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Registered number: 12002019
Henry Dannell Private Clients Ltd
Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 12002019
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 25,924 30,782
25,924 30,782
CURRENT ASSETS
Debtors 5 177,443 53,968
Cash at bank and in hand 47,972 94,192
225,415 148,160
Creditors: Amounts Falling Due Within One Year 6 (93,757 ) (50,620 )
NET CURRENT ASSETS (LIABILITIES) 131,658 97,540
TOTAL ASSETS LESS CURRENT LIABILITIES 157,582 128,322
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,481 ) (7,695 )
NET ASSETS 151,101 120,627
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 151,001 120,527
SHAREHOLDERS' FUNDS 151,101 120,627
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
K A Kemal
Director
22 January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Henry Dannell Private Clients Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12002019 . The registered office is First Floor Tabard Works, 6-12 Tabard Street, London, SE1 4JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% on cost
2.4. Leasing and Hire Purchase Contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 13)
15 13
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 May 2023 63,971
Additions 7,871
As at 30 April 2024 71,842
Depreciation
As at 1 May 2023 33,189
Provided during the period 12,729
As at 30 April 2024 45,918
Net Book Value
As at 30 April 2024 25,924
As at 1 May 2023 30,782
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 22,975 31,169
Amounts owed by participating interests 118,458 -
Other debtors 31,065 22,799
172,498 53,968
Due after more than one year
Other debtors 4,945 -
177,443 53,968
For details of the 'Amounts owed by participating interests', see note 11.
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 13,557 3,600
Other loans 20,430 -
Other creditors 32,028 25,249
Taxation and social security 27,742 21,771
93,757 50,620
7. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 May 2023 7,695 7,695
Utilised (1,214 ) (1,214)
Balance at 30 April 2024 6,481 6,481
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 49,500 -
Later than one year and not later than five years 10,389 192,106
59,889 192,106
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Kemal Kemal 371 14,281 - - 14,652
The above loan is unsecured and repayable on demand.  During the year, interest was charged at 2.25% and amounted to £168.
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11. Related Party Transactions
During the year, the company made payments on behalf of QDEX AI Limited, a company under common control.  It also charged management fees amounting to £69,726.  As at the balance sheet date QDEX AI Limited owed Henry Dannell Private Clients Ltd £118,458.  This loan is interest free and repayable upon demand.
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