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Registration number: SC230708

3H Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

 

3H Investments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

3H Investments Limited

(Registration number: SC230708)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

11,130

17,490

Investment property

6

928,799

928,799

 

939,929

946,289

Current assets

 

Stocks

7

313,897

285,307

Debtors

8

2,250,124

2,062,731

Cash at bank and in hand

 

127,301

356,267

 

2,691,322

2,704,305

Creditors: Amounts falling due within one year

9

(82,822)

(117,154)

Net current assets

 

2,608,500

2,587,151

Total assets less current liabilities

 

3,548,429

3,533,440

Creditors: Amounts falling due after more than one year

9

(35,734)

(74,648)

Provisions for liabilities

(10,190)

(10,190)

Net assets

 

3,502,505

3,448,602

Capital and reserves

 

Called up share capital

100

100

Other reserves

162,361

162,361

Retained earnings

3,340,044

3,286,141

Shareholders' funds

 

3,502,505

3,448,602

 

3H Investments Limited

(Registration number: SC230708)
Balance Sheet as at 30 April 2023

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 November 2023 and signed on its behalf by:
 

.........................................
I H Strudwick
Director

 

3H Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Small Firms Services Limited
Summit House
4-5 Mitchell Street
Edinburgh
EH6 7BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

3H Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Asset class

Depreciation method and rate

Other tangible assets

25% Straight Line

Investment property

Investment Property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Other operating income

 

3H Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

2023

2022

£

£

Government grants

-

4,400

-

4,400

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2022

30,210

30,210

At 30 April 2023

30,210

30,210

Depreciation

At 1 May 2022

12,720

12,720

Charge for the year

6,360

6,360

At 30 April 2023

19,080

19,080

Carrying amount

At 30 April 2023

11,130

11,130

At 30 April 2022

17,490

17,490

6

Investment properties

2023
£

At 1 May

928,799

At 30 April

928,799

There has been no valuation of investment property by an independent valuer.

 

3H Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

7

Stocks

8

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

3,884

2,122

Amounts owed by related parties

11

21,176

-

Other debtors

 

2,225,064

2,060,609

   

2,250,124

2,062,731

 

3H Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

38,222

44,024

Trade creditors

3,540

18,392

Taxation and social security

28,540

37,758

Other creditors

12,520

16,980

82,822

117,154

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

35,734

74,648

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

38,222

44,024

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

35,734

74,648

 

3H Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

11

Related party transactions

Summary of transactions with entities with joint control or significant interest

During the year 3H Investments Limited loaned £0 (2022: £1,330) to The Exmoor Vension Company, which is a company controlled by the director I Strudwick. Repayments of £2,744 (2022: £0) have been received during the year. No interest has been charged, and the loan is repayable on demand. At the balance sheet date the amount of £0 remains due to Exmoor (2022: £2,744 due to Exmoor) and is included within other creditors.
 

Summary of transactions with other related parties

During the year the director, I Strudwick introduced funds by expenses paid personally totalling £973 (2022: £2,360). Against which he withdrew funds totalling £0 (2022: £137,634). Interest has been charged at the offical rate. At the balance sheet date £1,680,785 (2022: £1,674,887) remains due to the company and is included within other debtors.