Silverfin false false 31/08/2023 01/09/2022 31/08/2023 Mr B T Hulson Mr B E Mancey 16 February 2024 The principal activity of the company continued to be the provision of management services, letting of property and rental of cars. 02262130 2023-08-31 02262130 2022-08-31 02262130 core:CurrentFinancialInstruments 2023-08-31 02262130 core:CurrentFinancialInstruments 2022-08-31 02262130 core:ShareCapital 2023-08-31 02262130 core:ShareCapital 2022-08-31 02262130 core:OtherCapitalReserve 2023-08-31 02262130 core:OtherCapitalReserve 2022-08-31 02262130 core:RetainedEarningsAccumulatedLosses 2023-08-31 02262130 core:RetainedEarningsAccumulatedLosses 2022-08-31 02262130 core:PlantMachinery 2022-08-31 02262130 core:Vehicles 2022-08-31 02262130 core:PlantMachinery 2023-08-31 02262130 core:Vehicles 2023-08-31 02262130 2022-09-01 2023-08-31 02262130 bus:FilletedAccounts 2022-09-01 2023-08-31 02262130 bus:SmallEntities 2022-09-01 2023-08-31 02262130 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 02262130 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 02262130 bus:Director1 2022-09-01 2023-08-31 02262130 bus:Director2 2022-09-01 2023-08-31 02262130 core:PlantMachinery core:TopRangeValue 2022-09-01 2023-08-31 02262130 core:Vehicles core:TopRangeValue 2022-09-01 2023-08-31 02262130 2021-09-01 2022-08-31 02262130 core:PlantMachinery 2022-09-01 2023-08-31 02262130 core:Vehicles 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Company No: 02262130 (England and Wales)

H. & M. INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 August 2023
Pages for filing with the registrar

H. & M. INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 August 2023

Contents

H. & M. INVESTMENTS LIMITED

BALANCE SHEET

As at 31 August 2023
H. & M. INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 August 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 334 0
Investment property 5 262,500 262,500
262,834 262,500
Current assets
Debtors 6 49,320 65,921
Cash at bank and in hand 72,188 49,934
121,508 115,855
Creditors: amounts falling due within one year 7 ( 58,987) ( 61,156)
Net current assets 62,521 54,699
Total assets less current liabilities 325,355 317,199
Net assets 325,355 317,199
Capital and reserves
Called-up share capital 100 100
Other reserves 62,500 62,500
Profit and loss account 262,755 254,599
Total shareholders' funds 325,355 317,199

For the financial year ending 31 August 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of H. & M. Investments Limited (registered number: 02262130) were approved and authorised for issue by the Board of Directors on 16 February 2024. They were signed on its behalf by:

Mr B E Mancey
Director
H. & M. INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
H. & M. INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

H. & M. Investments Limited (the Company) is a private company, limited by shares, 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 10 Newcastle Street, Burslem, Stoke On Trent, ST6 3QF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 3 years straight line
Vehicles 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Derivative financial instruments
The Company uses derivative financial instruments to reduce exposure to foreign exchange risk and interest rate movements. The Company does not hold or issue derivative financial instruments for speculative purposes.

Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to their fair value at each reporting date. The resulting gain or loss is recognised in the Profit and Loss Account immediately.

The Company does not apply hedge accounting.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

4. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost/Valuation
At 01 September 2022 0 35,422 35,422
Additions 354 0 354
At 31 August 2023 354 35,422 35,776
Accumulated depreciation
At 01 September 2022 0 35,422 35,422
Charge for the financial year 20 0 20
At 31 August 2023 20 35,422 35,442
Net book value
At 31 August 2023 334 0 334
At 31 August 2022 0 0 0

5. Investment property

Investment property
£
Valuation
As at 01 September 2022 262,500
As at 31 August 2023 262,500

Valuation

The company's investment properties are incorporated at the directors' valuation.
The historical cost of the revalued properties is £200,000.

6. Debtors

2023 2022
£ £
Trade debtors 20,876 45,420
Other debtors 28,444 20,501
49,320 65,921

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 20,345 30,153
Other taxation and social security 9,700 6,332
Other creditors 28,942 24,671
58,987 61,156