IRIS Accounts Production v24.2.0.383 SC597921 director 1.7.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC5979212022-06-30SC5979212023-06-30SC5979212022-07-012023-06-30SC5979212021-06-30SC5979212021-07-012022-06-30SC5979212022-06-30SC597921ns15:Scotland2022-07-012023-06-30SC597921ns14:PoundSterling2022-07-012023-06-30SC597921ns10:Director12022-07-012023-06-30SC597921ns10:PrivateLimitedCompanyLtd2022-07-012023-06-30SC597921ns10:SmallEntities2022-07-012023-06-30SC597921ns10:AuditExempt-NoAccountantsReport2022-07-012023-06-30SC597921ns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-30SC597921ns10:SmallCompaniesRegimeForAccounts2022-07-012023-06-30SC597921ns10:FullAccounts2022-07-012023-06-30SC597921ns10:RegisteredOffice2022-07-012023-06-30SC597921ns5:CurrentFinancialInstruments2023-06-30SC597921ns5:CurrentFinancialInstruments2022-06-30SC597921ns5:Non-currentFinancialInstruments2023-06-30SC597921ns5:Non-currentFinancialInstruments2022-06-30SC597921ns5:ShareCapital2023-06-30SC597921ns5:ShareCapital2022-06-30SC597921ns5:RetainedEarningsAccumulatedLosses2023-06-30SC597921ns5:RetainedEarningsAccumulatedLosses2022-06-30SC597921ns5:PlantMachinery2022-07-012023-06-30SC597921ns5:PlantMachinery2022-06-30SC597921ns5:PlantMachinery2023-06-30SC597921ns5:PlantMachinery2022-06-30SC597921ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-30SC597921ns5:WithinOneYearns5:CurrentFinancialInstruments2022-06-30SC597921ns5:CurrentFinancialInstruments2022-07-012023-06-30
REGISTERED NUMBER: SC597921 (Scotland)




















Hibiki Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023






Hibiki Limited (Registered number: SC597921)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hibiki Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mrs C M C Tong



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC597921 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Santander
2 Triton Square
Regent's Place
London
NW1 3AN

Hibiki Limited (Registered number: SC597921)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,649 8,606

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 5 507,389 186,704
Cash at bank 3,090 123,875
513,479 313,579
CREDITORS
Amounts falling due within one year 6 340,346 216,004
NET CURRENT ASSETS 173,133 97,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

177,782

106,181

CREDITORS
Amounts falling due after more than
one year

7

(21,262

)

(28,946

)

PROVISIONS FOR LIABILITIES (243 ) (365 )
NET ASSETS 156,277 76,870

Hibiki Limited (Registered number: SC597921)

Balance Sheet - continued
30 June 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 156,177 76,770
156,277 76,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 August 2024 and were signed by:





Mrs C M C Tong - Director


Hibiki Limited (Registered number: SC597921)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Hibiki Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover, which represents net invoiced sales of goods exclusive of value added tax, is recognised at the point when a meal is served or delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on cost and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

All loans with related parties are all repayable on demand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Hibiki Limited (Registered number: SC597921)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provision for liabilities
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

Hibiki Limited (Registered number: SC597921)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 18,740
DEPRECIATION
At 1 July 2022 10,134
Charge for year 3,957
At 30 June 2023 14,091
NET BOOK VALUE
At 30 June 2023 4,649
At 30 June 2022 8,606

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,194 1,813
Other debtors 506,195 184,891
507,389 186,704

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,290 6,895
Trade creditors 101,158 70,434
Taxation and social security 173,653 94,665
Other creditors 58,245 44,010
340,346 216,004

The director's loan account is unsecured, interest free and has no fixed repayment period.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 21,262 28,946

Hibiki Limited (Registered number: SC597921)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. RELATED PARTY DISCLOSURES

Jasmine Holdings (Edinburgh) Limited is a company in which Mrs C Tong is the director. During the year the company loaned £626,805 (2022: £288,194) to Jasmine Holdings (Edinburgh) Limited and Jasmine Holdings (Edinburgh) Limited repaid £310,498 (2022: £153,610) to the company. The balance due from Jasmine Holdings (Edinburgh) Limited at 30 June 2023 was £475,554 (2022: £159,247). The company paid management fees totalling £75,000 (2022: £75,000) for the year to Jasmine Holdings (Edinburgh) Limited.

Castle 45 Limited is a company in which Mrs C Tong is the director. During the year Castle 45 Limited paid expenses totalling £17,289 (2022: £17,052) on behalf of the company. The balance due to Castle 45 Limited at 30 June 2023 was £34,033 (2022: £16,744). The company paid rent totalling £84,000 (2022: £84,000) for the year to Castle 45 Limited.