Registered number
05081067
H&H Dynamo Limited
Unaudited Filleted Accounts
31 March 2024
H&H Dynamo Limited
Registered number: 05081067
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 260,522 267,887
Current assets
Debtors 4 53,145 50,440
Cash at bank and in hand 285 1,364
53,430 51,804
Creditors: amounts falling due within one year 5 (92,154) (84,372)
Net current liabilities (38,724) (32,568)
Total assets less current liabilities 221,798 235,319
Creditors: amounts falling due after more than one year 6 (355,885) (357,154)
Net liabilities (134,087) (121,835)
Capital and reserves
Called up share capital 100 100
Profit and loss account (134,187) (121,935)
Shareholder's funds (134,087) (121,835)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J.M. Hewitt
Director
Approved by the board on 27 December 2024
H&H Dynamo Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Going concern
The company has a deficit on its profit and loss reserve. However it also has positive cashflows and ongoing income streams. The director has undertaken to support the company for a period of not less than twelve months from the date of the approval of these accounts. The going concern accounting convention has therefore been adopted.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 385,727
At 31 March 2024 385,727
Depreciation
At 1 April 2023 117,840
Charge for the year 7,365
At 31 March 2024 125,205
Net book value
At 31 March 2024 260,522
At 31 March 2023 267,887
4 Debtors 2024 2023
£ £
Deferred tax asset 6,195 5,390
Other debtors 46,950 45,050
53,145 50,440
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,300 1,300
Taxation and social security costs 82,392 75,086
Other creditors 8,462 7,986
92,154 84,372
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 355,885 357,154
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 354,050 354,050
The bank loan is secured by a charge over the industrial units owned by the company.
8 Related party transactions
During the year, the company continued to extend a loan to Myriad Creative Limited, a company under common ownership and control. The loan is interest free and has no fixed date for repayment. At the reporting date, the amount outstanding was £46,950 (2023 - £45,050).
9 Controlling party
The company is controlled by J.M. Hewitt, who is its director and shareholder.
10 Other information
H&H Dynamo Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6 Creative Court
Clovelly Road Ind Estate
Bideford
Devon
EX39 3HN
H&H Dynamo Limited 05081067 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 J.M. Hewitt No description of principal activity 05081067 2022-04-01 2023-03-31 05081067 core:WithinOneYear 2023-03-31 05081067 core:AfterOneYear 2023-03-31 05081067 core:ShareCapital 2023-03-31 05081067 core:RetainedEarningsAccumulatedLosses 2023-03-31 05081067 2023-04-01 2024-03-31 05081067 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05081067 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05081067 bus:Director40 2023-04-01 2024-03-31 05081067 1 2023-04-01 2024-03-31 05081067 2 2023-04-01 2024-03-31 05081067 core:LandBuildings 2023-04-01 2024-03-31 05081067 countries:England 2023-04-01 2024-03-31 05081067 bus:FRS102 2023-04-01 2024-03-31 05081067 bus:FilletedAccounts 2023-04-01 2024-03-31 05081067 2024-03-31 05081067 core:WithinOneYear 2024-03-31 05081067 core:AfterOneYear 2024-03-31 05081067 core:ShareCapital 2024-03-31 05081067 core:RetainedEarningsAccumulatedLosses 2024-03-31 05081067 core:LandBuildings 2024-03-31 05081067 2023-03-31 05081067 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure