REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 |
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HAYLE HOLDING LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2020 |
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FOR |
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HAYLE HOLDING LTD |
HAYLE HOLDING LTD (REGISTERED NUMBER: 11634146) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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HAYLE HOLDING LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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4 Mount Ephraim Road |
Tunbridge Wells |
Kent |
TN1 1EE |
HAYLE HOLDING LTD (REGISTERED NUMBER: 11634146) |
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BALANCE SHEET |
31 OCTOBER 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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HAYLE HOLDING LTD (REGISTERED NUMBER: 11634146) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2020 |
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1. | STATUTORY INFORMATION |
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Hayle Holding Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company is a holds the investment in the trading companies. |
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In their assessment of going concern the directors have considered the current and developing impact on the business as a result of the COVID19 virus. This has not had a significant, immediate impact on the company's operations, but the Directors are aware that if the current situation becomes prolonged then this may change. |
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Having regard to the above, the directors believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements. |
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Investments in subsidiaries |
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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HAYLE HOLDING LTD (REGISTERED NUMBER: 11634146) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2020 |
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
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COST |
At 1 November 2019 |
and 31 October 2020 |
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NET BOOK VALUE |
At 31 October 2020 |
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At 31 October 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other debtors |
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6. | CROSS GUARANTEES AND OTHER FINANCIAL COMMITMENTS |
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RS Lender III, S.AR.L, a company incorporated under the laws of Luxembourg, holds floating and fixed charges over the assets of the company in respect of a cross guarantee £25 million facility agreement deed dated 18 December 2018 in favour of Sennybridge (Hayle) Limited. At the balance sheet date, the total drawdown included in the books of Sennybridge (Hayle) Limited is £23,661,420. Sennybridge (Hayle) Limited is a wholly owned subsidiary of the company. |