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COMPANY REGISTRATION NUMBER: 09433922
H M COMMERCIAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 February 2024
H M COMMERCIAL LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
H M COMMERCIAL LIMITED
STATEMENT OF FINANCIAL POSITION
29 February 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
2,048,819
1,145,733
CURRENT ASSETS
Debtors
5
2,260
Cash at bank and in hand
2,895
2,214
-------
-------
5,155
2,214
CREDITORS: amounts falling due within one year
6
( 1,185,327)
( 795,985)
------------
---------
NET CURRENT LIABILITIES
( 1,180,172)
( 793,771)
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
868,647
351,962
CREDITORS: amounts falling due after more than one year
7
( 490,897)
( 319,521)
---------
---------
NET ASSETS
377,750
32,441
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
377,650
32,341
---------
--------
SHAREHOLDER FUNDS
377,750
32,441
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
H M COMMERCIAL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 18 November 2024 , and are signed on behalf of the board by:
H S Manton
Director
Company registration number: 09433922
H M COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 FEBRUARY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 28 Headingley Lane, Leeds, LS6 2AS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of rents received.
Tangible assets
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Other tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
15% reducing balance
Financial instruments
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 and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. TANGIBLE ASSETS
Investment property
Fixtures and fittings
Total
£
£
£
Cost or valuation
At 1 March 2023
1,141,240
10,534
1,151,774
Additions
561,337
561,337
Revaluations
342,423
342,423
------------
--------
------------
At 29 February 2024
2,045,000
10,534
2,055,534
------------
--------
------------
Depreciation
At 1 March 2023
6,041
6,041
Charge for the year
674
674
------------
--------
------------
At 29 February 2024
6,715
6,715
------------
--------
------------
Carrying amount
At 29 February 2024
2,045,000
3,819
2,048,819
------------
--------
------------
At 28 February 2023
1,141,240
4,493
1,145,733
------------
--------
------------
5. DEBTORS
2024
2023
£
£
Trade debtors
2,260
-------
----
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
67,654
29,379
Trade creditors
500
Social security and other taxes
869
4,152
Amounts due to related companies
917,314
427,941
Other creditors
195,645
329,028
Other creditors
3,845
4,985
------------
---------
1,185,327
795,985
------------
---------
7. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
490,897
319,521
---------
---------