Company registration number 13195894 (England and Wales)
40HFL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
40HFL LIMITED
COMPANY INFORMATION
Director
Mr S R White
Company number
13195894
Registered office
40 Houndsfield Lane
Shirley
Solihull
West Midlands
B90 1PR
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
40HFL LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
40HFL LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 40HFL LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 40HFL Limited for the year ended 30 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of 40HFL Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 40HFL Limited and state those matters that we have agreed to state to the board of directors of 40HFL Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 40HFL Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that 40HFL Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 40HFL Limited. You consider that 40HFL Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 40HFL Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
7 January 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
40HFL LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
813,944
286,600
Investments
4
50
50
813,994
286,650
Current assets
Debtors
5
167,254
198,910
Cash at bank and in hand
25,507
140,823
192,761
339,733
Creditors: amounts falling due within one year
6
(19,440)
(50,409)
Net current assets
173,321
289,324
Total assets less current liabilities
987,315
575,974
Creditors: amounts falling due after more than one year
7
(410,601)
(164,683)
Net assets
576,714
411,291
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
576,614
411,191
Total equity
576,714
411,291

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

40HFL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 7 January 2025 and are signed on its behalf by:
Mr S R White
Director
Company registration number 13195894 (England and Wales)
40HFL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

40HFL Limited is a private company limited by shares incorporated in England and Wales. The registered office is 40 Houndsfield Lane, Shirley, Solihull, West Midlands, England, B90 1PR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
40HFL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Investment property
2024
£
Fair value
At 1 May 2023
286,600
Additions
527,344
At 30 April 2024
813,944

The directors have assessed the fair value of the investment property and the year end and consider that there has been no significant change to the value as disclosed in the financial statements.

4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
50
50
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
167,254
198,910
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
132
-
0
Amounts owed to group undertakings and undertakings in which the company has a participating interest
17,438
-
0
Other creditors
1,870
50,409
19,440
50,409
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
410,601
164,683
40HFL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
8
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
410,601
164,683
Bank loans are secured by way of a fixed charge over the investment property.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
59
59
59
59
Ordinary B shares of £1 each
39
39
39
39
Ordinary C shares of £1 each
1
1
1
1
Ordinary D shares of £1 each
1
1
1
1
100
100
100
100
10
Ultimate controlling party

Mr S R White is the ultimate controlling party.

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