REGISTERED NUMBER: |
H5 DIRECT LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
H5 DIRECT LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
H5 DIRECT LTD (REGISTERED NUMBER: 11592701) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
H5 DIRECT LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Tattersall House |
East Parade |
Harrogate |
North Yorkshire |
HG1 5LT |
H5 DIRECT LTD (REGISTERED NUMBER: 11592701) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings |
The financial statements were approved by the Board of Directors and authorised for issue on |
H5 DIRECT LTD (REGISTERED NUMBER: 11592701) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
H5 Direct Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the 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 |
Investment property |
Investment property has been valued by the directors using market data such as comparable sales. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
H5 DIRECT LTD (REGISTERED NUMBER: 11592701) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2023 |
Additions |
Disposals | ( |
) | ( |
) |
Reclassification/transfer | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
Revaluation adjustments | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Cost | 1,063,808 | 402,584 | 1,466,392 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Revaluations | 1,813,844 |
Reclassification/transfer | 1,636,156 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
H5 DIRECT LTD (REGISTERED NUMBER: 11592701) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2024 | 1,733,226 |
Cost | 1,716,774 |
3,450,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Included within other creditors is a loan from a related party, a company under common control. At the balance sheet date £2,533,532 (2023: £1,338,532) is outstanding. Also included within other creditors is a loan from the director, J F Cook of £652,330 (2023: £47,732). No interest has been charged on this amount. |
8. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation reserve | 1,813,844 |
Deferred tax | (453,461 | ) |
At 31 March 2024 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
H5 DIRECT LTD (REGISTERED NUMBER: 11592701) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
10. | ULTIMATE CONTROLLING PARTY |
The Company's parent company is H5 Group Limited, a limited company incorporated in England and Wales with a registered office of 9 Fusion Court, Aberford Road, Garforth, Leeds, West Yorkshire, LS25 2GH. The parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member is H5 Group Limited. The Company's ultimate parent company is H5 Group Limited and ultimate controlling party is the directors and shareholders of H5 Group Limited. |