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REGISTERED NUMBER: 07408929 (England and Wales)















HURLEY ASSETS LIMITED

Unaudited Financial Statements for the Year Ended 31 October 2023






HURLEY ASSETS LIMITED (REGISTERED NUMBER: 07408929)






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HURLEY ASSETS LIMITED

Company Information
for the year ended 31 October 2023







DIRECTOR: A Soni





REGISTERED OFFICE: Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ





REGISTERED NUMBER: 07408929 (England and Wales)





ACCOUNTANTS: Tudor John Limited
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

HURLEY ASSETS LIMITED (REGISTERED NUMBER: 07408929)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,889 16,333

CURRENT ASSETS
Stocks 30,000 30,000
Debtors 5 62,547 121,421
Cash at bank and in hand 35,743 4,219
128,290 155,640
CREDITORS
Amounts falling due within one year 6 121,825 100,239
NET CURRENT ASSETS 6,465 55,401
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,354

71,734

CREDITORS
Amounts falling due after more than one year 7 149,850 149,850
NET LIABILITIES (132,496 ) (78,116 )

CAPITAL AND RESERVES
Called up share capital 150 150
Share premium 9 65,333 65,333
Retained earnings 9 (197,979 ) (143,599 )
SHAREHOLDERS' FUNDS (132,496 ) (78,116 )

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

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

The director acknowledges his 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.

HURLEY ASSETS LIMITED (REGISTERED NUMBER: 07408929)

Balance Sheet - continued
31 October 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 director and authorised for issue on 29 July 2024 and were signed by:





A Soni - Director


HURLEY ASSETS LIMITED (REGISTERED NUMBER: 07408929)

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Hurley Assets 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.

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.

The financial statements are presented in Sterling which is the functional currency of the company.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

HURLEY ASSETS LIMITED (REGISTERED NUMBER: 07408929)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 54,444
DEPRECIATION
At 1 November 2022 38,111
Charge for year 5,444
At 31 October 2023 43,555
NET BOOK VALUE
At 31 October 2023 10,889
At 31 October 2022 16,333

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 62,547 121,421

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 97,508 87,644
Taxation and social security 869 651
Other creditors 23,448 11,944
121,825 100,239

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 149,850 149,850

8. FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments.

HURLEY ASSETS LIMITED (REGISTERED NUMBER: 07408929)

Notes to the Financial Statements - continued
for the year ended 31 October 2023

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2022 (143,599 ) 65,333 (78,266 )
Deficit for the year (54,380 ) (54,380 )
At 31 October 2023 (197,979 ) 65,333 (132,646 )

10. RELATED PARTY DISCLOSURES

As at 31st October 2023, the company owed Mr A Soni, a director and shareholder of the company £29 (2022 - £29). This amount is included within other creditors due within one year.

In addition to the above, three of the shareholders of the company were owed £29,970 and one was owed £59,940, at the end of the current and prior year. This is included within other creditors due after one year and repayment will not be requested until the financial position of the company permits.