Registered number
12321565
HEND MANAGEMENT LIMITED
Filleted Accounts
30 September 2023
HEND MANAGEMENT LIMITED
Registered number: 12321565
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 151,521 200,032
Investments 4 2 2
151,523 200,034
Current assets
Debtors 5 2,178,224 2,543,664
Cash at bank and in hand 656,944 327,230
2,835,168 2,870,894
Creditors: amounts falling due within one year 6 (146,572) (160,437)
Net current assets 2,688,596 2,710,457
Net assets 2,840,119 2,910,491
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,840,118 2,910,490
Shareholder's funds 2,840,119 2,910,491
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steven Ferris
Director
Approved by the board on 10 September 2024
HEND MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements over the lease term
Fixtures and fittings over 5 years
Office equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Work in progress
Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion. Work in progress is recognised to the extent that no right to consideration exists for work at the balance sheet date. It is valued at the lower of cost and net realisable value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Leashold improvemnents Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 1 October 2022 126,892 42,903 79,724 249,519
Additions - - 1,095 1,095
At 30 September 2023 126,892 42,903 80,819 250,614
Depreciation
At 1 October 2022 24,962 8,581 15,944 49,487
Charge for the year 24,963 8,580 16,063 49,606
At 30 September 2023 49,925 17,161 32,007 99,093
Net book value
At 30 September 2023 76,967 25,742 48,812 151,521
At 30 September 2022 101,930 34,322 63,780 200,032
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2022 2
At 30 September 2023 2
Historical cost
At 1 October 2022 2
At 30 September 2023 2
The company is the 100% owner of the ordinary share capital in Calvin Hobbes Ltd, a company incorporated in the UK.
5 Debtors 2023 2022
£ £
Trade debtors 760,000 740,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,415,851 1,803,664
Other debtors 2,373 -
2,178,224 2,543,664
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 52,415 25,000
Taxation and social security costs 38,041 134,886
Other creditors 56,116 551
146,572 160,437
7 Related party transactions
Loans made to subsidiary Calvin Hobbes Limited are the subject of an agreement dated 9 March 2020. The balance outstanding at 30 September 2023 is £1,415,851 [2022: £1,803,664]
8 Controlling party
K. A. Tointon is the controlling party.
9 Other information
HEND MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
44 Russell Square
London
WC1B 4JP
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