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REGISTERED NUMBER: 08628422 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HISTORIT LIMITED

HISTORIT LIMITED (REGISTERED NUMBER: 08628422)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HISTORIT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr C Morgan
Mr D Geoghegan





REGISTERED OFFICE: Bicester Heritage
Buckingham Road
BICESTER
Oxfordshire
OX27 8AL





REGISTERED NUMBER: 08628422 (England and Wales)





AUDITORS: Bronsens
Statutory Auditor
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

HISTORIT LIMITED (REGISTERED NUMBER: 08628422)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,778 19,339

CURRENT ASSETS
Debtors 5 106,314 154,458
Cash at bank 56,945 15,992
163,259 170,450
CREDITORS
Amounts falling due within one year 6 370,268 212,806
NET CURRENT LIABILITIES (207,009 ) (42,356 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(186,231

)

(23,017

)

CREDITORS
Amounts falling due after more than one
year

7

365,254

487,448
NET LIABILITIES (551,485 ) (510,465 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (551,585 ) (510,565 )
SHAREHOLDERS' FUNDS (551,485 ) (510,465 )

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 Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





Mr D Geoghegan - Director


HISTORIT LIMITED (REGISTERED NUMBER: 08628422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Historit 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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 on the understanding that the parent company will continue to support the company for the foreseeable future.

Related party exemption
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.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Turnover is recognised as it falls due under the contractual arrangements of the agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on cost and 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.

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.

HISTORIT LIMITED (REGISTERED NUMBER: 08628422)

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

2. ACCOUNTING POLICIES - continued

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 6 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 38,904 34,422 5,263 78,589
Additions 7,511 - 865 8,376
Disposals (38 ) - (608 ) (646 )
At 31 March 2023 46,377 34,422 5,520 86,319
DEPRECIATION
At 1 April 2022 31,260 24,568 3,422 59,250
Charge for year 3,793 2,463 677 6,933
Eliminated on disposal (34 ) - (608 ) (642 )
At 31 March 2023 35,019 27,031 3,491 65,541
NET BOOK VALUE
At 31 March 2023 11,358 7,391 2,029 20,778
At 31 March 2022 7,644 9,854 1,841 19,339

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 47,682 49,102
Amounts owed by group undertakings - 260
VAT - 35,343
Deferred tax asset 41,223 53,455
Prepayments and accrued income 17,409 16,298
106,314 154,458

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 6,456 17,710
Amounts owed to group undertakings 122,400 -
Social security and other taxes 3,581 -
VAT 72,588 -
Accruals and deferred income 155,243 185,096
370,268 212,806

HISTORIT LIMITED (REGISTERED NUMBER: 08628422)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 12,500 22,500
Amounts owed to group undertakings 342,754 454,948
365,254 487,448

8. DEFERRED TAX
£   
Balance at 1 April 2022 (53,455 )
Provided during year 275
Deferred tax asset on losses 11,957
Balance at 31 March 2023 (41,223 )

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Burton BSc FCA (Senior Statutory Auditor)
for and on behalf of Bronsens

11. PENSION COMMITMENTS

The company operates a money purchase (defined contribution) pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,137 (2022 - £3,398). At 31 March 2023 the sum of £NIL (2022 - £NIL) is included in other creditors in respect of these transactions.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Bicester Motion Limited.

Bicester Motion Limited prepares consolidated financial statements for the group. The registered office is Bicester Heritage, Buckingham Road, Bicester, Oxfordshire, OX27 8AL.