Registered number
07560620
HIZO ENTERPRISES LIMITED
Unaudited Filleted Accounts
31 July 2023
HIZO ENTERPRISES LIMITED
Registered number: 07560620
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,794 612
Investments 4 1,944,778 1,805,976
1,955,572 1,806,588
Current assets
Debtors 5 287,707 42,750
Cash at bank and in hand 18,767 676
306,474 43,426
Creditors: amounts falling due within one year 6 (197,837) (1,164,638)
Net current assets/(liabilities) 108,637 (1,121,212)
Total assets less current liabilities 2,064,209 685,376
Creditors: amounts falling due after more than one year 7 (2,069,627) (548,562)
Net (liabilities)/assets (5,418) 136,814
Capital and reserves
Called up share capital 3 3
Profit and loss account (5,421) 136,811
Shareholders' funds (5,418) 136,814
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.
Sahin Anush
Director
Approved by the board on 29 July 2024
HIZO ENTERPRISES LIMITED
Notes to the Accounts
for the year ended 31 July 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 represent rent received or receivable, net of discounts and value added taxes.
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:
Fixtures, fittings, tools and equipment 20% Reducing Balance
Investments
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 3,106 - 3,106
Additions - 13,739 13,739
At 31 July 2023 3,106 13,739 16,845
Depreciation
At 1 August 2022 2,494 - 2,494
Charge for the year 122 3,435 3,557
At 31 July 2023 2,616 3,435 6,051
Net book value
At 31 July 2023 490 10,304 10,794
At 31 July 2022 612 - 612
4 Investments
Other
investments
£
Cost
At 1 August 2022 1,805,976
Additions 138,802
At 31 July 2023 1,944,778
5 Debtors 2023 2022
£ £
Trade debtors 3,788 -
Other debtors 283,919 42,750
287,707 42,750
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,000 1,083,230
Trade creditors 6,330 750
Taxation and social security costs 17,296 28,357
Other creditors 168,211 52,301
197,837 1,164,638
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 2,069,627 548,562
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 2,035,046 505,053
Bank loan secured against Investment Properties.
9 Other information
HIZO ENTERPRISES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Studio 6
6 Hornsey Street
London
N7 8GR
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