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REGISTERED NUMBER: 02852199 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

H & H CLASSICS LTD

H & H CLASSICS LTD (REGISTERED NUMBER: 02852199)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H & H CLASSICS LTD

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: C A Mckay
S J Davies
D J N Jones





REGISTERED OFFICE: Sterling House
Maple Court
Tankersley
Barnsley
S75 3DP





REGISTERED NUMBER: 02852199 (England and Wales)






H & H CLASSICS LTD (REGISTERED NUMBER: 02852199)

BALANCE SHEET
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,235 10,861
Tangible assets 5 45,360 70,123
50,595 80,984

CURRENT ASSETS
Debtors 6 181,717 219,871
Cash at bank and in hand 172,101 403,904
353,818 623,775
CREDITORS
Amounts falling due within one year 7 300,660 441,856
NET CURRENT ASSETS 53,158 181,919
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,753

262,903

PROVISIONS FOR LIABILITIES - 1,904
NET ASSETS 103,753 260,999

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 103,653 260,899
103,753 260,999

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

H & H CLASSICS LTD (REGISTERED NUMBER: 02852199)

BALANCE SHEET - continued
31 January 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 30 October 2024 and were signed on its behalf by:





C A Mckay - Director


H & H CLASSICS LTD (REGISTERED NUMBER: 02852199)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

H & H Classics Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Preparation of consolidated financial statements
The financial statements contain information about H & H Classics Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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 reducing balance, 20% on cost, 15% on reducing balance and 10% on cost

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and to finance the company's operations. Due to the nature of the financial instruments used by the company there is no significant exposure to price risk, credit risk, liquidity risk or cash flow risk.

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.


H & H CLASSICS LTD (REGISTERED NUMBER: 02852199)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

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.

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 15 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 37,605
AMORTISATION
At 1 February 2023 26,744
Charge for year 5,626
At 31 January 2024 32,370
NET BOOK VALUE
At 31 January 2024 5,235
At 31 January 2023 10,861

H & H CLASSICS LTD (REGISTERED NUMBER: 02852199)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 250,663
Additions 4,523
Disposals (29,242 )
At 31 January 2024 225,944
DEPRECIATION
At 1 February 2023 180,540
Charge for year 19,787
Eliminated on disposal (19,743 )
At 31 January 2024 180,584
NET BOOK VALUE
At 31 January 2024 45,360
At 31 January 2023 70,123

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 35,871 32,221
Other debtors 145,846 187,650
181,717 219,871

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 174,349 199,287
Taxation and social security 108,657 137,547
Other creditors 17,654 105,022
300,660 441,856

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.24 31.1.23
£    £   
Within one year 49,000 49,000
Between one and five years 81,667 130,667
130,667 179,667

H & H CLASSICS LTD (REGISTERED NUMBER: 02852199)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

9. RELATED PARTY DISCLOSURES

During the year, the company voted a dividend of £300,000 to the parent entity in respect of an employee ownership trust transaction. This dividend has consequently reduced the company's retained earnings by the equivalent amount.