Registration number:
Himilo Training Centre Ltd
for the Year Ended 31 March 2024
Pages for filing with Registrar
Himilo Training Centre Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
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 |
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Registered number |
09027750 |
Accountants |
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Himilo Training Centre Ltd
(Registration number: 09027750)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Tangible assets |
8,411 |
15,279 |
|
Current assets |
|||
Debtors |
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 |
(61,766) |
(58,865) |
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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 |
(17,720) |
(27,496) |
|
Provisions for liabilities |
(2,100) |
(3,500) |
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Net assets |
337,449 |
257,031 |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Other reserves |
60,000 |
60,000 |
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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:
• |
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• |
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
R C Lawrence
Director
Himilo Training Centre Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024
Statutory information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Himilo Training Centre Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
Taxation |
Deferred tax
Deferred tax assets and liabilities
2024 |
Liability |
Fixed asset timing differences |
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|
2023 |
Liability |
Fixed asset timing differences |
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Tangible fixed assets |
Computer equipment |
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Cost |
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At 1 April 2023 |
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Additions |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Himilo Training Centre Ltd
Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)
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)
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 |
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Due after one year |
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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.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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)
Parent and ultimate parent undertaking |
The company's immediate parent is
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.