Company No:
Contents
Note | 31.07.2023 | 31.07.2022 | ||
£ | £ | |||
Restated - note 2 | ||||
Fixed assets | ||||
Investments | 4 |
|
|
|
2,700,000 | 2,700,000 | |||
Creditors: amounts falling due within one year | 5 | (
|
(
|
|
Net current liabilities | (1,320,000) | (1,920,000) | ||
Total assets less current liabilities | 1,380,000 | 780,000 | ||
Net assets |
|
|
||
Reserves | ||||
Other reserves |
|
|
||
Total reserves |
|
|
Directors' responsibilities:
The financial statements of The HR Dept Trust Company Limited (registered number:
K J Sadler
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.
The HR Dept Trust Company Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 3 Brook Park Office, Emersons Green, Bristol, BS16 7FL, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
[Disclose the nature of the prior period error, and (if practicable);
(i) for each prior period presented, the amount of the correction for each financial statement line item affected; and
(ii) the amount of the correction at the beginning of the earliest prior period presented; or an explanation if it is not practicable to disclose these amounts for (i) and (ii).]
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
At the year ended 31 July 2023 there were no adjustments made with respect to an investment in a trading company. The consideration was partially paid and the amount outstanding remains as a creditor due to the former shareholders.
The prior year has been restated such that Investments have increased from £0 to £2,700,000, other loans increased from £0 to £1,920,000 and other reserves increased from £0 to £780,000.
As previously reported | Adjustment | As restated | ||||
Period ended 31 July 2022 | £ | £ | £ | |||
Investment in Shares | 0 | 2,700,000 | 2,700,000 | |||
Other Loans | 0 | (1,920,000) | (1,920,000) | |||
Other reserves | 0 | (780,000) | (780,000) |
Year ended 31.07.2023 |
Period from 16.05.2021 to 31.07.2022 |
||
Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
|
|
Other investments | Total | ||
£ | £ | ||
Carrying value before impairment | |||
At 01 August 2022 |
|
|
|
At 31 July 2023 |
|
|
|
Provisions for impairment | |||
At 01 August 2022 |
|
|
|
At 31 July 2023 |
|
|
|
Carrying value at 31 July 2023 |
|
|
|
Carrying value at 31 July 2022 |
|
|
31.07.2023 | 31.07.2022 | ||
£ | £ | ||
Other creditors |
|
|
The members of the The HR Dept Trust Company Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.