REGISTERED NUMBER: |
H2 EQUITY PARTNERS LIMITED |
Audited Financial Statements |
for the Year Ended 31 December 2021 |
REGISTERED NUMBER: |
H2 EQUITY PARTNERS LIMITED |
Audited Financial Statements |
for the Year Ended 31 December 2021 |
H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504) |
Contents of the Financial Statements |
for the year ended 31 December 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
H2 EQUITY PARTNERS LIMITED |
Company Information |
for the year ended 31 December 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants |
Statutory Auditors |
The Riding School House |
Bulls Lane |
Wishaw |
Sutton Coldfield |
West Midlands |
B76 9QW |
H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504) |
Statement of Financial Position |
31 December 2021 |
31/12/21 | 31/12/20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504) |
Notes to the Financial Statements |
for the year ended 31 December 2021 |
1. | STATUTORY INFORMATION |
H2 Equity Partners Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
On 11th March 2020 the World Health Organisation declared the Covid-19 virus a Pandemic. Whilst this has presented difficult logistical trading conditions and restrictions to work within, the company does not operate in sectors that have been materially affected by the Pandemic. As UK lockdown restrictions had been lifted at the date of approval of the accounts the Directors are pleased that the company has managed to trade through such a difficult period whilst still generating profit and maintaining healthy reserves. |
After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
Significant judgements and estimates |
In preparing these financial statements, the directors have made the following judgements: |
Determine whether any leases entered into by the company as a lessor or a lessee are operating or lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. |
Determine whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit. |
Determine the recoverability of all debtors at the balance sheet date by reference to amounts received after the balance sheet date and before the date of approval of the financial statements. In addition, for any unpaid debtors at the date of approval of the financial statements a review has been made to assess recoverability of such items and where any doubt as to the recoverability exists, the debtor has been written down to its recoverable amount. |
Determining whether any items which would be construed as a financial instrument within the meaning of FRS 102 has been included within the financial statements at the required fair value where applicable. |
Tangible fixed assets |
Short leasehold | - |
Fixtures and fittings | - |
Computer equipment | - |
H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
2. | ACCOUNTING POLICIES - continued |
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 statement of financial position date. |
Taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective rate of interest. |
Holiday pay accrual |
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date. Any material liability is included within creditors due within one year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
Additions |
At 31 December 2021 |
DEPRECIATION |
At 1 January 2021 |
Charge for year |
At 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
5. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
31/12/21 | 31/12/20 |
£ | £ |
Brought forward | - | 972,138 |
Additions | - | 700,313 |
- | 1,672,451 |
Fixed asset investments comprised the capital membership of Cooperatieve H2 Equity Partners Fund V U.A. and which were returned to the members during the year. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/21 | 31/12/20 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by participating interests | - | 442,923 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/21 | 31/12/20 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
H2 EQUITY PARTNERS LIMITED (REGISTERED NUMBER: 07218504) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2021 |
8. | PROVISIONS FOR LIABILITIES |
31/12/21 | 31/12/20 |
£ | £ |
Deferred tax | 112,050 | 61,953 |
Deferred |
tax |
£ |
Balance at 1 January 2021 |
Charge to Income Statement during year |
Balance at 31 December 2021 |
The deferred tax provision relates to accelerated capital allowances on the purchase of various items of plant & equipment and property refurbishment costs. |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | OTHER FINANCIAL COMMITMENTS |
The company has total operating lease commitments at the balance sheet date on leases for land and buildings expiring over five years of £3,333,000 (2020 : £3,733,000). |
11. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |