Company Registration No. 09897508 (England and Wales)
HM and Partners Limited
Annual report and unaudited financial statements
For the year ended 31 January 2024
Pages for filing with registrar
HM AND PARTNERS LIMITED
HM and Partners Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HM AND PARTNERS LIMITED
HM and Partners Limited
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,810
6,413
Current assets
Stocks
3,200,000
4,590,000
Debtors
4
24,013
30,152
Cash at bank and in hand
4,711
3,771
3,228,724
4,623,923
Creditors: amounts falling due within one year
5
(3,675,037)
(5,203,529)
Net current liabilities
(446,313)
(579,606)
Net liabilities
(441,503)
(573,193)
Capital and reserves
Called up share capital
6
500
500
Profit and loss reserves
(442,003)
(573,693)
Total equity
(441,503)
(573,193)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 21 November 2024 and are signed on its behalf by:
M N Shinkar
Director
Company registration number 09897508 (England and Wales)
HM AND PARTNERS LIMITED
HM and Partners Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
1.1
Accounting convention

The financial statements have been prepared under the historical cost convention, in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2
Going concern

The companytrue made a profit for the year of £131,690 (2023: £313,282) and at the year end had net current liabilities of £441,503 (2023: £573,193). The company is financed by a loan from a director. The directors are satisfied that they can continue to support the company in this manner until sufficient profits are realised to enable the business to meet its liabilities without the directors' support. Accordingly the directors consider it appropriate to prepare these accounts on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the support of the directors.

1.3
Other operating income

Other operating income represents amounts receivable for rent prior to the sale of the properties.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less estimated selling costs. Cost comprises direct costs in bringing the stocks to their present location and condition.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2023 - 2).

HM AND PARTNERS LIMITED
HM and Partners Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 and 31 January 2024
27,026
Depreciation and impairment
At 1 February 2023
20,613
Depreciation charged in the year
1,603
At 31 January 2024
22,216
Carrying amount
At 31 January 2024
4,810
At 31 January 2023
6,413
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
24,013
30,152
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
3,675,037
5,203,529
6
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A shares of £1 each
100
100
400 Ordinary B shares of £1 each
400
400
500
500
HM AND PARTNERS LIMITED
HM and Partners Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
7
Company information

HM & Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL and the principle place of business is 8932 Prince Sultan Street, PO Box 876, Jeddah, 21241, Saudi Arabia.

 

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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