Registered number
10816388
HNO Ltd
Unaudited Filleted Accounts
30 June 2024
HNO Ltd
Registered number: 10816388
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 2 80,000 72,000
Current assets
Cash at bank and in hand 14,493 11,775
Creditors: amounts falling due within one year 3 (98,460) (97,536)
Net current liabilities (83,967) (85,761)
Net liabilities (3,967) (13,761)
Capital and reserves
Called up share capital 100 100
Profit and loss account (4,067) (13,861)
Shareholders' funds (3,967) (13,761)
Number Number
Average number of employees 0 0
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Omar Ibrahim
Director
Approved by the board on 13 March 2025
HNO Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment Properties
Investment properties are shown at their most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recognised in the profit and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 30 June 2024 80,000 - - 80,000
Depreciation
At 30 June 2024 - - - -
Net book value
At 30 June 2024 80,000 - - 80,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 83,656 83,656
Cumulative depreciation based on historical cost - -
83,656 83,656
3 Creditors: amounts falling due within one year 2024 2023
£ £
Directors Loan 97,452 96,528
Other creditors 1,008 1,008
98,460 97,536
4 Retained earnings
The split of retained earnings between distributable and non distributable is as follows:
As at 1 July 2023 (3,656) (10,205) (13,861)
Profit for the financial year - 1,794 1,794
Property revaluation movement 8,000 8,000
Interest rate swap adjustment -
Deferred tax on investment property -
Deferred tax on interest rate swap -
-
As at 30 June 2024 (3,656) (411) (4,067)
5 Controlling party
Omar Ibrahim and Helena Ibrahim together control the company by virtue of their combined shareholding.
6 Other information
HNO Ltd is a private company limited by shares and incorporated in England. Its registered office is:
227 Stanley Park Road
Carshalton
Surrey
SM5 3JW
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