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REGISTERED NUMBER: 09835115 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1ST NOVEMBER 2022 TO 31ST MARCH 2024

FOR

HNA VEHICLES LTD

HNA VEHICLES LTD (REGISTERED NUMBER: 09835115)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1st November 2022 to 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HNA VEHICLES LTD

COMPANY INFORMATION
for the Period 1st November 2022 to 31st March 2024







DIRECTORS: Mr M B Cohen
Mrs L Cohen





REGISTERED OFFICE: Plot 0 James Nasmyth Way
Eccles
Manchester
Lancashire
M30 0SF





REGISTERED NUMBER: 09835115 (England and Wales)






HNA VEHICLES LTD (REGISTERED NUMBER: 09835115)

BALANCE SHEET
31st March 2024

2024 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 199,469 164,405
Investment property 5 306,100 -
505,569 164,405

CURRENT ASSETS
Debtors 6 119,199 2,024
Cash at bank 128,620 680,190
247,819 682,214
CREDITORS
Amounts falling due within one year 7 (236,724 ) (303,013 )
NET CURRENT ASSETS 11,095 379,201
TOTAL ASSETS LESS CURRENT
LIABILITIES

516,664

543,606

CREDITORS
Amounts falling due after more than one
year

8

(29,859

)

(68,754

)

PROVISIONS FOR LIABILITIES (34,206 ) (34,472 )
NET ASSETS 452,599 440,380

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 452,499 440,280
SHAREHOLDERS' FUNDS 452,599 440,380

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st 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.

HNA VEHICLES LTD (REGISTERED NUMBER: 09835115)

BALANCE SHEET - continued
31st March 2024


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 17th October 2024 and were signed on its behalf by:





Mr M B Cohen - Director


HNA VEHICLES LTD (REGISTERED NUMBER: 09835115)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1st November 2022 to 31st March 2024


1. STATUTORY INFORMATION

HNA Vehicles Limited is a private company, limited by shares, registered in England and Wales, registration number 09835115. The registered address is 100 Barbirolli Square, Manchester, M2 3BD. The principal place of business is James Nasmyth Way, Eccles, M30 0SF.

2. ACCOUNTING POLICIES

Going concern
The concept of going concern is an underlying assumption in the production of financial statements. As there are considerable net liabilities there is a question mark over going concern. Although there is no formal
agreement in place the directors has indicated they will continue to provide financial support to the company
for at least the next 12 months.

Turnover
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of food, drink and admission charges, which are recognised at the point of which the goods or services are provided, rental income which is recognised on a straight-line basis over the lease term and machine income, where net takings are recognised as earned.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Motor Vehicles-10% Reducing Balance
Plant & Machinery-25% Reducing Balance
Office Equipment-25% Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period 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.


HNA VEHICLES LTD (REGISTERED NUMBER: 09835115)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1st November 2022 to 31st 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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st November 2022 - 218,080 - 37,512 255,592
Additions 27,917 20,631 44,857 - 93,405
At 31st March 2024 27,917 238,711 44,857 37,512 348,997
DEPRECIATION
At 1st November 2022 - 85,816 - 5,371 91,187
Charge for period 558 49,085 3,727 4,971 58,341
At 31st March 2024 558 134,901 3,727 10,342 149,528
NET BOOK VALUE
At 31st March 2024 27,359 103,810 41,130 27,170 199,469
At 31st October 2022 - 132,264 - 32,141 164,405

HNA VEHICLES LTD (REGISTERED NUMBER: 09835115)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1st November 2022 to 31st March 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 306,100
At 31st March 2024 306,100
NET BOOK VALUE
At 31st March 2024 306,100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 47,258 24,634
Other debtors 71,941 (22,610 )
119,199 2,024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 31,233 25,288
Hire purchase contracts (see note 9) - 2,107
Trade creditors 23,467 14,524
Taxation and social security 58,544 134,675
Other creditors 123,480 126,419
236,724 303,013

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 29,859 68,754

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2022
£    £   
Net obligations repayable:
Within one year - 2,107

Non-cancellable operating leases
2024 2022
£    £   
Within one year 3,493 5,988
Between one and five years - 3,493
3,493 9,481

HNA VEHICLES LTD (REGISTERED NUMBER: 09835115)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1st November 2022 to 31st March 2024


10. SECURED DEBTS

A negative pledge, fixed and floating charge was taken on 27th January 2017 in respect of AIB Group (UK) PLC.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2022
value: £    £   
100 Ordinary £1.00 100 100

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed to director £16,611 (2021 - £2,452). This balance relates to an interest free loan account.

13. RELATED PARTY DISCLOSURES

Included in other creditors are loans owed to companies under common control, amounting to: £ 84,866 (2022: £ 105,587)
Included in other debtors are loans due from companies under common control, amounting to: £ 17,312 (2022: £ NIL)