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REGISTERED NUMBER: 12954753 (England and Wales)















Unaudited Financial Statements

for the Period 1st July 2023 to 29th February 2024

for

HN FOODS LIMITED

HN FOODS LIMITED (REGISTERED NUMBER: 12954753)






Contents of the Financial Statements
FOR THE PERIOD 1ST JULY 2023 TO 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HN FOODS LIMITED

Company Information
FOR THE PERIOD 1ST JULY 2023 TO 29TH FEBRUARY 2024







DIRECTOR: Mr Amjad Hussain Mughal





REGISTERED OFFICE: Unit 3, 23 Watford Road
Birmingham
B30 1JB





REGISTERED NUMBER: 12954753 (England and Wales)





ACCOUNTANTS: Silver Arc
Chartered Certified Accountants
1 Quality Court
Chancery Lane
London
WC2A 1HR

HN FOODS LIMITED (REGISTERED NUMBER: 12954753)

Balance Sheet
29TH FEBRUARY 2024

29/2/24 30/6/23
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,300 2,600
Tangible assets 5 35,305 44,355
36,605 46,955

CURRENT ASSETS
Stocks 2,710 2,812
Debtors 6 5,138 12,416
Cash at bank and in hand 5,734 769
13,582 15,997
CREDITORS
Amounts falling due within one year 7 (191,484 ) (118,937 )
NET CURRENT LIABILITIES (177,902 ) (102,940 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(141,297

)

(55,985

)

CAPITAL AND RESERVES
Called up share capital 8 148,501 148,501
Retained earnings 9 (289,798 ) (204,486 )
SHAREHOLDERS' FUNDS (141,297 ) (55,985 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29th February 2024 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.

HN FOODS LIMITED (REGISTERED NUMBER: 12954753)

Balance Sheet - continued
29TH FEBRUARY 2024


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 14th March 2024 and were signed by:





Mr Amjad Hussain Mughal - Director


HN FOODS LIMITED (REGISTERED NUMBER: 12954753)

Notes to the Financial Statements
FOR THE PERIOD 1ST JULY 2023 TO 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Hn Foods 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery - 20% Straight line
Fixtures and fittings - 15% Straight line
Office equipments - 15% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


HN FOODS LIMITED (REGISTERED NUMBER: 12954753)

Notes to the Financial Statements - continued
FOR THE PERIOD 1ST JULY 2023 TO 29TH FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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 of 35 months.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2023 - 7 ) .

HN FOODS LIMITED (REGISTERED NUMBER: 12954753)

Notes to the Financial Statements - continued
FOR THE PERIOD 1ST JULY 2023 TO 29TH FEBRUARY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2023
and 29th February 2024 6,500
AMORTISATION
At 1st July 2023 3,900
Charge for period 1,300
At 29th February 2024 5,200
NET BOOK VALUE
At 29th February 2024 1,300
At 30th June 2023 2,600

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st July 2023 37,186 34,680 9,191 81,057
Additions - 5,845 - 5,845
At 29th February 2024 37,186 40,525 9,191 86,902
DEPRECIATION
At 1st July 2023 22,311 10,354 4,037 36,702
Charge for period 7,437 6,079 1,379 14,895
At 29th February 2024 29,748 16,433 5,416 51,597
NET BOOK VALUE
At 29th February 2024 7,438 24,092 3,775 35,305
At 30th June 2023 14,875 24,326 5,154 44,355

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 30/6/23
£    £   
Trade debtors 938 9,894
Other debtors 4,200 2,522
5,138 12,416

HN FOODS LIMITED (REGISTERED NUMBER: 12954753)

Notes to the Financial Statements - continued
FOR THE PERIOD 1ST JULY 2023 TO 29TH FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 30/6/23
£    £   
Trade creditors 3,765 3,413
Amounts owed to associates 63,243 35,107
Other creditors 124,476 80,417
191,484 118,937

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 30/6/23
value: £    £   
148,501 ordinary 1 148,501 148,501

9. RESERVES
Retained
earnings
£   

At 1st July 2023 (204,486 )
Deficit for the period (85,312 )
At 29th February 2024 (289,798 )

10. RELATED PARTY DISCLOSURES

Mr Amjad Hussain Mughal who is a director of HN Foods Limited also had a participating interest in Nazir Trading Limited and HNS Technology Limited. As at 29th February 2024, HN Foods Limited owed Nazir Trading Limited £41,883 (2023: 30,182) and £21,360 (2023: £4,925) to HNS Technology Limited