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REGISTERED NUMBER: 09557694 (England and Wales)















HITREES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






HITREES LTD (REGISTERED NUMBER: 09557694)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HITREES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: I J Godding





REGISTERED OFFICE: West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ





REGISTERED NUMBER: 09557694 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

HITREES LTD (REGISTERED NUMBER: 09557694)

BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 90,719 110,548
90,719 110,548

CURRENT ASSETS
Stocks 1,500 1,250
Debtors 6 6,365 12,246
Cash at bank and in hand 8,365 19,314
16,230 32,810
CREDITORS
Amounts falling due within one year 7 41,451 33,825
NET CURRENT LIABILITIES (25,221 ) (1,015 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,498

109,533

CREDITORS
Amounts falling due after more than one
year

8

(26,752

)

(38,453

)

PROVISIONS FOR LIABILITIES (17,237 ) (21,004 )
NET ASSETS 21,509 50,076

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 21,409 49,976
SHAREHOLDERS' FUNDS 21,509 50,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 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.

HITREES LTD (REGISTERED NUMBER: 09557694)

BALANCE SHEET - continued
30 APRIL 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2023 and were signed by:





I J Godding - Director


HITREES LTD (REGISTERED NUMBER: 09557694)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1. STATUTORY INFORMATION

Hitrees Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has been fully amortised.

Formation costs
Formation costs were amortised fully in the first year of trading.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance and 15% on reducing balance
Tools and equipment - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

HITREES LTD (REGISTERED NUMBER: 09557694)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 May 2022
and 30 April 2023 16,000 179 16,179
AMORTISATION
At 1 May 2022
and 30 April 2023 16,000 179 16,179
NET BOOK VALUE
At 30 April 2023 - - -
At 30 April 2022 - - -

HITREES LTD (REGISTERED NUMBER: 09557694)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

5. TANGIBLE FIXED ASSETS
Plant and Tools and Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2022 172,908 22,425 39,358 666 235,357
Additions - 1,334 - 399 1,733
Disposals - (469 ) - (666 ) (1,135 )
At 30 April 2023 172,908 23,290 39,358 399 235,955
DEPRECIATION
At 1 May 2022 89,562 9,782 24,799 666 124,809
Charge for year 16,188 1,377 3,641 133 21,339
Eliminated on disposal - (246 ) - (666 ) (912 )
At 30 April 2023 105,750 10,913 28,440 133 145,236
NET BOOK VALUE
At 30 April 2023 67,158 12,377 10,918 266 90,719
At 30 April 2022 83,346 12,643 14,559 - 110,548

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 May 2022
and 30 April 2023 23,738
DEPRECIATION
At 1 May 2022 13,724
Charge for year 2,504
At 30 April 2023 16,228
NET BOOK VALUE
At 30 April 2023 7,510
At 30 April 2022 10,014

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,365 9,028
Prepayments and accrued income - 3,218
6,365 12,246

HITREES LTD (REGISTERED NUMBER: 09557694)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,834 7,653
Hire purchase contracts 3,800 3,800
Trade creditors 3,600 30
Social security and other taxes 487 513
Pension control 249 231
VAT 5,695 1,533
Net wages 4,175 -
Directors' current accounts 13,124 13,748
Accruals and deferred income 2,487 6,317
41,451 33,825

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 8,037 7,844
Bank loans - 2-5 years 15,232 23,326
Hire purchase contracts 3,483 7,283
26,752 38,453

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 May 2022 49,976
Deficit for the year (16,567 )
Dividends (12,000 )
At 30 April 2023 21,409

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director also trades under his own name and £3,600 was paid to him from the limited company for the use of storage facilities and £1,338.64 charged from the limited company for the supply of building materials.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £12,000 were paid to the director .