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Registration number: 12605099

Hargeo Investments Limited

Annual Report and Unaudited Financial Statements (Filleted)

for the Year Ended 31 May 2024

 

Hargeo Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Hargeo Investments Limited

Company Information

Director

Mr A Brady

Registered office

15 Olympic Court
Boardmans Way
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU

Accountants

Horne Brooke Shenton
15 Olympic Court Boardmans Way,
Whitehills Business Park
Blackpool
FY4 5GU

 

Hargeo Investments Limited

(Registration number: 12605099)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed Assets

 

Investments

4

3,145,632

3,068,749

Current assets

 

Cash at bank and in hand

 

51,962

43,745

Creditors: Amounts falling due within one year

5

(2,728,980)

(2,880,430)

Net current liabilities

 

(2,677,018)

(2,836,685)

Total assets less current liabilities

 

468,614

232,064

Provisions for liabilities

(46,695)

(10,884)

Net assets

 

421,919

221,180

Capital and Reserves

 

Called up share capital

6

100

100

Retained Earnings

421,819

221,080

Shareholders' funds

 

421,919

221,180

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 February 2025
 

.........................................
Mr A Brady
Director

 

Hargeo Investments Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
15 Olympic Court
Boardmans Way
Whitehills Business Park
Blackpool
Lancashire
FY4 5GU
United Kingdom

These financial statements were authorised for issue by the director on 27 February 2025.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Interest Income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts stimated furutre cash receipts thorugh the expected life of the finanical asset's net carrying amount on initial recognition.

Dividend Income

Dividend income from investments is recognised when the shareholders' rights to receive payments have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Comission Income

Comission income from investing activities is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably.

 

Hargeo Investments Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 May 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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 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 subsequently measured at amortised cost using the effective interest method.

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.

 

Hargeo Investments Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 May 2024

Financial instruments


The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its Financial Instruments.
 
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts pesented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis to realise the aset and settle the liability simultaneously.

Investments

Investments in non-derivative financial instruments that are publicly traded are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment. In order to determine "fair value" the company have used quoted market price of the financial instruments.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Hargeo Investments Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 May 2024

4

Fixed asset investments

Investments other than loans
£

Total
£

Non-current financial assets

Cost or valuation

At 1 June 2023

3,068,749

3,068,749

Fair value adjustments

166,487

166,487

Additions

147,244

147,244

Disposals

(236,848)

(236,848)

At 31 May 2024

3,145,632

3,145,632

Impairment

Carrying amount

At 31 May 2024

3,145,632

3,145,632

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,930

-

Accruals and deferred income

7,540

4,920

Other creditors

2,717,510

2,875,510

2,728,980

2,880,430

 

Hargeo Investments Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 May 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

Ordinary C of £1 each

1

1

1

1

Ordinary D of £1 each

97

97

97

97

100

100

100

100