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REGISTERED NUMBER: 05064708 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

HMC Group Ltd

HMC Group Ltd (Registered number: 05064708)






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


HMC Group Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J H McArdle
M H McArdle
M M McArdle
M S McArdle
R McArdle
D McArdle





REGISTERED OFFICE: 140 Coniscliffe Road
DARLINGTON
County Durham
DL3 7RT





REGISTERED NUMBER: 05064708 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

HMC Group Ltd (Registered number: 05064708)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 110,024 6,395
Investments 6 3,521,052 3,231,672
Investment property 7 50,000 50,000
3,681,076 3,288,067

CURRENT ASSETS
Debtors 8 11,791,344 7,965,391
Cash at bank and in hand 299,248 3,407,567
12,090,592 11,372,958
CREDITORS
Amounts falling due within one year 9 2,229,915 1,650,311
NET CURRENT ASSETS 9,860,677 9,722,647
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,541,753

13,010,714

CREDITORS
Amounts falling due after more than one
year

10

120,000

-
NET ASSETS 13,421,753 13,010,714

CAPITAL AND RESERVES
Called up share capital 11 100,000 100,000
Fixed asset investments 3,520,947 3,231,667
Retained earnings 9,800,806 9,679,047
SHAREHOLDERS' FUNDS 13,421,753 13,010,714

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.

HMC Group Ltd (Registered number: 05064708)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2024 and were signed on its behalf by:





M H McArdle - Director


HMC Group Ltd (Registered number: 05064708)

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

1. STATUTORY INFORMATION

HMC Group 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Preparation of consolidated financial statements
The financial statements contain information about HMC Group 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.

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.

Development costs have been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% - 33% on cost
Motor vehicles - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss accountProfit and Loss Account, 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.


HMC Group Ltd (Registered number: 05064708)

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

Fixed asset investments
Shares in group undertakings are revalued to show the value of the underlying net assets where, in the opinion of the directors, such treatment is necessary in order to give a true and fair view, otherwise they are shown at cost. Changes in fair value are recognised in other comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 April 2023
and 31 March 2024 25,000
AMORTISATION
At 1 April 2023
and 31 March 2024 25,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

HMC Group Ltd (Registered number: 05064708)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2023 232,150 15,417 247,567
Additions - 123,231 123,231
At 31 March 2024 232,150 138,648 370,798
DEPRECIATION
At 1 April 2023 231,752 9,420 241,172
Charge for year 88 19,514 19,602
At 31 March 2024 231,840 28,934 260,774
NET BOOK VALUE
At 31 March 2024 310 109,714 110,024
At 31 March 2023 398 5,997 6,395

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 April 2023 3,231,672
Additions 100
Revaluations 289,280
At 31 March 2024 3,521,052
NET BOOK VALUE
At 31 March 2024 3,521,052
At 31 March 2023 3,231,672

HMC Group Ltd (Registered number: 05064708)

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

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 March 2024 is represented by:

Shares in
group
undertakings
£
Valuation in 2007 65,989
Valuation in 2014 1,728,416
Valuation in 2015 797,727
Valuation in 2016 1,590,928
Valuation in 2017 601,833
Valuation in 2018 (531,260 )
Valuation in 2019 448,056
Valuation in 2020 2,350,861
Valuation in 2021 (4,511,480 )
Valuation in 2023 690,597
Valuation in 2024 289,280
Cost 105
3,521,052

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 105 5

Fixed asset investments were valued on a net asset basis on 31 March 2024 by the directors.

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 50,000
At 31 March 2023 50,000

The directors have reviewed the valuation of the investment property in accordance with FRS 102 Section 1A and believe that it represents fair value as at 31 March 2024.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 27,000
Amounts owed by group undertakings 11,604,423 7,668,012
Other debtors 169,531 172,010
Prepayments and accrued income 17,390 98,369
11,791,344 7,965,391

HMC Group Ltd (Registered number: 05064708)

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

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,762 66,268
Amounts owed to group undertakings 1,306,917 645,806
Taxation and social security 5,570 1,805
Other creditors 480 244
Directors' current accounts 905,539 910,380
Accruals and deferred income 8,647 25,808
2,229,915 1,650,311

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Directors' loan accounts 120,000 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary £1 100,000 100,000

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group nor transactions conducted at a market rate.

2024 2023
£ £

Amounts due to director 1,025,539 910,380

No interest has been charged.

13. ULTIMATE PARENT COMPANY

The controlling party is HMC Group Holdings Limited.

The ultimate parent company is HMC Group Holdings Limited, a company registered in Jersey, registered office address: 3rd Floor, 37 Esplanade, St Helier, Channel Islands, JE2 3QA.