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Registration number: 05714967

HR 180 Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

HR 180 Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

HR 180 Ltd

(Registration number: 05714967)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

62,171

14,415

Current assets

 

Debtors

6

366,932

411,362

Cash at bank and in hand

 

510,331

509,070

 

877,263

920,432

Creditors: Amounts falling due within one year

7

(139,728)

(177,363)

Net current assets

 

737,535

743,069

Total assets less current liabilities

 

799,706

757,484

Provisions for liabilities

(11,756)

(2,739)

Net assets

 

787,950

754,745

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

787,750

754,545

Shareholders' funds

 

787,950

754,745

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.

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.

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 

Mrs C E Morley-Jones
Director

   
     
 

HR 180 Ltd

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 United Kingdom.

The address of its registered office is:
Oak House
Unit E, Parkhill
Walton Road
Wetherby
LS22 5DZ

The principal place of business is:
Oak House
Unit E, Parkhill
Walton Road
Wetherby
LS22 5DZ

These financial statements were authorised for issue by the Board on 13 August 2024.

2

Accounting policies

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 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 sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

HR 180 Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

25% Reducing balance

Fixtures and fittings

25% Reducing balance

Leasehold improvements

20% Straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 12).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

17,764

5,495

 

HR 180 Ltd

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

11,560

28,259

-

39,819

Additions

-

791

65,000

65,791

Disposals

-

(2,354)

-

(2,354)

At 31 March 2024

11,560

26,696

65,000

103,256

Depreciation

At 1 April 2023

7,003

18,401

-

25,404

Charge for the year

1,866

2,462

13,438

17,766

Eliminated on disposal

-

(2,085)

-

(2,085)

At 31 March 2024

8,869

18,778

13,438

41,085

Carrying amount

At 31 March 2024

2,691

7,918

51,562

62,171

At 31 March 2023

4,557

9,858

-

14,415

Included within the net book value of land and buildings above is £2,691 (2023 - £4,557) in respect of short leasehold land and buildings.
 

6

Debtors

Current

2024
£

2023
£

Trade debtors

30,068

56,045

Prepayments

4,899

5,098

Other debtors

331,965

350,219

 

366,932

411,362

 

HR 180 Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

37,422

51,002

Trade creditors

 

290

290

Taxation and social security

 

67,422

114,016

Accruals and deferred income

 

24,150

1,450

Other creditors

 

10,444

10,605

 

139,728

177,363

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary A shares of £1 each

85

85

85

85

Ordinary B shares of £1 each

12

12

12

12

Ordinary C shares of £1 each

3

3

3

3

200

200

200

200

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

37,422

51,002