Silverfin false false 31/05/2024 01/06/2023 31/05/2024 H Brown 23/05/2006 A Leigh 06/05/2015 13 January 2025 The principal activity of the company continued to be the provision of headhunting services. 05825168 2024-05-31 05825168 bus:Director1 2024-05-31 05825168 bus:Director2 2024-05-31 05825168 2023-05-31 05825168 core:CurrentFinancialInstruments 2024-05-31 05825168 core:CurrentFinancialInstruments 2023-05-31 05825168 core:ShareCapital 2024-05-31 05825168 core:ShareCapital 2023-05-31 05825168 core:RetainedEarningsAccumulatedLosses 2024-05-31 05825168 core:RetainedEarningsAccumulatedLosses 2023-05-31 05825168 core:Vehicles 2023-05-31 05825168 core:FurnitureFittings 2023-05-31 05825168 core:ComputerEquipment 2023-05-31 05825168 core:Vehicles 2024-05-31 05825168 core:FurnitureFittings 2024-05-31 05825168 core:ComputerEquipment 2024-05-31 05825168 1 2024-05-31 05825168 1 2023-05-31 05825168 2023-06-01 2024-05-31 05825168 bus:FilletedAccounts 2023-06-01 2024-05-31 05825168 bus:SmallEntities 2023-06-01 2024-05-31 05825168 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05825168 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05825168 bus:Director1 2023-06-01 2024-05-31 05825168 bus:Director2 2023-06-01 2024-05-31 05825168 core:Vehicles 2023-06-01 2024-05-31 05825168 core:FurnitureFittings 2023-06-01 2024-05-31 05825168 core:ComputerEquipment 2023-06-01 2024-05-31 05825168 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Company No: 05825168 (England and Wales)

HBAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

HBAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

HBAL LIMITED

BALANCE SHEET

As at 31 May 2024
HBAL LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 26,189 33,704
26,189 33,704
Current assets
Debtors 4 21,000 134,182
Investments 5 406,089 550,000
Cash at bank and in hand 88,294 117,171
515,383 801,353
Creditors: amounts falling due within one year 6 ( 13,282) ( 78,041)
Net current assets 502,101 723,312
Total assets less current liabilities 528,290 757,016
Net assets 528,290 757,016
Capital and reserves
Called-up share capital 2 2
Profit and loss account 528,288 757,014
Total shareholders' funds 528,290 757,016

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

Directors' responsibilities:

The financial statements of HBAL Limited (registered number: 05825168) were approved and authorised for issue by the Board of Directors on 13 January 2025. They were signed on its behalf by:

H Brown
Director
HBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
HBAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

HBAL Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Leman Street, London, E1W 9US, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT where applicable.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 June 2023 36,311 25,457 8,318 70,086
Additions 0 0 1,123 1,123
At 31 May 2024 36,311 25,457 9,440 71,208
Accumulated depreciation
At 01 June 2023 9,171 22,814 4,397 36,382
Charge for the financial year 6,785 661 1,191 8,637
At 31 May 2024 15,956 23,475 5,588 45,019
Net book value
At 31 May 2024 20,355 1,982 3,852 26,189
At 31 May 2023 27,140 2,643 3,921 33,704

4. Debtors

2024 2023
£ £
Trade debtors 21,000 123,000
Other debtors 0 11,182
21,000 134,182

5. Current asset investments

2024 2023
£ £
Other investments 406,089 550,000

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 1,284 1,852
Taxation and social security 6,598 71,227
Other creditors 5,400 4,962
13,282 78,041

7. Related party transactions

At the year end the company owed £500 (2023 - £62) to the directors of the company in respect of an interest free loan which is repayable on demand.