Company Registration No. 07734995 (England and Wales)
HML Investment Holdings Limited
Unaudited accounts
for the year ended 31 March 2024
HML Investment Holdings Limited
Unaudited accounts
Contents
HML Investment Holdings Limited
Company Information
for the year ended 31 March 2024
Director
Stuart David Rogan
Company Number
07734995 (England and Wales)
Registered Office
3E BOLTON AVENUE
HUNCOAT
ACCRINGTON
LANCASHIRE
BB5 6NJ
HML Investment Holdings Limited
Statement of financial position
as at 31 March 2024
Tangible assets
2,841,985
2,957,831
Cash at bank and in hand
5,920
-
Creditors: amounts falling due within one year
(1,396,226)
(1,085,283)
Net current liabilities
(1,076,796)
(808,963)
Total assets less current liabilities
1,810,489
2,194,168
Creditors: amounts falling due after more than one year
(1,071,207)
(1,551,196)
Provisions for liabilities
Other provisions
(135,700)
(84,112)
Net assets
603,582
558,860
Called up share capital
200
200
Profit and loss account
603,382
558,660
Shareholders' funds
603,582
558,860
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 August 2024 and were signed on its behalf by
Stuart David Rogan
Director
Company Registration No. 07734995
HML Investment Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
HML Investment Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 07734995. The registered office is 3E BOLTON AVENUE, HUNCOAT, ACCRINGTON, LANCASHIRE, BB5 6NJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Preparation of consolidated finance statements
The financial statements contain information about HML Investment Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
HML Investment Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
1,835,391
1,440,757
508,254
17,327
3,801,729
Additions
50,443
-
61,432
-
111,875
Disposals
-
-
(49,418)
-
(49,418)
At 31 March 2024
1,885,834
1,440,757
520,268
17,327
3,864,186
At 1 April 2023
-
591,411
250,869
1,618
843,898
Charge for the year
-
127,404
64,292
3,927
195,623
On disposals
-
-
(17,320)
-
(17,320)
At 31 March 2024
-
718,815
297,841
5,545
1,022,201
At 31 March 2024
1,885,834
721,942
222,427
11,782
2,841,985
At 31 March 2023
1,835,391
849,346
257,385
15,709
2,957,831
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
528,873
627,125
- Motor vehicles
153,172
204,230
5
Investments
Other investments
Valuation at 1 April 2023
45,300
Valuation at 31 March 2024
45,300
Investments in subsidiary undertakings are recognised at cost.
Amounts falling due within one year
Amounts due from group undertakings etc.
276,320
276,320
Accrued income and prepayments
350
-
HML Investment Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
99,874
165,348
Obligations under finance leases and hire purchase contracts
216,593
231,774
Trade creditors
5,460
29,906
Amounts owed to group undertakings and other participating interests
1,047,358
617,232
Amounts due under HP Agreements are secured over the fixed assets to which they relate. Amounts secured due within one year are £216,593 (2023 - £231,774).
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
712,708
702,127
Obligations under finance leases and hire purchase contracts
172,352
397,365
Loans from directors
186,147
451,704
Amounts due under HP Agreements are secured over the fixed assets to which they relate. Amounts secured due within one year are £177,352 (2023 - £397,365).
The company has guaranteed bank loans to group undertakings. At the year end, liabilities covered by those guarantees amounted to £111,431 (2021 - £155,083).
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's Loan Balance
(451,704)
268,556
3,000
(186,148)
(451,704)
268,556
3,000
(186,148)
During the year, the director withdrew £94,000 of the balance owing to him and £174,556 transferred to Intercompany, and loaned a further £3,000 to the company.
11
Transactions with related parties
At the year end, the company was owed £186,620 (2023 - £186,620) from the ultimate parent company, Siko Metallo Limited.
At the year end, the company was owed £89,700 (2023 - £700) from HML Commerical Property Limited, a company under common control of the director.
At the year end, the company owed £1,047,358 (2023 - £617,232) to their subsidiary company, HML Recycling Limited.
During the year, the company invoiced it's subsidiary, HML Recycling Limited £435,840 in sales (2023 - £374,320).
HML Investment Holdings Limited
Notes to the Accounts
for the year ended 31 March 2024
The ultimate holding company is Sika Metallo Limited, a company registered in England and Wales.
13
Average number of employees
During the year the average number of employees was 1 (2023: 1).