Registered number
10878292
H&M International Construction Ltd
Filleted Accounts
31 May 2024
H&M International Construction Ltd
Registered number: 10878292
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 23,847 28,138
Current assets
Stocks 81,500 59,000
Debtors 4 157,991 286,537
Cash at bank and in hand 351,602 148,785
591,093 494,322
Creditors: amounts falling due within one year 5 (402,964) (344,894)
Net current assets 188,129 149,428
Net assets 211,976 177,566
Capital and reserves
Called up share capital 100 100
Profit and loss account 211,876 177,466
Shareholders' funds 211,976 177,566
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mehmet Ali Elma
Director
Approved by the board on 4 December 2024
H&M International Construction Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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 over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 14
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 7,230 55,556 62,786
Additions 1,671 - 1,671
At 31 May 2024 8,901 55,556 64,457
Depreciation
At 1 June 2023 3,198 31,450 34,648
Charge for the year 1,140 4,822 5,962
At 31 May 2024 4,338 36,272 40,610
Net book value
At 31 May 2024 4,563 19,284 23,847
At 31 May 2023 4,032 24,106 28,138
4 Debtors 2024 2023
£ £
Trade debtors 157,991 268,460
Other debtors - 18,077
157,991 286,537
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,584 4,538
Trade creditors 102,057 79,776
Taxation and social security costs 45,411 25,499
Other creditors 246,912 235,081
402,964 344,894
6 Controlling party
Mr Muhammed Hasan Eskinoba and Mr Mehmet Ali Elma, a company directors control the company by virtue of holding 50% of the issued share capital each.
7 Other information
H&M International Construction Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4 Basement Stoke Newington High Street
London
N16 7PL
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