Company No:
Contents
2024 | 2023 | |||
£ | £ | |||
Restated - note 2 | ||||
Net current assets | 0 | 0 | ||
Total assets less current liabilities | 0 | 0 | ||
Net assets |
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Reserves | ||||
Total reserves |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The HR Dept Trust Company Limited (registered number:
K J Sadler
Director |
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.
The HR Dept Trust Company Limited (the Company) is a private company, limited by guarantee, 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 3 Brook Park Office, Emersons Green, Bristol, BS16 7FL, 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 £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Investment in shares was overstated by £2,700,000, and Other creditors was overstated by £1,380,000 and Other reserves was overstated by £1,320,000 in the prior year.
The company acts as a nominee for a third party and holds any assets in Trust for the members. The prior years accounts included the value of the assets being held in Trust which was incorrect and the statement of financial position has now been restated to £Nil to reflect the correct position.
As previously reported | Adjustment | As restated | ||||
Year ended 31 July 2023 | £ | £ | £ | |||
Investment in Shares | 2,700,000 | (2,700,000) | 0 | |||
Other creditors | (1,380,000) | 1,380,000 | 0 | |||
Other reserves | (1,320,000) | 1,320,000 | 0 |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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The members of the The HR Dept Trust Company Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.