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REGISTERED NUMBER: 10653051 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

H and O Innovations Limited

H and O Innovations Limited (Registered number: 10653051)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H and O Innovations Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Dr H Gupta
Dr O Pereira





REGISTERED OFFICE: 3 Park Square East
Leeds
LS1 2NE





REGISTERED NUMBER: 10653051 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

H and O Innovations Limited (Registered number: 10653051)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,173
Tangible assets 5 12,480 22,344
Investments 6 3,000 3,000
15,480 27,517

CURRENT ASSETS
Debtors 7 90,957 36,502
Cash at bank 48,434 128,043
139,391 164,545
CREDITORS
Amounts falling due within one year 8 61,719 76,739
NET CURRENT ASSETS 77,672 87,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,152

115,323

CREDITORS
Amounts falling due after more than one
year

9

(19,998

)

(57,276

)

PROVISIONS FOR LIABILITIES 11 (2,372 ) (4,246 )
NET ASSETS 70,782 53,801

CAPITAL AND RESERVES
Called up share capital 12 3,000 3,000
Retained earnings 13 67,782 50,801
SHAREHOLDERS' FUNDS 70,782 53,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

H and O Innovations Limited (Registered number: 10653051)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 30 January 2024 and were signed on its behalf by:





Dr H Gupta - Director


H and O Innovations Limited (Registered number: 10653051)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

H and O Innovations 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of services provided, excluding value added tax.

Goodwill
Goodwill is depreciated on a straight line basis over 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

H and O Innovations Limited (Registered number: 10653051)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 10,857
AMORTISATION
At 1 June 2022 8,684
Amortisation for year 2,173
At 31 May 2023 10,857
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 2,173

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2022 65,938 5,294 71,232
Additions - 3,870 3,870
At 31 May 2023 65,938 9,164 75,102
DEPRECIATION
At 1 June 2022 45,059 3,829 48,888
Charge for year 13,188 546 13,734
At 31 May 2023 58,247 4,375 62,622
NET BOOK VALUE
At 31 May 2023 7,691 4,789 12,480
At 31 May 2022 20,879 1,465 22,344

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 June 2022
and 31 May 2023 3,000
NET BOOK VALUE
At 31 May 2023 3,000
At 31 May 2022 3,000

H and O Innovations Limited (Registered number: 10653051)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 46,709 -
Corporation tax debtor 31,308 29,720
Amounts owed from related undertaking 6,000 -
Prepayments 6,940 6,782
90,957 36,502

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Loan creditor 8,094 8,094
Hire purchase contracts - 6,756
Amounts owed to related
undertaking 51,323 51,323
Corporation tax - 8,487
Directors' current accounts 203 164
Accrued expenses 2,099 1,915
61,719 76,739

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loan creditor 19,998 27,208
Hire purchase contracts - 30,068
19,998 57,276

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme. The loan creditor carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 36,824

The above liabilities are secured against the assets to which they relate.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,372 4,246

H and O Innovations Limited (Registered number: 10653051)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2022 4,246
Credit to Income Statement during year (1,874 )
Balance at 31 May 2023 2,372

12. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
3,000 Ordinary £1 3,000 3,000

13. RESERVES
Retained
earnings
£   

At 1 June 2022 50,801
Profit for the year 67,481
Dividends (50,500 )
At 31 May 2023 67,782

14. RELATED PARTY DISCLOSURES

During the year the company raised invoices totalling £80,000 (2022: £80,000) to Skeletal Imaging Limited, a company of which Dr H Gupta and Dr O Pereira are both directors.

At 31 May 2023 the company was owed an amount of £6,000 (2022: £Nil) from Radiology Education Limited, a company of which Dr H Gupta and Dr O Pereira are both directors.

At 31 May 2023 the company owed an amount of £51,323 (2022: £51,323) to Skeletal Imaging Ltd.

During the year the company paid dividends totalling £50,500 (2022: £128,000) to its directors.

15. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors.