Company registration number 10998761 (England and Wales)
HCH (LANHYDROCK) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
PAGES FOR FILING WITH REGISTRAR
HCH (LANHYDROCK) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HCH (LANHYDROCK) LTD
BALANCE SHEET
AS AT
31 OCTOBER 2022
31 October 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
3
620,000
667,665
Current assets
Investments
5
161,898
232,079
Creditors: amounts falling due within one year
6
(647,278)
(647,697)
Net current liabilities
(485,380)
(415,618)
Total assets less current liabilities
134,620
252,047
Provisions for liabilities
(21,608)
(45,438)
Net assets
113,012
206,609
Capital and reserves
Called up share capital
7
3
3
Profit and loss reserves
113,009
206,606
Total equity
113,012
206,609
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 March 2023 and are signed on its behalf by:
Mrs Z Hall
Director
Company Registration No. 10998761
HCH (LANHYDROCK) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
- 2 -
1
Accounting policies
Company information
HCH (Lanhydrock) Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
9 Tregarne Terrace, St Austell, Cornwall, PL25 4DD.
1.1
Accounting convention
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 the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
All revenues of the company arise from investments held. Interest, dividend income and capital gains are recognised in profit and loss on the date at which the right to receive payment is established.
1.3
Fixed asset investments
Investments in unlisted company shares, which have been classified as fixed asset investments as the company intends to hold them on a continuing basis, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.
1.4
Current asset investments
Investments are measured at fair value with changes recognised in profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably.
1.5
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.6
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.
HCH (LANHYDROCK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 3 -
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.
1.7
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
However no remuneration was paid.
3
Fixed asset investments
2022
2021
£
£
Other investments other than loans
620,000
667,665
Fixed asset investments revalued
Investments are shares in an unlisted company which have been measured at fair value, the historical cost of which at the end of the period was £
509,655.
HCH (LANHYDROCK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 November 2021
667,665
Additions
38,120
Valuation changes
(85,785)
At 31 October 2022
620,000
Carrying amount
At 31 October 2022
620,000
At 31 October 2021
667,665
4
Financial instruments
2022
2021
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
781,898
899,744
5
Current asset investments
2022
2021
£
£
Listed investments
161,898
232,079
Listed investments are ordinary shares measured at fair value through profit or loss based on the quoted market price in an active market.
6
Creditors: amounts falling due within one year
2022
2021
£
£
Taxation and social security
1,096
211
Other creditors
646,182
647,486
647,278
647,697
HCH (LANHYDROCK) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 5 -
7
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
2 A shares of £1 each
2
2
1 B share of £1 each
1
1
3
3