0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 20,994 20,994 1,312 3,499 4,811 19,682 xbrli:pure xbrli:shares iso4217:GBP 12801246 2023-09-01 2024-04-30 12801246 2024-04-30 12801246 2023-08-31 12801246 2022-09-01 2023-08-31 12801246 2023-08-31 12801246 2022-08-31 12801246 core:PlantMachinery 2023-09-01 2024-04-30 12801246 bus:OrdinaryShareClass1 2023-09-01 2024-04-30 12801246 bus:Director1 2023-09-01 2024-04-30 12801246 core:WithinOneYear 2024-04-30 12801246 core:WithinOneYear 2023-08-31 12801246 core:PlantMachinery 2023-08-31 12801246 core:ShareCapital 2024-04-30 12801246 core:ShareCapital 2023-08-31 12801246 core:RetainedEarningsAccumulatedLosses 2023-08-31 12801246 core:PlantMachinery 2023-08-31 12801246 bus:SmallEntities 2023-09-01 2024-04-30 12801246 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-04-30 12801246 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-04-30 12801246 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-04-30 12801246 bus:FullAccounts 2023-09-01 2024-04-30 12801246 bus:OrdinaryShareClass1 2024-04-30 12801246 bus:OrdinaryShareClass1 2023-08-31
COMPANY REGISTRATION NUMBER: 12801246
HC Basements Limited
Filleted Unaudited Financial Statements
30 April 2024
HC Basements Limited
Financial Statements
Period from 1 September 2023 to 30 April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
HC Basements Limited
Statement of Financial Position
30 April 2024
30 Apr 24
31 Aug 23
Note
£
£
£
£
Fixed assets
Tangible assets
4
19,682
Current assets
Debtors
5
790
895
Cash at bank and in hand
5,180
8,102
-------
-------
5,970
8,997
Creditors: amounts falling due within one year
6
5,969
22,257
-------
--------
Net current assets/(liabilities)
1
( 13,260)
----
--------
Total assets less current liabilities
1
6,422
----
-------
Net assets
1
6,422
----
-------
Capital and reserves
Called up share capital
7
1
1
Profit and loss account
6,421
----
-------
Shareholder funds
1
6,422
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HC Basements Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 11 November 2024 , and are signed on behalf of the board by:
Mr N West
Director
Company registration number: 12801246
HC Basements Limited
Notes to the Financial Statements
Period from 1 September 2023 to 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, United Kingdom, HA2 0DH. The company ceased to trade on 30th April 2024
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Tangible assets
Plant and machinery
£
Cost
At 1 September 2023
20,994
Disposals
( 20,994)
--------
At 30 April 2024
--------
Depreciation
At 1 September 2023
1,312
Charge for the period
3,499
Disposals
( 4,811)
--------
At 30 April 2024
--------
Carrying amount
At 30 April 2024
--------
At 31 August 2023
19,682
--------
5. Debtors
30 Apr 24
31 Aug 23
£
£
Trade debtors
790
Other debtors
895
----
----
790
895
----
----
6. Creditors: amounts falling due within one year
30 Apr 24
31 Aug 23
£
£
Accruals and deferred income
1,758
1,500
Corporation tax
3,348
802
Director loan accounts
863
19,955
-------
--------
5,969
22,257
-------
--------
7. Called up share capital
Issued, called up and fully paid
30 Apr 24
31 Aug 23
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----