REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HHV LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HHV LIMITED |
HHV LIMITED (REGISTERED NUMBER: 06738557) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HHV LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Statutory Auditor |
Sterling House |
27 Hatchlands Road |
Redhill |
Surrey |
RH1 6RW |
HHV LIMITED (REGISTERED NUMBER: 06738557) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
HHV LIMITED (REGISTERED NUMBER: 06738557) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
HHV Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been rounded to the nearest pound (£). |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgement and estimates. The only items in the financial statements where these judgments and estimates have been made is in the depreciation rate of tangible fixed assets and provisions for doubtful debts. |
Turnover and revenue recognition |
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year in the normal course of business, net of trade discounts, VAT and other sales and related taxes. |
Revenue is recognised as and when the company is satisfies a performance obligation and the significant risks and rewards of ownership have been transferred to the customer, which may be upon shipment, delivery of goods to the customer, or post installation, based on specific contract terms. |
Tangible fixed assets |
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
Improvement on leasehold properties | - Over the lease term |
Office equipment and furniture | - 25% straight line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
HHV LIMITED (REGISTERED NUMBER: 06738557) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. The equity instrument is any contract the evidences a residual interest in the assets of the equity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating profit. |
Operating lease agreements |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits 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 are charged to profit or loss in the period to which they relate. |
Going concern |
The Ultimate parent company Hind High Vacuum Company Private Limited ("HHVCP") has confirmed that it intends to continue to provide sufficient funding to enable the company to meet its liabilities as they fall due and to carry on business for a period of at least twelve months from the date of approval of these accounts. The directors, having received this confirmation from HHVCP, have prepared the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from failure of HHVCP to provide the necessary financial support. |
HHV LIMITED (REGISTERED NUMBER: 06738557) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Office |
Improvements | equipment |
to | and |
property | furniture | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
At the balance sheet date, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £21,083 (2023: £44,083). |
HHV LIMITED (REGISTERED NUMBER: 06738557) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 31,000 | 31,000 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
11. | ULTIMATE CONTROLLING PARTY |
Hind High Vacuum Company Pvt Ltd, a company registered in India, is regarded by the directors as being the company's parent and ultimate controlling party. The registered office of Hind High Vacuum Company Private Ltd is NO. 17, PHASE -1, PEENYA INDUSTIRAL AREA, BANGALORE - 560058, INDIA. |