HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Company Registration Number:
07685475 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Balance sheet

As at 31 May 2024


Notes
2024
2023


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 187,050 192,886
Total fixed assets: 187,050 192,886
Current assets
Stocks: 43,789,078 43,789,078
Cash at bank and in hand:   0
Total current assets: 43,789,078 43,789,078
Net current assets (liabilities): 43,789,078 43,789,078
Total assets less current liabilities: 43,976,128 43,981,964
Creditors: amounts falling due after more than one year: 4 (2,050,000) (43,400,055)
Total net assets (liabilities): 41,926,128 581,909
Capital and reserves
Called up share capital: 30,560,526 100
Share premium account: 10,783,693
Profit and loss account: 581,909 581,809
Shareholders funds: 41,926,128 581,909

The notes form part of these financial statements

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 01 July 2026
and signed on behalf of the board by:

Name: Michael Carrick
Status: Director

The notes form part of these financial statements

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 1 1

During this period a variation to the Creditor Voluntary Arrangement was agreed. Unsecured creditors including HMRC, external consultants and management agreed to translate their debts into ordinary shares. At the same time additional shares were issued to management in the form of growth shares that incentivised a return to profitability under a new investment strategy.

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Intangible Assets

Total
Cost £
At 01 June 2023 192,886
At 31 May 2024 192,886
Amortisation
At 01 June 2023 0
Charge for year 5,836
At 31 May 2024 5,836
Net book value
At 31 May 2024 187,050
At 31 May 2023 192,886

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Creditors: amounts falling due after more than one year note

following variation of the CVA, the creditors recognised are the secured debts owed to senior lender All other creditors have been issued shares in the company

HEADS OF THE VALLEYS DEVELOPMENT COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Related party transactions

Name of the related party: Aventa Capital Partners
Relationship:
Advisor
Description of the Transaction: HOTVDC retains Aventa as a corporate advisor. Both Aventa and HOTVDC have a common dircector. No funds were paid but shares issued in lieu of services
£
Balance at 01 June 2023 350,000
Balance at 31 May 2024 400,000