IRIS Accounts Production v23.2.0.158 05384347 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053843472022-03-31053843472023-03-31053843472022-04-012023-03-31053843472021-03-31053843472021-04-012022-03-31053843472022-03-3105384347ns10:Originalns15:EnglandWales2022-04-012023-03-3105384347ns14:PoundSterlingns10:Original2022-04-012023-03-3105384347ns10:Originalns10:Director12022-04-012023-03-3105384347ns10:Original2022-04-012023-03-3105384347ns10:Originalns10:Director22022-04-012023-03-3105384347ns10:Original2023-03-3105384347ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3105384347ns10:Originalns10:SmallEntities2022-04-012023-03-3105384347ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3105384347ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3105384347ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3105384347ns10:Originalns10:AbridgedAccounts2022-04-012023-03-3105384347ns10:Original12022-04-012023-03-3105384347ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3105384347ns10:CompanySecretary1ns10:Original2022-04-012023-03-3105384347ns10:Originalns10:RegisteredOffice2022-04-012023-03-3105384347ns10:Original2022-03-3105384347ns10:Originalns5:CurrentFinancialInstruments2023-03-3105384347ns10:Originalns5:CurrentFinancialInstruments2022-03-3105384347ns5:ShareCapitalns10:Original2023-03-3105384347ns5:ShareCapitalns10:Original2022-03-3105384347ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3105384347ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3105384347ns10:Originalns5:NetGoodwill2022-04-012023-03-3105384347ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-3105384347ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-04-012023-03-3105384347ns10:Originalns5:LeaseholdImprovements2022-04-012023-03-3105384347ns10:Originalns5:PlantMachinery2022-04-012023-03-3105384347ns10:Originalns5:FurnitureFittings2022-04-012023-03-3105384347ns10:Originalns5:ComputerEquipment2022-04-012023-03-3105384347ns10:Original2021-04-012022-03-3105384347ns10:Original2022-03-3105384347ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-03-3105384347ns10:Originalns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-03-3105384347ns10:Originalns5:WithinOneYear2023-03-3105384347ns10:Originalns5:WithinOneYear2022-03-3105384347ns5:BetweenOneFiveYearsns10:Original2023-03-3105384347ns5:BetweenOneFiveYearsns10:Original2022-03-3105384347ns10:Originalns5:MoreThanFiveYears2023-03-3105384347ns10:Originalns5:MoreThanFiveYears2022-03-3105384347ns10:Originalns5:AllPeriods2023-03-3105384347ns10:Originalns5:AllPeriods2022-03-3105384347ns10:Originalns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 05384347 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

HMG Enterprises Limited

HMG Enterprises Limited (Registered number: 05384347)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


HMG Enterprises Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr H Kumar
Mr M Neale



SECRETARY: Mr H Kumar



REGISTERED OFFICE: 20 The Cross
Worcester
Worcestershire
WR1 3PZ



REGISTERED NUMBER: 05384347 (England and Wales)



BANKERS: Natwest Bank Plc
Queen Square
Wolverhampton
WV1 1TR

HMG Enterprises Limited (Registered number: 05384347)

Abridged Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 47,927 67,178
47,927 67,178

CURRENT ASSETS
Stocks 14,098 13,320
Debtors 6 6,771 43,616
Cash at bank and in hand 92,092 863,486
112,961 920,422
CREDITORS
Amounts falling due within one year 114,456 113,739
NET CURRENT (LIABILITIES)/ASSETS (1,495 ) 806,683
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,432

873,861

PROVISIONS FOR LIABILITIES 3,647 7,181
NET ASSETS 42,785 866,680

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 41,785 865,680
SHAREHOLDERS' FUNDS 42,785 866,680

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

HMG Enterprises Limited (Registered number: 05384347)

Abridged Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 September 2023 and were signed on its behalf by:




Mr H Kumar - Director



Mr M Neale - Director


HMG Enterprises Limited (Registered number: 05384347)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

HMG Enterprises Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on a going concern basis.

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 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost and Straight line over 15 years
Improvements to property - Straight line over 6 years
Plant and machinery - 25% on cost and 12.5% on cost
Fixtures and fittings - 25% on cost
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.

Hire purchase and leasing commitments
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 36 (2022 - 35 ) .

HMG Enterprises Limited (Registered number: 05384347)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022
and 31 March 2023 50,000
AMORTISATION
At 1 April 2022
and 31 March 2023 50,000
NET BOOK VALUE

At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 537,721
Additions 5,093
Disposals (90,688 )
At 31 March 2023 452,126
DEPRECIATION
At 1 April 2022 470,543
Charge for year 24,344
Eliminated on disposal (90,688 )
At 31 March 2023 404,199
NET BOOK VALUE
At 31 March 2023 47,927
At 31 March 2022 67,178

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Other debtors - 4,000

HMG Enterprises Limited (Registered number: 05384347)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.23 31.3.22
£    £   
Within one year 52,500 73,578
Between one and five years 105,292 138,548
In more than five years 84,000 105,000
241,792 317,126

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The controlling party is HMG Capital Holdings Limited..

The ultimate controlling party is Messrs H Kumar and M Neale..