HC 1327 Limited 13197601 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is other letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 13197601 2023-05-01 2024-04-30 13197601 2024-04-30 13197601 core:RetainedEarningsAccumulatedLosses 2024-04-30 13197601 core:ShareCapital 2024-04-30 13197601 core:CurrentFinancialInstruments 2024-04-30 13197601 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 13197601 core:Non-currentFinancialInstruments 2024-04-30 13197601 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 13197601 core:FurnitureFittingsToolsEquipment 2024-04-30 13197601 core:LandBuildings 2024-04-30 13197601 bus:SmallEntities 2023-05-01 2024-04-30 13197601 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13197601 bus:FilletedAccounts 2023-05-01 2024-04-30 13197601 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 13197601 bus:RegisteredOffice 2023-05-01 2024-04-30 13197601 bus:Director1 2023-05-01 2024-04-30 13197601 bus:Director2 2023-05-01 2024-04-30 13197601 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13197601 core:FurnitureFittings 2023-05-01 2024-04-30 13197601 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 13197601 core:LandBuildings 2023-05-01 2024-04-30 13197601 1 2023-05-01 2024-04-30 13197601 countries:EnglandWales 2023-05-01 2024-04-30 13197601 2023-04-30 13197601 core:RetainedEarningsAccumulatedLosses 2023-04-30 13197601 core:ShareCapital 2023-04-30 13197601 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 13197601 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 13197601 core:FurnitureFittingsToolsEquipment 2023-04-30 13197601 core:LandBuildings 2023-04-30 13197601 2022-05-01 2023-04-30 13197601 2023-04-30 13197601 core:CurrentFinancialInstruments 2023-04-30 13197601 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 13197601 core:Non-currentFinancialInstruments 2023-04-30 13197601 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 13197601 core:FurnitureFittingsToolsEquipment 2023-04-30 13197601 core:LandBuildings 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 13197601

Prepared for the registrar

HC 1327 Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

HC 1327 Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

HC 1327 Limited

Company Information

Directors

Kathryn E Betts

Kevin E Betts

Registered office

5 Deansway
Worcester
Worcestershire
WR1 2JG

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

HC 1327 Limited

(Registration number: 13197601)
Balance Sheet as at 30 April 2024

Note

2024
 £

2023
 £

Fixed assets

 

Tangible assets

4

1,417,150

789,611

Current assets

 

Debtors

5

8,956

4,938

Cash at bank and in hand

 

8,635

4,979

 

17,591

9,917

Creditors: Amounts falling due within one year

6

(1,213,802)

(546,954)

Net current liabilities

 

(1,196,211)

(537,037)

Total assets less current liabilities

 

220,939

252,574

Creditors: Amounts falling due after more than one year

6

(315,007)

(317,059)

Net liabilities

 

(94,068)

(64,485)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(94,168)

(64,585)

Total equity

 

(94,068)

(64,485)

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 


Kevin E Betts
Director

 

HC 1327 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 Deansway
Worcester
Worcestershire
WR1 2JG

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements and estimation uncertainty

These financial statements do not contain any significant judgements or estimation uncertainty.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when, the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

1% Straight line

Fixtures and fittings

20% Straight line

 

HC 1327 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

HC 1327 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Financial instruments (continued)

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

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

 

HC 1327 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

 

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 May 2023

750,832

55,324

806,156

Additions

648,532

-

648,532

At 30 April 2024

1,399,364

55,324

1,454,688

Depreciation

At 1 May 2023

5,860

10,685

16,545

Charge for the year

9,929

11,064

20,993

At 30 April 2024

15,789

21,749

37,538

Carrying amount

At 30 April 2024

1,383,575

33,575

1,417,150

At 30 April 2023

744,972

44,639

789,611

 

5

Debtors

2024
£

2023
£

Prepayments

8,956

4,938

 

6

Creditors

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

516,650

516,650

Trade creditors

 

7,569

5,856

Amounts due to related parties

680,000

-

Other creditors

 

100

20,200

Accrued expenses

 

9,483

4,248

 

1,213,802

546,954

Due after one year

 

Loans and borrowings

7

315,007

317,059

 

HC 1327 Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

 

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Director's loan

516,650

516,650

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

315,007

317,059

Bank borrowings

The bank borrowings are secured over the company property.

 

8

Parent and ultimate parent undertaking

The ultimate controlling party is Kevin Betts, a director of the company.

 

9

Disclosure under Section 444(5B) CA 2006

As permitted by Section 444 CA 2006, these accounts do not contain a copy of the company’s Profit and Loss account or a copy of the Directors’ Report. These accounts are unaudited.