Lythe Hill (Holdings) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09535834 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

LYTHE HILL (HOLDINGS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Stephen

R N Gore

T P Barnes-Taylor

Ms J H Powell

REGISTERED OFFICE:

Windover House

St. Ann Street

Salisbury

SP1 2DR

REGISTERED NUMBER:

09535834 (England and Wales)

ACCOUNTANTS:

Fawcetts LLP

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

FIXED ASSETS

Tangible assets

4

5,495,141

5,538,579

Investments

5

100

100

5,495,241

5,538,679

CURRENT ASSETS

Debtors

6

6,771,199

6,776,448

CREDITORS

Amounts falling due within one year

7

12,550,280

12,558,179

NET CURRENT LIABILITIES

(5,779,081

)

(5,781,731

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(283,840

)

(243,052

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(283,940

)

(243,152

)

SHAREHOLDERS' FUNDS

(283,840

)

(243,052

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2023 and were signed on its behalf by:

T P Barnes-Taylor - Director

1.	STATUTORY INFORMATION

Lythe Hill (Holdings) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Going Concern

The financial statements for the period under review have been prepared on a going concern basis. The directors have considered a period of twelve months from the date of approval of these financial statements, during which time funding remains in place to allow operations to continue. On this basis, the directors believe it is prudent to prepare the accounts on a going concern basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

1% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Debtors

Debtors are measured at their recoverable amount.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 April 2021

and 31 March 2022

5,769,233

DEPRECIATION

At 1 April 2021

230,654

Charge for year

43,438

At 31 March 2022

274,092

NET BOOK VALUE

At 31 March 2022

5,495,141

At 31 March 2021

5,538,579

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2021

and 31 March 2022

100

NET BOOK VALUE

At 31 March 2022

100

At 31 March 2021

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by group undertakings

6,771,199

6,776,448

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other borrowings

12,548,530

12,548,529

Accrued expenses

1,750

9,650

12,550,280

12,558,179

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

Lythe Hill Limited

100% Subsidiary

During the year under review, the company provided, provided loan facilities to Lythe Hill Limited, a company in which 100% of the share capital is held. At the balance sheet date, the balance owed by the subsidiary was £6,771,199 (2021: £6,776,486). This loan is given interest free, is unsecured and is repayable on demand.

The company owns the property which is occupied by Lythe Hill limited. No rent is charged in respect of this provision (2021: £nil).

10.	POST BALANCE SHEET EVENTS

On 24 June 2022, the company was sold. See further details included under the ultimate controlling party note.

11.	ULTIMATE CONTROLLING PARTY

Until 24 June 2022, the immediate parent company was Pristine Development Limited, a company registered in Luxembourg. The ultimate parent company was Stellar Partners Limited, a company registered in the British Virgin Islands. The ultimate controlling party at this time was Mr K J Soh, one of the former directors.

From 24 June 2022, the ultimate parent company is NQ2 Colbalt Limited, a company incorporated in England and Wales. In the opinion of the directors, no one individual has ultimate control.