HWL Holdings Limited - Period Ending 2022-12-31

HWL Holdings Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 7

HWL Holdings Limited

Balance Sheet
31 December 2022

	Note	2022 £	2021 £
Fixed assets
Investments	4	1,102	1,102
Current assets
Debtors	5	234,122	234,122
Creditors: Amounts falling due within one year	6	(12)	(12)
Net current assets		234,110	234,110
Net assets		235,212	235,212
Capital and reserves
Called up share capital		211	211
Share premium reserve		984	984
Capital redemption reserve		(71,235)	(71,235)
Retained earnings		305,252	305,252
Shareholders' funds		235,212	235,212

HWL Holdings Limited

Balance Sheet
31 December 2022

For the financial year ending 31 December 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 September 2023 and signed on its behalf by:
 

......................................... Mrs P C Holt Director

Company Registration Number: 05382939

HWL Holdings Limited

Notes to the Financial Statements
Year Ended 31 December 2022

1	General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
144 Grosvenor Road
London
SW1V 3JY

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared consolidated accounts on the basis the group is small.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Investments

Investments comprise of equity shares in wholly owned subsidiary companies. These shares are not publicly traded and fair value cannot be measured reliably. They are measured at cost less impairment.

Trade debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

HWL Holdings Limited

Notes to the Financial Statements
Year Ended 31 December 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 5 (2021 - 5).

4	Investments

	2022 £	2021 £
Investments in subsidiaries	1,102	1,102

Subsidiaries	£
Cost or valuation
At 1 January 2022	1,102
Provision
Carrying amount
At 31 December 2022	1,102
At 31 December 2021	1,102

HWL Holdings Limited

Notes to the Financial Statements
Year Ended 31 December 2022

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held
			2022	2021
Subsidiary undertakings
HWL Limited	England	Ordinary	100%	100%
Berrydata Limited	England	Ordinary	100%	100%
Haircloth Weaving & Finishing Co.Limited (a subsidiary of HWL Limited)	England	Ordinary	100%	100%
BL Operations Limited	England	Ordinary	100%	100%

Subsidiary undertakings

HWL Limited The principal activity of HWL Limited is Non Trading Holding Company.

Berrydata Limited The principal activity of Berrydata Limited is Non Trading Dormant.

Haircloth Weaving & Finishing Co.Limited (a subsidiary of HWL Limited) The principal activity of Haircloth Weaving & Finishing Co.Limited (a subsidiary of HWL Limited) is the provision of and supplying and management of services, facilities and events to managed workspaces, co-working workspaces, virtual offices and meeting rooms.

BL Operations Limited The principal activity of BL Operations Limited is provision of and the supplying and management of services, facilities and events to managed workspaces, co-working workspaces, virtual offices and meeting rooms.

5

Debtors

	Note	2022 £	2021 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7	233,995	233,995
Other debtors		127	127
		234,122	234,122

HWL Holdings Limited

Notes to the Financial Statements
Year Ended 31 December 2022

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Other creditors	12	12

HWL Holdings Limited

Notes to the Financial Statements
Year Ended 31 December 2022

7	Related party transactions

Summary of transactions with all subsidiaries

Included in debtors is a loan to HWL Limited. The loan is interest free and repayable on demand. There have been no movements during the year.
Balance at the end of the year - £233,995 (2021 - £233,995)