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Company No: 10178719 (England and Wales)

HOUSE OF HOT YOGA LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

HOUSE OF HOT YOGA LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

HOUSE OF HOT YOGA LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2024
HOUSE OF HOT YOGA LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTORS Ms S Maracas
Mr Z Qureshi
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
BUSINESS ADDRESS 122 Pentonville Road
Islington
London
N1 9TT
COMPANY NUMBER 10178719 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
HOUSE OF HOT YOGA LIMITED

BALANCE SHEET

As at 31 May 2024
HOUSE OF HOT YOGA LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,320 4,909
4,320 4,909
Current assets
Debtors 4 13,158 25,661
Cash at bank and in hand 2,490 2,293
15,648 27,954
Creditors: amounts falling due within one year 5 ( 55,716) ( 46,635)
Net current liabilities (40,068) (18,681)
Total assets less current liabilities (35,748) (13,772)
Net liabilities ( 35,748) ( 13,772)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 35,848 ) ( 13,872 )
Total shareholders' deficit ( 35,748) ( 13,772)

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of House of Hot Yoga Limited (registered number: 10178719) were approved and authorised for issue by the Board of Directors on 14 November 2024. They were signed on its behalf by:

Ms S Maracas
Director
HOUSE OF HOT YOGA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
HOUSE OF HOT YOGA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

House of Hot Yoga Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is 122 Pentonville Road, Islington, London, N1 9TT.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the consumer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

3. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 01 June 2023 9,199 137 9,336
Additions 503 833 1,336
At 31 May 2024 9,702 970 10,672
Accumulated depreciation
At 01 June 2023 4,400 27 4,427
Charge for the financial year 1,865 60 1,925
At 31 May 2024 6,265 87 6,352
Net book value
At 31 May 2024 3,437 883 4,320
At 31 May 2023 4,799 110 4,909

4. Debtors

2024 2023
£ £
Amounts owed by directors 0 14,235
Prepayments and accrued income 1,852 120
Other debtors 11,306 11,306
13,158 25,661

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 2,160
Amounts owed to connected companies 5,334 0
Amounts owed to directors 4,208 0
Accruals 20,338 12,191
Other taxation and social security 3,993 9,363
Other creditors 21,843 22,921
55,716 46,635

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 55,000 55,000
between one and five years 220,000 220,000
after five years 64,117 119,117
339,117 394,117

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Directors (4,208) 14,235

During the year, £50,822 was advanced to the Directors and £69,265 was repaid.

The maximum overdrawn balances in the year was £14,235.

Loans to directors are repayable on demand and interest is charged at 2.25%.