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Registration number: 09027750

Himilo Training Centre Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

Pages for filing with Registrar

 

Himilo Training Centre Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Himilo Training Centre Ltd

Company Information

Directors

M A Chafekar

M P Harris

R C Lawrence

N Rumball

Company secretary

A O Mohamed

Registered office

Unit 1 Ashley Court
Ashley Road
Bristol
BS6 5NW

Registered number

09027750

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Himilo Training Centre Ltd

(Registration number: 09027750)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,411

15,279

Current assets

 

Debtors

6

356,033

193,682

Cash at bank and in hand

 

54,591

137,931

 

410,624

331,613

Creditors: Amounts falling due within one year

7

(61,766)

(58,865)

Net current assets

 

348,858

272,748

Total assets less current liabilities

 

357,269

288,027

Creditors: Amounts falling due after more than one year

7

(17,720)

(27,496)

Provisions for liabilities

(2,100)

(3,500)

Net assets

 

337,449

257,031

Capital and reserves

 

Called up share capital

1

1

Other reserves

60,000

60,000

Profit and loss account

277,448

197,030

Total equity

 

337,449

257,031

 

Himilo Training Centre Ltd

(Registration number: 09027750)
Balance Sheet as at 31 March 2024 (continued)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised for issue by the Board on 2 December 2024 and signed on its behalf by:





 

R C Lawrence

Director

 

Himilo Training Centre Ltd

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

1

Statutory information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1 Ashley Court
Ashley Road
Bristol
BS6 5NW
United Kingdom

2

Accounting policies

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

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

Going concern

The company’s financial statements have been prepared on a going concern basis. The directors have considered a period of twelve months from the date of approval of the financial statements and have considered the uncertainty relating to factors such as the economic outlook and believe that the company is able to meet liabilities as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

 

Himilo Training Centre Ltd

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

2

Accounting policies (continued)

Government grants

Government grants are recognised, using the accrual model, at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received. Government grants include central and local government, as well as other governmental bodies.

Other grants

Income from other donations and grants is included in income as soon as legal entitlement arises, their amount is known with sufficient reliability and their economic benefit is probable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.


Deferred tax
Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Office equipment

33% on cost

Cash and cash equivalents

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

 

Himilo Training Centre Ltd

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

2

Accounting policies (continued)

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as an expense in the period in which the employees' services are received.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 26 (2023 - 25).

 

Himilo Training Centre Ltd

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

4

Taxation

Deferred tax

Deferred tax assets and liabilities

2024

Liability
£

Fixed asset timing differences

2,100

2,100

2023

Liability
£

Fixed asset timing differences

3,500

3,500

5

Tangible fixed assets

Computer equipment
£

Cost

At 1 April 2023

46,755

Additions

4,097

At 31 March 2024

50,852

Depreciation

At 1 April 2023

31,476

Charge for the year

10,965

At 31 March 2024

42,441

Carrying amount

At 31 March 2024

8,411

At 31 March 2023

15,279

 

Himilo Training Centre Ltd

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

6

Debtors: amounts falling due within one year

2024
£

2023
£

Trade debtors

44,131

23,603

Amounts owed by group undertakings

308,558

168,909

Other debtors

388

500

Prepayments and accrued income

2,956

670

356,033

193,682

 

Himilo Training Centre Ltd

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

7

Creditors

2024
£

2023
£

Bank loans and overdrafts

9,721

9,772

Trade creditors

8,172

2,000

Corporation tax

28,571

30,571

Social security and other taxes

10,599

10,994

Accruals and deferred income

4,703

5,528

61,766

58,865

Due after one year

Loans and borrowings

17,720

27,496

The bank loan is the government backed Business Bounce Back Loan, an unsecured loan with a flexible repayment term of up to 10 years, charged at 2.5% interest.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

9

Related party transactions

Other transactions with directors

During the year, the directors were paid £24,400 (2023: £24,600) in respect of remuneration.

 

Himilo Training Centre Ltd

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

10

Parent and ultimate parent undertaking

The company's immediate parent is Ashley Community & Housing Ltd, incorporated in England.

Himilo Training Centre Ltd provides training and support services on behalf of its parent company, Ashley Community & Housing Ltd, registered at 2nd Floor Eden House, Eastgate Office Park, Bristol, England, BS5 6XY.

During the year the Ashley Community & Housing Ltd received monies on behalf of Himilo Training Centre Ltd of £164,857 (2023: £124,367) and made payments on behalf of Himilo Training Centre Ltd of £20,362 (2023: £14,490) for pension and accounting services. No social housing monies are transferred from Ashley Community & Housing Ltd to Himilo Training Limited, which is funded by contracts and a bounce back loan. At the year end Ashley Community & Housing Ltd owed £308,558 (2023: £168,909) to Himilo Training Centre Ltd.