2023-04-012024-03-312024-03-31falseSC495119H & N (HOLDINGS) 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H & N (HOLDINGS) LTD

Registered Number
SC495119
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

H & N (HOLDINGS) LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

ATWAL, Harjinder Singh
ATWAL, Narinder Singh

Registered Address

108/1 George Street
Edinburgh
EH2 4LH

Registered Number

SC495119 (Scotland)
H & N (HOLDINGS) LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property31,275,4161,275,416
1,275,4161,275,416
Current assets
Debtors4596,453627,619
Cash at bank and on hand10,10415,090
606,557642,709
Creditors amounts falling due within one year5(741,128)(679,235)
Net current assets (liabilities)(134,571)(36,526)
Total assets less current liabilities1,140,8451,238,890
Creditors amounts falling due after one year6(473,756)(480,683)
Net assets667,089758,207
Capital and reserves
Called up share capital60,00360,003
Profit and loss account607,086698,204
Shareholders' funds667,089758,207
The financial statements were approved and authorised for issue by the Board of Directors on 11 March 2025, and are signed on its behalf by:
ATWAL, Harjinder Singh
Director
Registered Company No. SC495119
H & N (HOLDINGS) LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
H & N (Holdings) Ltd is a private company, limited by shares, registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' including the provisions of Section 1A ''Small Entities'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents the rent receivable in the period. Income is recognised in the period to which it relates.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investment property
Investment property which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit and loss account.
Financial instruments
Financial assets and liabilities are offset, with the net amounts presented 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 or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Investment property
In the opinion of the director, the market value of the other property is not materially different to the carrying value in the accounts as the balance sheet.

£
Fair value at 01 April 231,275,416
At 31 March 241,275,416
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables10,8821,997
Other debtors585,571625,622
Total596,453627,619
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-704
Bank borrowings and overdrafts41,96577,003
Taxation and social security25,45020,989
Other creditors657,121563,947
Accrued liabilities and deferred income16,59216,592
Total741,128679,235
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts473,756480,683
Total473,756480,683
Included within creditors falling due within one year and creditors falling due after one year is £ 499,387 (2023: £538,703) in respect of a Flexi Business Loan and and Commercial Mortgage loan. This loan is secured by a fixed and floating charge over present and future assets of the company. Also, included in Included within creditors falling due within one year and creditors falling due after one year is £16,335 (2023: £18,984) in respect of a loan guarantee by the government under Coronavirus Business Interruption Loan Scheme. This loan is payable by May 2026.
7.Related party transactions
Included in other debtors are the amounts due from the companies owned by the director or close relatives of the directors due with in 12 months. HA Aberdeen Ltd £35,000 (2023: £50,000); HWS Edinburgh Ltd £900 (2023: £900); NA Aberdeen Ltd £30,000 (2023: £30,000); Hadplaid £519,602 (2023: £544,719) Hadplaid Ltd acts as management company for H&N Holdings Ltd. The management charges amounting to £10,410 (2023: £4,410) recorded in accounts are paid to Hadplaid Ltd. Included in other creditors falling due within one year are the amount owed to directors £645,121 (2023: £551,946) The company has leased its investment property to NA Edinburgh Ltd £95,000 (2023: £95,000), a company owned by the director N Atwal.