Registered number
14002053
H & M Retail Limited
Filleted Accounts
for the year ended 31 March 2024
H & M Retail Limited
Registered number: 14002053
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 81,003 85,503
Tangible assets 4 25,849 28,721
106,852 114,224
Current assets
Stocks 5,141 4,859
Cash at bank and in hand 4,810 5,948
9,951 10,807
Creditors: amounts falling due within one year 5 (110,402) (135,543)
Net current liabilities (100,451) (124,736)
Net assets/(liabilities) 6,401 (10,512)
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,301 (10,612)
Shareholders' funds 6,401 (10,512)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Hiteshbhai Patel
Director
Approved by the board on 25 October 2024
H & M Retail Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts.Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balances
Fixtures, fittings, tools and equipment 20% reducing balances
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 90,003
At 31 March 2024 90,003
Amortisation
At 1 April 2023 4,500
Provided during the year 4,500
At 31 March 2024 9,000
Net book value
At 31 March 2024 81,003
At 31 March 2023 85,503
Goodwill is being written off in equal annual instalments over its lease life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 31,912
At 31 March 2024 31,912
Depreciation
At 1 April 2023 3,191
Charge for the year 2,872
At 31 March 2024 6,063
Net book value
At 31 March 2024 25,849
At 31 March 2023 28,721
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 889 -
Wages control account 2,148 -
NEST Pension 68 96
Taxation and social security costs 330 80
Other creditors 106,967 135,367
110,402 135,543
6 Other information
H & M Retail Limited is a private company limited by shares and incorporated in England. Its registered office is:
29 Beacon Grove High Street
Carshalton
Surrey
SM5 3BA
H & M Retail Limited 14002053 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Hiteshbhai Patel No description of principal activity 14002053 2022-03-25 2023-03-31 14002053 core:WithinOneYear 2023-03-31 14002053 core:ShareCapital 2023-03-31 14002053 core:RetainedEarningsAccumulatedLosses 2023-03-31 14002053 2023-04-01 2024-03-31 14002053 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14002053 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 14002053 bus:Director40 2023-04-01 2024-03-31 14002053 1 2023-04-01 2024-03-31 14002053 2 2023-04-01 2024-03-31 14002053 core:Goodwill 2023-04-01 2024-03-31 14002053 core:PlantMachinery 2023-04-01 2024-03-31 14002053 countries:England 2023-04-01 2024-03-31 14002053 bus:FRS102 2023-04-01 2024-03-31 14002053 bus:FilletedAccounts 2023-04-01 2024-03-31 14002053 2024-03-31 14002053 core:WithinOneYear 2024-03-31 14002053 core:ShareCapital 2024-03-31 14002053 core:RetainedEarningsAccumulatedLosses 2024-03-31 14002053 core:Goodwill 2024-03-31 14002053 core:PlantMachinery 2024-03-31 14002053 2023-03-31 14002053 core:Goodwill 2023-03-31 14002053 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure