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Registered number: 09328617










HIRWAUN ENTERPRISE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
HIRWAUN ENTERPRISE LIMITED
REGISTERED NUMBER: 09328617

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investment in subsidiary
 5 
708,387
708,387

  
708,387
708,387

Current assets
  

Debtors
  
1,200,000
1,200,000

  
1,200,000
1,200,000

Creditors: amounts falling due within one year
 6 
(725,973)
(724,893)

Net current assets
  
 
 
474,027
 
 
475,107

Total assets less current liabilities
  
1,182,414
1,183,494

Creditors: amounts falling due after more than one year
  
(1,200,000)
(1,200,000)

  

Net liabilities
  
(17,586)
(16,506)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(17,686)
(16,606)

  
(17,586)
(16,506)


Page 1

 
HIRWAUN ENTERPRISE LIMITED
REGISTERED NUMBER: 09328617
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J N O Williams
Director

Date: 5 February 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
HIRWAUN ENTERPRISE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Hirwaun Enterprise Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number, registered office and principal place of business address can be
found on the Company Information page.
The presentation currency of the financial statements is the (£) sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HIRWAUN ENTERPRISE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.7

Fixed asset investments

Investments in the shares of subsidiary companies are stated at cost, less any provision for permanent diminution in value.

  
2.8

Going Concern

The company has net current liabilities in relation to a loan which is repayable on demand. The directors have obtained assurances from the lender that the loan will not be called for repayment until such time that the company has the required funds to repay the loan. As such, the directors are satisifed that the financial statements should be prepared on a going concern basis.

Page 4

 
HIRWAUN ENTERPRISE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


3.


Significant Judgement and Estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors which are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision only effects that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The following are the critical judgements that the directors have made in the process of applying the company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the income statement.
Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only disclosed if an inflow of economic benefits is probable.


4.


Employees

The average number of employees during the year was NIL (2022 : Nil).


5.


Investment in subsidiary





Investments

£





At 1 November 2023
708,387






Net book value



At 31 October 2024
708,387



At 31 October 2023
708,387

Page 5

 
HIRWAUN ENTERPRISE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
708,287
708,287

Trade creditors
17,686
16,606

725,973
724,893



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
1,200,000
1,200,000

1,200,000
1,200,000



8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
708,287
708,287


708,287
708,287



Amounts falling due after more than 5 years

Other loans
1,200,000
1,200,000

1,200,000
1,200,000

1,908,287
1,908,287


 
Page 6