0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 10,900 10,900 xbrli:pure xbrli:shares iso4217:GBP 8517700 2022-04-01 2023-03-31 8517700 2023-03-31 8517700 2022-03-31 8517700 2021-04-01 2022-03-31 8517700 2022-03-31 8517700 2021-03-31 8517700 core:LandBuildings 2022-04-01 2023-03-31 8517700 core:MotorVehicles 2022-04-01 2023-03-31 8517700 bus:Director1 2022-04-01 2023-03-31 8517700 core:WithinOneYear 2023-03-31 8517700 core:WithinOneYear 2022-03-31 8517700 core:NetGoodwill 2023-03-31 8517700 core:LandBuildings 2022-03-31 8517700 core:MotorVehicles 2022-03-31 8517700 core:LandBuildings 2023-03-31 8517700 core:MotorVehicles 2023-03-31 8517700 core:ShareCapital 2023-03-31 8517700 core:ShareCapital 2022-03-31 8517700 core:RetainedEarningsAccumulatedLosses 2023-03-31 8517700 core:RetainedEarningsAccumulatedLosses 2022-03-31 8517700 core:LandBuildings 2022-03-31 8517700 bus:SmallEntities 2022-04-01 2023-03-31 8517700 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 8517700 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 8517700 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 8517700 bus:FullAccounts 2022-04-01 2023-03-31 8517700 core:NetGoodwill 2022-04-01 2023-03-31 8517700 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 8517700 core:OtherPropertyPlantEquipment 2023-03-31 8517700 core:OtherPropertyPlantEquipment 2022-03-31
COMPANY REGISTRATION NUMBER: 8517700
50 HERTZ LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2023
50 HERTZ LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
3,044
3,805
CURRENT ASSETS
Debtors
6
3,563
8,419
CREDITORS: amounts falling due within one year
7
4,926
9,313
-------
-------
NET CURRENT LIABILITIES
1,363
894
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,681
2,911
-------
-------
NET ASSETS
1,681
2,911
-------
-------
CAPITAL AND RESERVES
Called up share capital
1
1
Profit and loss account
1,680
2,910
-------
-------
SHAREHOLDERS FUNDS
1,681
2,911
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
50 HERTZ LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 26 October 2023 , and are signed on behalf of the board by:
Mr T Weldon
Director
Company registration number: 8517700
50 HERTZ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 39 Shelley Grove, Rawcliffe, York, YO30 5SP, England.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
In March 2020, the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
(d) Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
-
5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(f) Tangible assets
Tangible assets are initially recorded at cost.
(g) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property
-
20% straight line
Motor Vehicles
-
20% straight line
Equipment
-
20% reducing balance
(h) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
10,900
--------
Amortisation
At 1 April 2022 and 31 March 2023
10,900
--------
Carrying amount
At 31 March 2023
--------
At 31 March 2022
--------
5. TANGIBLE ASSETS
Land and buildings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 April 2022 and 31 March 2023
2,496
20,710
6,012
29,218
-------
--------
-------
--------
Depreciation
At 1 April 2022
499
20,710
4,204
25,413
Charge for the year
399
362
761
-------
--------
-------
--------
At 31 March 2023
898
20,710
4,566
26,174
-------
--------
-------
--------
Carrying amount
At 31 March 2023
1,598
1,446
3,044
-------
--------
-------
--------
At 31 March 2022
1,997
1,808
3,805
-------
--------
-------
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
800
Other debtors
2,763
8,419
-------
-------
3,563
8,419
-------
-------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,375
1,571
Accruals and deferred income
750
751
Corporation tax
1,158
5,660
Directors current accounts
643
1,331
-------
-------
4,926
9,313
-------
-------