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified based on the substance of the contractual arrangements rather than their legal form. 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, including trade and other payables, bank loans, and other borrowings, are initially measured at their transaction price, including transaction costs. Where the arrangement constitutes a financing transaction, the liability is measured at the present value of future payments, discounted at a market rate of interest for a similar debt instrument. Discounting is not applied where the effect is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

The company has entered into a complex financial instrument, whereby the return is based upon the underlying performance of the counterparty. This instrument would meet the definition of a complex financial instrument and be carried at fair value with changes recognised in profit or loss. Where a reliable measure of fair value cannot be determined, the instrument is measured at historical cost, less any impairments, until such time as a reliable measure of fair value can be made.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

€

Cost

At 1 January 2025

2,898

Additions

1,633

At 31 December 2025

4,531

Depreciation

At 1 January 2025

1,922

Charge for year

1,515

At 31 December 2025

3,437

Net book value

At 31 December 2025

1,094

At 31 December 2024

976

5.	FIXED ASSET LOAN INVESTMENTS

Listed

Unlisted

investments

Totals

€

Cost or valuation

At 1 January 2025

11,877,080

40,380,000

52,257,080

Additions

2,064,212

-

2,064,212

Disposals

(13,941,292

)

-

(13,941,292

)

At 31 December 2025

-

40,380,000

Net book value

At 31 December 2025

-

40,380,000

At 31 December 2024

11,877,080

40,380,000

52,257,080

Cost or valuation at 31 December 2025 is represented by:

Unlisted

investments

€

Valuation in 2025

40,380,000

Fixed asset loan investments are financial assets measured at fair value through profit or loss. Fair value cannot be established therefore these financial assets are measured at cost less impairment. Impairment indicators were considered at the year end and no impairment was identified.

During the year, the company disposed of its entire listed investment portfolio, generating proceeds of €13,941,292 (2024: €2,062,355). This resulted in a gain on disposal of €303,678 (2024: €30,411) recognised in profit or loss.

6.

STOCKS

2025

2024

€

Property for develop/resale

13,197,385

11,907,355

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

€

Amounts owed by group undertakings

-

14,039

Other debtors

3,018

390

Directors' current accounts

130,196

87,405

Tax recoverable

48,062

646,629

Called up share capital not paid

1

Prepayments and accrued income

826

104,253

182,103

852,717

8.	CASH AT BANK

2025

2024

€

Cash at bank and in hand

12,710,594

1,211,213

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

€

Trade creditors

132,339

10,260

Amounts owed to group undertakings

1,471

-

Corporation tax

14,442

2,111

Social security and other taxes

-

2,286

Other creditors

1,402

-

Accruals and deferred income

17,401

13,573

167,055

28,230

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

€

Other loans

5,672,430

5,444,930

Amounts falling due in more than five years:

Repayable by instalments

Other loans

5,672,430

5,444,930

As at 31 December 2025, the company had two unsecured loans from independent third parties, amounting to €5,672,430 (2024: €5,444,930) in total both bearing interest at 5% per annum, are repayable in full in 2033.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

€

1,000

Ordinary shares

€1

1,000

1

Ordinary shares

£1

1

1,001

12.	RELATED PARTY DISCLOSURES

At the balance sheet date, a balance of €1,471 (2024: €14,039 debtor balance) was due to the parent company. This amount is repayable on demand, interest-free, and is shown within amounts owed to group undertakings.

At the year end, the director owed the company €130,196 (2024: €87,405). The loan is repayable on demand, with interest payable at 2.25% per annum up to 5 April 2025, increasing to 3.75% per annum from 6 April 2025. The balance is included within other debtors.