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Henry Adams HRR Commercial Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

Registration number: 13177127

 

Henry Adams HRR Commercial Ltd

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Henry Adams HRR Commercial Ltd

(Registration number: 13177127)
Statement of financial position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

960

360

Current assets

 

Debtors

5

20,372

19,239

Cash at bank and in hand

 

84,436

110,869

 

104,808

130,108

Creditors: Amounts falling due within one year

6

(77,865)

(102,884)

Net current assets

 

26,943

27,224

Total assets less current liabilities

 

27,903

27,584

Provisions for liabilities

(182)

(68)

Net assets

 

27,721

27,516

Capital and reserves

 

Called up share capital

7

100

100

Share premium reserve

24,975

24,975

Retained earnings

2,646

2,441

Shareholders' funds

 

27,721

27,516

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.

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 14 June 2024 and signed on its behalf by:
 

.........................................
Mr R W Crawford Clarke
Director

 

Henry Adams HRR Commercial 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 England.

The address of its registered office is:
50 Carfax
Horsham
West Sussex
RH12 1BP

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.

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.

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.

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.

 

Henry Adams HRR Commercial Ltd

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

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.

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

Fixtures, fittings and equipment

25% running balance

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made 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.

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.

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 3 (2023 - 3).

 

Henry Adams HRR Commercial Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

640

-

640

Additions

789

10,000

10,789

Disposals

-

(10,000)

(10,000)

At 31 March 2024

1,429

-

1,429

Depreciation

At 1 April 2023

280

-

280

Charge for the year

189

-

189

At 31 March 2024

469

-

469

Carrying amount

At 31 March 2024

960

-

960

At 31 March 2023

360

-

360

5

Debtors

Current

2024
£

2023
£

Trade debtors

19,959

18,792

Prepayments

338

372

Other debtors

75

75

 

20,372

19,239

 

Henry Adams HRR Commercial Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

4,181

3,233

Amounts owed to group undertakings and undertakings in which the company has a participating interest

37,500

52,500

Taxation and social security

 

25,903

27,725

Accruals and deferred income

 

2,250

1,400

Other creditors

 

8,031

18,026

 

77,865

102,884

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £30,580 (2023 - £11,905).