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REGISTERED NUMBER: 11136852 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2023

FOR

HIT THE OPEN ROAD LTD

HIT THE OPEN ROAD LTD (REGISTERED NUMBER: 11136852)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HIT THE OPEN ROAD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2023







DIRECTOR: M J Shuttleworth





REGISTERED OFFICE: C/O JRB Accountancy Ltd
Oak House Business Centre
Samuel Brunts Way
Mansfield
Nottinghamshire
NG18 2AH





REGISTERED NUMBER: 11136852 (England and Wales)






HIT THE OPEN ROAD LTD (REGISTERED NUMBER: 11136852)

BALANCE SHEET
31ST JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 6,000

CURRENT ASSETS
Cash at bank 28,848 39,488

CREDITORS
Amounts falling due within one year 5 14,478 11,760
NET CURRENT ASSETS 14,370 27,728
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,370

33,728

CREDITORS
Amounts falling due after more than one year 6 10,439 17,879
NET ASSETS 3,931 15,849

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,831 15,749
3,931 15,849

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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.

HIT THE OPEN ROAD LTD (REGISTERED NUMBER: 11136852)

BALANCE SHEET - continued
31ST JANUARY 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13th October 2023 and were signed by:





M J Shuttleworth - Director


HIT THE OPEN ROAD LTD (REGISTERED NUMBER: 11136852)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2023


1. STATUTORY INFORMATION

Hit The Open Road 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.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

HIT THE OPEN ROAD LTD (REGISTERED NUMBER: 11136852)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st February 2022
and 31st January 2023 30,000
AMORTISATION
At 1st February 2022 24,000
Charge for year 6,000
At 31st January 2023 30,000
NET BOOK VALUE
At 31st January 2023 -
At 31st January 2022 6,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,440 6,988
Taxation and social security 5,414 4,214
Other creditors 1,624 558
14,478 11,760

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 10,439 17,879

7. RELATED PARTY DISCLOSURES

M J Shuttleworth
Director


During the period a loan account subsisted with the director. The company advanced to the director £52,143 and the director repaid to the company £53,208 At the period end a balance of £1,549 (2022 : £484) was due to the director. The loan is under no specific repayment terms. A commercial rate of interest is charged on the loan.

HIT THE OPEN ROAD LTD (REGISTERED NUMBER: 11136852)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2023


8. ULTIMATE CONTROLLING PARTY

The controlling party is M J Shuttleworth.