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REGISTERED NUMBER: 04917876 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

HWO Limited

HWO Limited (Registered number: 04917876)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

HWO Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr N F Khalili
Ms R S Salgado





SECRETARY: Ms R S Salgado





REGISTERED OFFICE: Sterling Partners Limited
Units 15 & 16,
7 Wenlock Road,
London
N1 7SL





REGISTERED NUMBER: 04917876 (England and Wales)





ACCOUNTANTS: Sterling Partners Ltd
Chartered Accountants
Chartered Tax Advisors
Units 15 and 16
7 Wenlock Road
London
N1 7SL

HWO Limited (Registered number: 04917876)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,432 2,604

CURRENT ASSETS
Debtors 5 4,641 10,580
Cash at bank 4,404 3,670
9,045 14,250
CREDITORS
Amounts falling due within one year 6 (61,107 ) (22,376 )
NET CURRENT LIABILITIES (52,062 ) (8,126 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(47,630

)

(5,522

)

CREDITORS
Amounts falling due after more than one
year

7

(426,938

)

(542,868

)

PROVISIONS FOR LIABILITIES 9 (1,108 ) -
NET LIABILITIES (475,676 ) (548,390 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (475,776 ) (548,490 )
SHAREHOLDERS' FUNDS (475,676 ) (548,390 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HWO Limited (Registered number: 04917876)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 9 October 2024 and were signed on its behalf by:





Mr N F Khalili - Director


HWO Limited (Registered number: 04917876)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

HWO Limited is a private company, limited by shares , registered in England and Wales. 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.

As at 31st March 2024, the company had net current liabilities of £52,062 (2023: £8,126) and total net liabilities of £475,676 (2023: £548,390). The company relies on the loan funding provided by its investors and bank. The director is of the opinion that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by its investors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 33% on reducing balance
Fixtures and fittings - 25% on reducing balance

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

HWO Limited (Registered number: 04917876)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 44,657
Additions 3,791
At 31 March 2024 48,448
DEPRECIATION
At 1 April 2023 42,053
Charge for year 1,963
At 31 March 2024 44,016
NET BOOK VALUE
At 31 March 2024 4,432
At 31 March 2023 2,604

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors - 3,400
Net Wages control - 30
Social security and other tax 67 -
VAT - 2,576
67 6,006

Amounts falling due after more than one year:
Rent deposit 4,574 4,574

Aggregate amounts 4,641 10,580

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,255 5,647
Trade creditors 4,549 5,649
Social security and other taxes - 3,780
Pension fund 257 362
VAT 23,661 -
Other creditors 4,985 1,538
Accrued expenses 5,400 5,400
61,107 22,376

HWO Limited (Registered number: 04917876)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,647 5,647
Bank loans - 2-5 years 2,939 6,588
Directors' loan accounts 418,352 530,633
426,938 542,868

8. FINANCIAL INSTRUMENTS

Bank Loans are initially measured at cost.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 1,108 -

Deferred
tax
£   
Charge to Income Statement during year 1,108
Balance at 31 March 2024 1,108

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr N F Khalili and Ms R S Salgado
Balance outstanding at start of year (530,633 ) (515,274 )
Amounts advanced 238,000 266,050
Amounts repaid (125,719 ) (281,409 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (418,352 ) (530,633 )

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
HWO Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HWO Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of HWO Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of HWO Limited and state those matters that we have agreed to state to the Board of Directors of HWO Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HWO Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that HWO Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of HWO Limited. You consider that HWO Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of HWO Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sterling Partners Ltd
Chartered Accountants
Chartered Tax Advisors
Units 15 and 16
7 Wenlock Road
London
N1 7SL


Date: .............................................