Company registration number 10873790 (England and Wales)
00HF LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
00HF LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
00HF LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Stock
3,052,000
6,080,999
Debtors
3
4,369
394,842
Cash at bank and in hand
12,486
31,671
3,068,855
6,507,512
Creditors: amounts falling due within one year
4
(5,384,982)
(6,508,810)
Net current liabilities
(2,316,127)
(1,298)
Creditors: amounts falling due after more than one year
5
(39,779)
-
0
Net liabilities
(2,355,906)
(1,298)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(2,356,006)
(1,398)
Total equity
(2,355,906)
(1,298)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 19 April 2024 and are signed on its behalf by:
Mr R V Townsend
Director
Company Registration No. 10873790
00HF LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 2 -
1
Accounting policies
Company information

00HF Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kingsnorth House, Blenheim Way, Kingstanding, Birmingham, West Midlands, United Kingdom, B44 8LS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have chosen to continue to prepare the financial statements on a going concern basis, because the company continues to have the financial support of both its directors and of the other companies within the group of which it is a member.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable from the sales of properties in the normal course of business, and is shown net of VAT.

Revenue from the sales of properties is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on completion of the conveyancing process), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Stock

Stock of properties under development is stated at the lower of cost and estimated selling price less costs to complete and sell, Cost comprises direct materials and those overhead costs that have been incurred in bringing the stock to its present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
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 current liabilities.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

00HF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
-
0
-
0
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
3,500
391,760
Other debtors
869
3,082
4,369
394,842
4
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
6
10,000
50,000
Other borrowings
6
4,222,189
5,441,072
Trade creditors
46,890
49,493
Amounts owed to group undertakings
996,457
855,507
Other creditors
109,446
112,738
5,384,982
6,508,810
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
39,779
-
0
00HF LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 4 -
6
Loans and overdrafts
2022
2021
£
£
Bank loans
49,779
50,000
Other loans
4,222,189
5,441,072
4,271,968
5,491,072
Payable within one year
4,232,189
5,491,072
Payable after one year
39,779
-
0

Bank loans are guaranteed by HM Government under the Bounce Back Loans legislation.

 

Other loans are secured by legal mortgages, and fixed and floating charges, over the company's existing and future stock of freehold land and buildings.

7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Related party transactions
2022
2021
Amounts due to related parties
£
£
10M Group Limited
484,457
855,507
2022
2021
Amounts due from related parties
£
£
00HH Limited
-
388,260
215BS Limited
3,500
3,500

10M Group Limited is a related party because it is the company's parent company.

00HH Limited and 215BS Limited are related to the company because they are both fellow subsidiaries within the group.

9
Parent company

The company is a subsidiary of 10M Group Limited, a company incorporated in England and Wales, whose registered office address is Kingsnorth House, Blenheim Way, Birmingham, West Midlands, B44 8LS.

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