HMS Hem Limited 10994027 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of a property rental company. Digita Accounts Production Advanced 6.30.9574.0 true true 10994027 2023-04-01 2024-03-31 10994027 2024-03-31 10994027 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 10994027 core:CurrentFinancialInstruments 2024-03-31 10994027 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10994027 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10994027 core:FurnitureFittingsToolsEquipment 2024-03-31 10994027 bus:SmallEntities 2023-04-01 2024-03-31 10994027 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10994027 bus:FullAccounts 2023-04-01 2024-03-31 10994027 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10994027 bus:RegisteredOffice 2023-04-01 2024-03-31 10994027 bus:Director1 2023-04-01 2024-03-31 10994027 bus:Director2 2023-04-01 2024-03-31 10994027 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10994027 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 10994027 core:OfficeEquipment 2023-04-01 2024-03-31 10994027 countries:EnglandWales 2023-04-01 2024-03-31 10994027 2023-03-31 10994027 core:FurnitureFittingsToolsEquipment 2023-03-31 10994027 2022-04-01 2023-03-31 10994027 2023-03-31 10994027 core:CurrentFinancialInstruments 2023-03-31 10994027 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10994027 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10994027 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 10994027

HMS Hem Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

HMS Hem Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

HMS Hem Limited

(Registration number: 10994027)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,332

2,494

Investment property

5

5,527,117

4,484,002

Other financial assets

6

5,144

-

 

5,533,593

4,486,496

Current assets

 

Debtors

7

1,007

6,282

Cash at bank and in hand

 

19,837

73,141

 

20,844

79,423

Creditors: Amounts falling due within one year

8

(1,631,749)

(1,404,432)

Net current liabilities

 

(1,610,905)

(1,325,009)

Total assets less current liabilities

 

3,922,688

3,161,487

Creditors: Amounts falling due after more than one year

8

(3,907,445)

(3,196,816)

Provisions for liabilities

(64,752)

(64,752)

Net liabilities

 

(49,509)

(100,081)

Capital and reserves

 

Called up share capital

100

100

Fair value reserve

234,687

274,668

Retained earnings

(284,296)

(374,849)

Shareholders' deficit

 

(49,509)

(100,081)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

HMS Hem Limited

(Registration number: 10994027)
Statement of Financial Position as at 31 March 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 9 August 2024 and signed on its behalf by:
 

.........................................
Ms H Stalebro
Director

.........................................
Mr R J Morley
Director

 
     
 

HMS Hem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
One Express
1 George Leigh Street
Manchester
M4 5DL

These financial statements were authorised for issue by the Board on 9 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The statement of financial position is showing negative reserves for the year ended 31st March 2023 but the directors have shown a willingness to support the company,therefore these financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

HMS Hem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years Straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

HMS Hem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

3,487

3,487

At 31 March 2024

3,487

3,487

Depreciation

At 1 April 2023

993

993

Charge for the year

1,162

1,162

At 31 March 2024

2,155

2,155

Carrying amount

At 31 March 2024

1,332

1,332

At 31 March 2023

2,494

2,494

5

Investment properties

2024
£

At 1 April

4,484,002

Additions

1,003,134

Fair value adjustments

39,981

At 31 March

5,527,117

There has been no valuation of investment property by an independent valuer.

 

HMS Hem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

5,144

5,144

At 31 March 2024

5,144

5,144

Impairment

Carrying amount

At 31 March 2024

5,144

5,144

7

Debtors

2024
£

2023
£

Prepayments

559

4,534

Other debtors

448

1,748

1,007

6,282

 

HMS Hem Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

6,363

4,763

Taxation and social security

-

2,061

Accruals and deferred income

3,150

6,445

Other creditors

1,622,236

1,391,163

1,631,749

1,404,432

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

3,907,445

3,196,816