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Registration number: 04301381

Hungry Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Hungry Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 8

 

Hungry Limited

Company Information

Directors

RH White

SH White

Company secretary

I White

Registered office

Salatin House
19 Cedar Road
Sutton
England
SM2 5DA

Accountants

Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Hungry Limited

(Registration number: 04301381)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Non-current assets

 

Investments

5

227,413

227,413

Current assets

 

Receivables

6

128

366

Cash at bank and in hand

 

1,761

1,172

 

1,889

1,538

Payables: Amounts falling due within one year

8

(127,280)

(126,930)

Net current liabilities

 

(125,391)

(125,392)

Net assets

 

102,022

102,021

Equity

 

Called up share capital

9

110

110

Share premium reserve

190

190

Retained earnings

101,722

101,721

Shareholders' funds

 

102,022

102,021

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 and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 19 July 2024 and signed on its behalf by:
 

.........................................

RH White
Director

 

Hungry Limited

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

1

General information

Hungry Limited (the 'company') is a private company limited by share capital incorporated in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

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.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Revenue recognition

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

Taxation

The tax expense for the period comprises current 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.

 

Hungry Limited

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

2

Accounting policies (continued)

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.

Property, plant and equipment

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

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

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

Plant and machinery

20% on cost

Computer equipment

33.3% on cost

Investments

Investments in subsidiary undertakings are recognised at cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Receivables

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

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

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

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.

 

Hungry Limited

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

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Hungry Limited

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

4

Property, plant and equipment

Plant and
machinery
£

Computer
equipment
£

Total
£

Cost

At 1 April 2023

3,259

1,620

4,879

At 31 March 2024

3,259

1,620

4,879

Depreciation

At 1 April 2023

3,259

1,620

4,879

At 31 March 2024

3,259

1,620

4,879

Carrying amount

At 31 March 2024

-

-

-

5

Fixed asset Investments

Shares in
group
undertaking
£

Cost

At 1 April 2023 and at 31 March 2023

227,413

Provision

At 1 April 2023 and at 31 March 2023

-

Carrying amount

At 31 March 2024

227,413

At 31 March 2023

227,413

 

Hungry Limited

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

5

Fixed asset Investments (continued)

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Service Crew Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

England

Ordinary shares of £1 each

100%

100%

6

Receivables

Current

2024
£

2023
£

Other receivables

128

366

 

128

366

7

Cash and cash equivalents

2024
£

2023
£

Cash at bank

1,761

1,172

 

Hungry Limited

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

8

Payables

2024
£

2023
£

Due within one year

Other payables

124,000

125,000

Accruals

3,280

1,930

127,280

126,930

9

Share capital and reserves

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

A ordinary shares of £1 each

100

100

100

100

B ordinary shares of £1 each

10

10

10

10

 

110

110

110

110


Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.

The share premium reserve represents premium paid for new shares above their nominal value net of issue costs and bonus share issues. This reserve forms part of the company's non-distributable reserves.
 

10

Related party transactions

Managed Operations AI Limited is a company under common control. At year end, the company owed Managed Operations AI Limited £42,800 (2023 -£125,000). The company owes £81,200 (2023: £nil) to its subsidiary, Service Crew Limited. These loans are interest free - unsecured and have no fixed repayment date.