IRIS Accounts Production v24.2.0.383 09551553 Board of Directors 1.4.23 31.3.24 31.3.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh095515532023-03-31095515532024-03-31095515532023-04-012024-03-31095515532022-03-31095515532022-04-012023-03-31095515532023-03-3109551553ns15:EnglandWales2023-04-012024-03-3109551553ns14:PoundSterling2023-04-012024-03-3109551553ns10:Director12023-04-012024-03-3109551553ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109551553ns10:SmallEntities2023-04-012024-03-3109551553ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109551553ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109551553ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109551553ns10:FullAccounts2023-04-012024-03-3109551553ns10:OrdinaryShareClass12023-04-012024-03-3109551553ns10:Director22023-04-012024-03-3109551553ns10:Director32023-04-012024-03-3109551553ns10:RegisteredOffice2023-04-012024-03-3109551553ns5:CurrentFinancialInstruments2024-03-3109551553ns5:CurrentFinancialInstruments2023-03-3109551553ns5:ShareCapital2024-03-3109551553ns5:ShareCapital2023-03-3109551553ns5:RetainedEarningsAccumulatedLosses2024-03-3109551553ns5:RetainedEarningsAccumulatedLosses2023-03-3109551553ns5:FurnitureFittings2023-04-012024-03-3109551553ns5:FurnitureFittings2023-03-3109551553ns5:FurnitureFittings2024-03-3109551553ns5:FurnitureFittings2023-03-3109551553ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3109551553ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3109551553ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 09551553 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

HMC Ventures Limited

HMC Ventures Limited (Registered number: 09551553)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HMC Ventures Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J H McArdle
M M McArdle
M H McArdle





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





REGISTERED NUMBER: 09551553 (England and Wales)





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

HMC Ventures Limited (Registered number: 09551553)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 590
Investment property 5 2,861,517 2,861,517
2,861,517 2,862,107

CURRENT ASSETS
Debtors 6 106,896 44,124
Cash at bank 14,722 386,898
121,618 431,022
CREDITORS
Amounts falling due within one year 7 2,568,821 2,944,447
NET CURRENT LIABILITIES (2,447,203 ) (2,513,425 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

414,314

348,682

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 414,313 348,681
SHAREHOLDERS' FUNDS 414,314 348,682

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.

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 Ventures Limited (Registered number: 09551553)

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

1. STATUTORY INFORMATION

HMC Ventures Limited 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 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.

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.

Related party exemption
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' Section 1A, not to disclose related party transactions with wholly owned subsidiaries within the group or those under normal commercial terms.

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

Income recognition
Turnover from the rental of property is recognised at the point of the service having been provided.

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 - 20% on cost

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

Investment property
Investment property is shown at fair value. Any aggregate surplus of deficit arising from the 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 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 Ventures Limited (Registered number: 09551553)

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 5,905
DEPRECIATION
At 1 April 2023 5,315
Charge for year 590
At 31 March 2024 5,905
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 590

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,861,517
NET BOOK VALUE
At 31 March 2024 2,861,517
At 31 March 2023 2,861,517

The directors have reviewed the valuation of the investment property as at 31 March 2024 and consider it to be reflective of the open market value.

HMC Ventures Limited (Registered number: 09551553)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,111 37,583
Amounts owed by group undertakings 57,963 -
Other debtors 4,431 -
Prepayments and accrued income 11,391 6,541
106,896 44,124

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,944
Amounts owed to group undertakings 2,507,733 2,922,596
Taxation and social security 26,237 6,015
Accruals and deferred income 34,851 13,892
2,568,821 2,944,447

8. CALLED UP SHARE CAPITAL

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

9. ULTIMATE PARENT COMPANY

The immediate parent company is HMC Group Ltd, a company registered in England and Wales, registered office address: 140 Coniscliffe Road, Darlington, Co. Durham, DL3 7RT.

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.