Registered number
05676688
HB2G Limited
Unaudited Filleted Accounts
31 January 2024
HB2G Limited
Registered number: 05676688
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 288 338
Current assets
Debtors 4 102,176 868,858
Cash at bank and in hand 829,345 1,545,333
931,521 2,414,191
Creditors: amounts falling due within one year 5 (94,431) (1,726,975)
Net current assets 837,090 687,216
Net assets 837,378 687,554
Capital and reserves
Called up share capital 100 100
Profit and loss account 837,278 687,454
Shareholders' funds 837,378 687,554
The director is 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 director acknowledges his 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.
Mr A H Belizidia
Director
Approved by the board on 22 April 2024
HB2G Limited
Notes to the Accounts
for the year ended 31 January 2024
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 3,460
At 31 January 2024 3,460
Depreciation
At 1 February 2023 3,122
Charge for the year 50
At 31 January 2024 3,172
Net book value
At 31 January 2024 288
At 31 January 2023 338
4 Debtors 2024 2023
£ £
Trade debtors 1,639 158,809
Prepayments - 674,581
Other debtors 100,537 35,468
102,176 868,858
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 6,072 1,956
Taxation and social security costs 88,269 66,887
Other creditors 90 1,658,132
94,431 1,726,975
6 Controlling party
The company is owned and controlled by Mr A H Belizidia who has a majority shareholding.
7 Other information
HB2G Limited is a private company limited by shares and incorporated in England. Its registered office is:
15 Blenheim Road
Cheadle Hulme
Cheshire
SK8 7BD
HB2G Limited 05676688 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Mr A H Belizidia No description of principal activity 05676688 2022-02-01 2023-01-31 05676688 core:WithinOneYear 2023-01-31 05676688 core:ShareCapital 2023-01-31 05676688 core:RetainedEarningsAccumulatedLosses 2023-01-31 05676688 2023-02-01 2024-01-31 05676688 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05676688 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05676688 bus:Director40 2023-02-01 2024-01-31 05676688 1 2023-02-01 2024-01-31 05676688 2 2023-02-01 2024-01-31 05676688 core:PlantMachinery 2023-02-01 2024-01-31 05676688 countries:England 2023-02-01 2024-01-31 05676688 bus:FRS102 2023-02-01 2024-01-31 05676688 bus:FilletedAccounts 2023-02-01 2024-01-31 05676688 2024-01-31 05676688 core:WithinOneYear 2024-01-31 05676688 core:ShareCapital 2024-01-31 05676688 core:RetainedEarningsAccumulatedLosses 2024-01-31 05676688 core:PlantMachinery 2024-01-31 05676688 2023-01-31 05676688 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure