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Registered number: 10677927
Haute World Group Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10677927
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,394 18,111
Investments 5 655 655
16,049 18,766
CURRENT ASSETS
Debtors 6 4,155,927 3,853,918
Cash at bank and in hand 12,000 8,384
4,167,927 3,862,302
Creditors: Amounts Falling Due Within One Year 7 (112,230 ) (131,205 )
NET CURRENT ASSETS (LIABILITIES) 4,055,697 3,731,097
TOTAL ASSETS LESS CURRENT LIABILITIES 4,071,746 3,749,863
Creditors: Amounts Falling Due After More Than One Year 8 (4,061,526 ) (3,924,993 )
NET ASSETS/(LIABILITIES) 10,220 (175,130 )
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 10,120 (175,230 )
SHAREHOLDERS' FUNDS 10,220 (175,130)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr Hamzah Soukat Alli
Director
28th February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Haute World Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10677927 . The registered office is 1 Fishwick Park , Mercer Street , Preston , PR1 4LZ.
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. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. 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 15% Reducing balance
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 year 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.
...CONTINUED
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2.5. Taxation - continued
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 asset reflects 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.
2.6. Group accounts
The financial statements present information about the company as an individual undertaking and not about the group. The company and its subsidiary undertakings comprise of a small group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 25)
15 25
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 29,483
As at 31 March 2024 29,483
Depreciation
As at 1 April 2023 11,372
Provided during the period 2,717
As at 31 March 2024 14,089
Net Book Value
As at 31 March 2024 15,394
As at 1 April 2023 18,111
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5. Investments
Unlisted
£
Cost
As at 1 April 2023 655
Additions 50
Disposals (50 )
As at 31 March 2024 655
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 655
As at 1 April 2023 655
Investments comprise:
100% of the issued share capital of HD BBone Limited, 50% of the issued share capital of HD Ellessone Limited,100% of the issued share capital of HC Leone Limited,50% of the issued share capital of Coventry Desserts Limited,50% of the issued share capital of HD World Bolton Limited,50% of the issused share capital of Dolci (Liverpool) Limited, 100% of the issued share capital of Haute World Distribution Limited, 100% of the issued share capital of Haute World Franchise Limited, 50% of the issued share capital of HD (Ilford) Limited, and 100% of ths issued share capital of HD Preston Limited, companies registered in England & Wales.
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 307,147 188,244
Other debtors 1,741 1,786
308,888 190,030
Due after more than one year
Other debtors 1,426,660 1,332,831
Amounts owed by group undertakings 2,420,379 2,331,057
3,847,039 3,663,888
4,155,927 3,853,918
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 61,393 89,746
Bank loans and overdrafts 6,000 6,000
Other taxes and social security 38,795 33,039
Other creditors 6,042 2,420
112,230 131,205
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 30,647 36,457
Other creditors 2,460,694 2,356,485
Amounts owed to group undertakings 1,570,185 1,532,051
4,061,526 3,924,993
9. Controlling Party
The company's controlling party is Al-Shajarah Group Limited by virtue of his ownership of 60% of the issued share capital in the company.
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