Hollybrook Residential Developments Ltd - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 04415573 (England and Wales)

Abbreviated Accounts for the Year Ended 28 February 2015

for

Hollybrook Residential Developments

Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

Mr M Cox

REGISTERED OFFICE:

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

REGISTERED NUMBER:

04415573 (England and Wales)

ACCOUNTANTS:

Gibsons Financial Limited

Chartered Accountants

Foresters Hall

25/27 Westow Street

Upper Norwood

London

SE19 3RY

FIXED ASSETS

Investments

2

2,200,010

2,200,010

CURRENT ASSETS

Stocks

-

600,000

Debtors

3

1,117,701

1,130,530

Cash at bank and in hand

21,566

340,988

1,139,267

2,071,518

CREDITORS

Amounts falling due within one year

4

9,660,667

10,407,708

NET CURRENT LIABILITIES

(8,521,400

)

(8,336,190

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,321,390

)

(6,136,180

)

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

(6,321,490

)

(6,136,280

)

SHAREHOLDERS' FUNDS

(6,321,390

)

(6,136,180

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 26 January 2016 and were signed by:

Mr M Cox - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The company has reported a loss for the year of £185,210. At the balance sheet date the company's

liabilities exceeded its assets by £6,321,390. Of the company's total liabilities at the balance sheet date

£8,220,413 related to amounts owed to the company's financier, Dranton (Carnarvon Road) Limited, a

company owned and controlled by an unrelated third party.

At the balance sheet date the company also had liabilities of £1,093,228 in relation to other loans.

These loans are repayable on demand. The company is also party to a joint and several guarantee

given in relation to bank borrowings by Rilston Limited, a company incorporated in the Republic of

Ireland and controlled by Mr M Cox. Given the limited resources available to Hollybrook Residential

Developments Limited following the disposal of its entire stock of properties during the year ended 28

February 2014 there is some concern about its ability to repay its loans and meet its obligations under

the terms of its guarantee, which is supported by a debenture over the company's assets, should

immediate repayment be demanded by the respective financiers. Although the company's main third

party financier has not indicated that it intends to demand such immediate repayment, this is a

material uncertainty that casts significant doubt on the company's ability to continue as a going

concern.

The company continues to pursue projects however none of the prospective opportunities are likely to

be realised in the short term. The company does not currently have a requirement for a large injection

of funds. The director has considered available management information, including the company's

funding requirements for the forthcoming year and, on the basis thereof, has an expectation that the

company will have adequate resources to continue in operational existence for the foreseeable future.

Given the foregoing, the director continues to adopt the going concern basis in the preparation of the

company's financial statements.

The financial statements do not include any adjustments that may be necessary should immediate

repayment of existing loans be sought by the company's and third party financiers.

Accounting convention

The financial statements have been prepared under the historical cost convention and are in

accordance with applicable accounting standards.

Investments

Investments are included at director's valuation.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST OR VALUATION

At 1 March 2014

and 28 February 2015

2,200,010

NET BOOK VALUE

At 28 February 2015

2,200,010

At 28 February 2014

2,200,010

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Ivystream Holdings Limited

Nature of business: Investments

%

Class of shares:

holding

Ordinary

100.00

28/2/15

28/2/14

£

£

Aggregate capital and reserves

63,592

1,928

Profit for the year

78,126

2,398

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 101,015 (28/2/14 - £ 126,515 )

4.

CREDITORS

Creditors include an amount of £ 8,220,413 (28/2/14 - £ 8,536,828 ) for which security has been

given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28/2/15

28/2/14

value:

£

£

100

Ordinary

£1

100

100