Registered number
10921673
HVM NORTH LIMITED
Filleted Accounts
31 August 2023
HVM NORTH LIMITED
Registered number: 10921673
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 614,975 2,844,361
Current assets
Debtors 4 - 59,672
Cash at bank and in hand 12,900 11,802
12,900 71,474
Creditors: amounts falling due within one year 5 (50,419) (38,480)
Net current (liabilities)/assets (37,519) 32,994
Total assets less current liabilities 577,456 2,877,355
Creditors: amounts falling due after more than one year 6 (408,000) (3,160,000)
Net assets/(liabilities) 169,456 (282,645)
Capital and reserves
Called up share capital 600 600
Profit and loss account 168,856 (283,245)
Shareholders' funds 169,456 (282,645)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ebrahim Kassim Bassa
Director
Approved by the board on 5 April 2024
HVM NORTH LIMITED
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 0
Including directors
3 Investments
Other
investments
£
Cost
At 1 September 2022 2,844,361
Disposals (2,229,386)
At 31 August 2023 614,975
4 Debtors 2023 2022
£ £
Trade debtors - 1,672
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 16,000
Payments on account - 42,000
- 59,672
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors (2,724) 27,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 8,200 22,000
Taxation and social security costs 42,443 (11,520)
Accruals 2,500 1,000
50,419 38,480
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 408,000 2,370,000
Other creditors - 790,000
408,000 3,160,000
7 Controlling party
The company's ultimate controlling party is Munshi Holdings Limited by virtue of ownership of
75% of the issued share capital in the company.
8 Other information
HVM NORTH LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1 Preston Road
Whittle Le Woods
Chorley
Lancashire
PR6 7PE
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