REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31ST MAY 2024 |
FOR |
HUMBER COURT LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31ST MAY 2024 |
FOR |
HUMBER COURT LIMITED |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
HUMBER COURT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MAY 2024 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
BALANCE SHEET |
31ST MAY 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
Current assets |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
BALANCE SHEET - continued |
31ST MAY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MAY 2024 |
1. | Statutory information |
Humber Court Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Humber Court Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | 10% straight line |
Plant & equipment | 25% straight line |
Tangible fixed assets are held in the balance sheet at cost less depreciation. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Fixed asset investments are shown at cost less provision for permanent diminution in value. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2024 |
2. | Accounting policies - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2024 |
2. | Accounting policies - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 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 and 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 trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Other financial assets |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2024 |
2. | Accounting policies - continued |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducing all of its liabilities. |
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Other financial liabilities |
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled. |
3. | Employees (including officers) |
The average number of employees during the year was |
4. | Tangible fixed assets |
Freehold | Improvem'ts | Plant & |
property | to property | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1st June 2023 |
Additions |
Disposals | ( |
) | ( |
) |
Reclassification/transfer | ( |
) |
At 31st May 2024 |
Depreciation |
At 1st June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
Reclassification/transfer | ( |
) |
At 31st May 2024 |
Net book value |
At 31st May 2024 |
At 31st May 2023 |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2024 |
5. | Fixed asset investments |
Shares in |
group | Unlisted |
undertakings | investments | Totals |
£ | £ | £ |
Cost |
At 1st June 2023 | 200 |
Additions | 150 |
At 31st May 2024 | 350 |
Net book value |
At 31st May 2024 | 350 |
At 31st May 2023 | 200 |
The company's investments at the Balance sheet date in the share capital of companies include the following: |
Subsidiary |
Registered office: Network House, Thorn Office Centre, Hereford, HR2 6JT |
Nature of business: |
% |
Class of shares: | holding |
31.5.24 | 31.5.23 |
£ | £ |
Aggregate capital and reserves |
Associated companies |
Registered office: Thorn Business Centre, Rotherwas, Hereford, United Kingdom, HR2 6JT |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2024 |
5. | Fixed asset investments - continued |
Registered office: Thorn Business Centre, Rotherwas, Hereford, HR2 6JT |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
6. | Investment property |
Total |
£ |
Fair value |
At 1st June 2023 |
Disposals | ( |
) |
At 31st May 2024 |
Net book value |
At 31st May 2024 |
At 31st May 2023 |
7. | Debtors |
31.5.24 | 31.5.23 |
£ | £ |
Amounts falling due within one year: |
Prepayments & other debtors |
Loan <1 year | 14,400 | 38,795 |
S455 | 116,400 | 116,400 |
Directors' loan accounts | 165,881 | 897,068 |
Amounts falling due after more than one year: |
Loan >1 year | 826,286 | 840,686 |
Aggregate amounts |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2024 |
8. | Creditors: amounts falling due within one year |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to associates | 270,333 | 270,333 |
Social security & other tax |
Other creditors |
S455 |
9. | Creditors: amounts falling due after more than one year |
31.5.24 | 31.5.23 |
£ | £ |
Bank loan more than five years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loan more than five years | - | 209,000 |
10. | Secured debts |
The bank loan is secured by a fixed and floating charge over the assets of the company along with a joint and several personal guarantee from the Directors. |
The bank loans repayable more than 5 years are to be repaid by 2040. |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
51 | Ordinary A | £1 | 51 | 51 |
49 | Ordinary B | £1 | 49 | 49 |
100 | 100 |
12. | Contingent liabilities & lease commitments |
There were no contingent liabilities or lease commitments as at 31st May 2024. |
HUMBER COURT LIMITED (REGISTERED NUMBER: 09019854) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MAY 2024 |
13. | Directors' advances, credits and guarantees |
During the year, the directors used a current account with the company to record amounts due to them and amounts drawn by them. The balance owed to the company at the end of the year was £165,881 (2023: £897,068). Loans and advances of £171,730 and repayments totalling £902,918 were made. |
During the year, the company was charged £nil rent by the directors for the use of business premises (2023: £8,000). |
14. | Related party disclosures |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
TWMPA Capital Limited |
The company is related to TWMPA Capital Limited, a company for which Humber Court Limited holds a 50% shareholding, the balance outstanding at the end of the year was £50 owed by the company (2023: £50). |
Ambrey Limited |
Ambrey Limited is a company of which the company owns 50% of the shares, the balance outstanding at the end of the year was £270,283 owed by the company (2023: £270,283). |