Company Registration No. 14419651 (England and Wales)
The Hvn Wellbeing Ltd
Unaudited accounts
for the period from 14 October 2022 to 31 December 2023
The Hvn Wellbeing Ltd
Unaudited accounts
Contents
The Hvn Wellbeing Ltd
Company Information
for the period from 14 October 2022 to 31 December 2023
Directors
Massimo GIOIELLA
Silvia ANGARANO
Company Number
14419651 (England and Wales)
Registered Office
57-63 Knightsbridge
London
SW1X 7BF
England
Accountants
The Peek Partnership Limited
Unit 1, Chancerygate Business Center
Stonefield Way
Ruislip
Middlesex
HA4 0JA
The Hvn Wellbeing Ltd
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
237
Creditors: amounts falling due within one year
(204,318)
Net current liabilities
(89,477)
Total assets less current liabilities
246,536
Creditors: amounts falling due after more than one year
(1,052,691)
Called up share capital
10
Profit and loss account
(806,165)
Shareholders' funds
(806,155)
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by
Massimo GIOIELLA
Director
Company Registration No. 14419651
The Hvn Wellbeing Ltd
Notes to the Accounts
for the period from 14 October 2022 to 31 December 2023
The Hvn Wellbeing Ltd is a private company, limited by shares, registered in England and Wales, registration number 14419651. The registered office is 57-63 Knightsbridge, London, SW1X 7BF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line 25%
Fixtures & fittings
Straight Line 25%
Computer equipment
Straight Line 25%
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The directors of the company have a reasonable assurance from the shareholders that the company will continue to receive financial support to provide adequate resources to continue in its operational existence for the foreseeable future, being at least 12 months from the date of signing these financial statements.
On this basis, the financial statements have been prepared on a going concern basis, which assumes the company will be able to meet its liabilities as and when they fall due for the foreseeable future. As of 31st December 2023, the company has net current liabilities of £204,318 and net liabilities of £806155. These include a shareholder's loan of £1,052,691 from its immediate parent company as well as (if applicable) non-current liabilities owed to the shareholders of the parent company.
The Hvn Wellbeing Ltd
Notes to the Accounts
for the period from 14 October 2022 to 31 December 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 14 October 2022
-
-
-
-
Additions
206,147
119,611
65,315
391,073
At 31 December 2023
206,147
119,611
65,315
391,073
Charge for the period
18,972
22,784
13,304
55,060
At 31 December 2023
18,972
22,784
13,304
55,060
At 31 December 2023
187,175
96,827
52,011
336,013
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
Taxes and social security
15,983
7
Creditors: amounts falling due after more than one year
2023
There is an amount of £ 1,052,691 in Creditors due after one year owed to Advitam Wellness Ltd, is the 100% shareholder of the company. Included in creditors £674,691 is for convertible loan which will be transferred as ordinary shares when the condition is met .
Allotted, called up and fully paid:
100 Ordinary shares of £0.10 each
10
The Hvn Wellbeing Ltd
Notes to the Accounts
for the period from 14 October 2022 to 31 December 2023
9
Transactions with related parties
There is an amount of £ 1,052,691 in Creditors due after one year owed to Advitam Wellness Ltd, a company is the owner of The HVN Welbeing Limited by virtue of 100% shareholdings.
The controlling party of the company is Advitam Welness Limited , a company incorporated in England and Wales with the registered address at 57-63 Knightsbridge, London, England, SW1X 7BF
11
Average number of employees
During the period the average number of employees was 5.