Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 10 September 2024 1 January 2023 31 December 2023 31 December 2023 11813775 Mr C Baccianti Mr S Harmoozi Shahab Lutfi Harmoozi false iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11813775 2022-12-31 11813775 2023-12-31 11813775 2023-01-01 2023-12-31 11813775 frs-core:CurrentFinancialInstruments 2023-12-31 11813775 frs-core:ShareCapital 2023-12-31 11813775 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11813775 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11813775 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11813775 frs-bus:SmallEntities 2023-01-01 2023-12-31 11813775 frs-bus:Audited 2023-01-01 2023-12-31 11813775 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11813775 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11813775 frs-bus:OrdinaryShareClass1 2023-12-31 11813775 1 2023-01-01 2023-12-31 11813775 frs-bus:Director1 2023-01-01 2023-12-31 11813775 frs-bus:Director2 2023-01-01 2023-12-31 11813775 frs-countries:EnglandWales 2023-01-01 2023-12-31 11813775 2021-12-31 11813775 2022-12-31 11813775 2022-01-01 2022-12-31 11813775 frs-core:CurrentFinancialInstruments 2022-12-31 11813775 frs-core:ShareCapital 2022-12-31 11813775 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 11813775 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31
Registered number: 11813775
H&H Europe Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—5
Page 1
Company Information
Directors Mr C Baccianti
Mr S Harmoozi
Company Number 11813775
Registered Office 6th Floor
25 Farringdon Street
London
EC4A 4AB
Auditors Sumer Audit
5 Peveril Court
6-8 London Road
Crawley
West Sussex
RH10 8JE
Page 1
Page 2
Balance Sheet
Registered number: 11813775
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 315 350
Cash at bank and in hand 114,461 115,406
114,776 115,756
Creditors: Amounts Falling Due Within One Year 5 (389,499 ) (257,259 )
NET CURRENT ASSETS (LIABILITIES) (274,723 ) (141,503 )
TOTAL ASSETS LESS CURRENT LIABILITIES (274,723 ) (141,503 )
NET LIABILITIES (274,723 ) (141,503 )
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account (274,823 ) (141,603 )
SHAREHOLDERS' FUNDS (274,723) (141,503)
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 26 September 2024 and were signed on its behalf by:
Mr S Harmoozi
Director
26/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
H&H Europe Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11813775 . The registered office is 6th Floor , 25 Farringdon Street, London, EC4A 4AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

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 £.
2.2. Going Concern Disclosure
The directors consider the going concern basis appropriate despite the negative reserves. The company meets its working capital requirement by way of support from its parent company. The parent company has confirmed that it will continue to support the company so that it will settle liabilities as they fall due for a period of 12 months from the date of signing the financial statements. The directors believe future forecasts, together with parent company support are satisfactory to ensure the going concern basis of accounting is appropriate.

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty in relation to the appropriateness of continuing to adopt the going concern basis in preparing the financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.5. Financial Instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised.
2.8. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include deposits held at call with banks.
3. Average Number of Employees
The average monthly number of persons (excluding directors) employed by the company during the year was as follows: NIL (2022: NIL)
- -
4. Debtors
2023 2022
£ £
Due within one year
Other debtors 315 350
315 350
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 451 -
Accruals and deferred income 8,050 8,928
Amounts owed to group undertakings 380,998 248,331
389,499 257,259
6. Share Capital
2023 2022
Allotted, called up and fully paid £ £
200 Ordinary Shares of £ 0.50 each 100 100
7. Related Party Transactions
During the year, H&H Procurement LLC, the Company's immediate parent charged the Company £15,000 (2022: £15,000) in management fees for the provision of support and management services. The amounts due to H&H Procurement LLC at the end of the year was £380,998 (2022: £248,331).
8. Parent Undertaking and Controlling Party
The company's immediate parent undertaking is H&H Procurement LLC. H&H Procurement LLC is incorporated in the United Arab Emirates. The controlling party is Shahab Lutfi Harmoozi who controls 62.50% of the shares of H&H Procurement LLC.
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9. Audit Information
The auditors report on the account of H&H Europe Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Tony Summers BA FA (Senior Statutory Auditor) for and on behalf of Sumer Audit , Statutory Auditor
Sumer Audit
5 Peveril Court
6-8 London Road
Crawley
West Sussex
RH10 8JE
Page 5