H & H (Midlands) Limited 10605980 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is letting of property and equipment. Digita Accounts Production Advanced 6.30.9574.0 true 10605980 2023-04-01 2024-03-31 10605980 2024-03-31 10605980 bus:OrdinaryShareClass1 2024-03-31 10605980 core:CurrentFinancialInstruments 2024-03-31 10605980 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10605980 core:PlantMachinery 2024-03-31 10605980 bus:SmallEntities 2023-04-01 2024-03-31 10605980 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10605980 bus:FullAccounts 2023-04-01 2024-03-31 10605980 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10605980 bus:RegisteredOffice 2023-04-01 2024-03-31 10605980 bus:Director1 2023-04-01 2024-03-31 10605980 bus:Director2 2023-04-01 2024-03-31 10605980 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 10605980 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10605980 core:PlantMachinery 2023-04-01 2024-03-31 10605980 countries:EnglandWales 2023-04-01 2024-03-31 10605980 2023-03-31 10605980 core:PlantMachinery 2023-03-31 10605980 2022-04-01 2023-03-31 10605980 2023-03-31 10605980 bus:OrdinaryShareClass1 2023-03-31 10605980 core:CurrentFinancialInstruments 2023-03-31 10605980 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10605980 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10605980

H & H (Midlands) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

H & H (Midlands) Limited

(Registration number: 10605980)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,614

3,485

Investment property

5

478,628

478,628

 

481,242

482,113

Current assets

 

Debtors

6

10,000

3,840

Cash at bank and in hand

 

2,387

33,026

 

12,387

36,866

Creditors: Amounts falling due within one year

7

(199,202)

(260,462)

Net current liabilities

 

(186,815)

(223,596)

Total assets less current liabilities

 

294,427

258,517

Provisions for liabilities

(18,161)

(13,969)

Net assets

 

276,266

244,548

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

276,166

244,448

Shareholders' funds

 

276,266

244,548

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.

 

H & H (Midlands) Limited

(Registration number: 10605980)
Balance Sheet as at 31 March 2024 (continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

Mr D K Hawtin
Director

N J Howell
Director

 
     
 

H & H (Midlands) Limited

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 and Wales.

The address of its registered office is:
7 Low March Industrial Estate
Low March
Daventry
Northants
NN11 4SD

These financial statements were authorised for issue by the Board on 18 September 2024.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Income from the letting of investment properties, equipment and other assets is recognised on an accruals basis over the term of the rental period.

 

H & H (Midlands) Limited

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

2

Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and equipment

25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

H & H (Midlands) Limited

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

2

Accounting policies (continued)

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.

Trade debtors

Trade debtors are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

H & H (Midlands) Limited

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

4

Tangible assets

Plant and machinery
£

Cost or valuation

At 1 April 2023

12,897

At 31 March 2024

12,897

Depreciation

At 1 April 2023

9,412

Charge for the year

871

At 31 March 2024

10,283

Carrying amount

At 31 March 2024

2,614

At 31 March 2023

3,485

5

Investment properties

2024
£

At 1 April

478,628

At 31 March

478,628

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2024
£

2023
£

Trade debtors

10,000

3,840

 

H & H (Midlands) Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

11,227

9,487

Accruals and deferred income

1,640

1,640

Other creditors

186,335

249,335

199,202

260,462

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100