0 01/07/2023 30/06/2024 2024-06-30 false false false false true false false false false false true false false true true false false false true true false 2023-07-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 10623878 2023-07-01 2024-06-30 10623878 2024-06-30 10623878 2023-06-30 10623878 2022-07-01 2023-06-30 10623878 2023-06-30 10623878 2022-06-30 10623878 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 10623878 bus:LeadAgentIfApplicable 2023-07-01 2024-06-30 10623878 bus:Director1 2023-07-01 2024-06-30 10623878 core:WithinOneYear 2024-06-30 10623878 core:WithinOneYear 2023-06-30 10623878 core:ShareCapital 2024-06-30 10623878 core:ShareCapital 2023-06-30 10623878 core:RetainedEarningsAccumulatedLosses 2024-06-30 10623878 core:RetainedEarningsAccumulatedLosses 2023-06-30 10623878 bus:OrdinaryShareClass1 core:ShareCapital 2024-06-30 10623878 bus:OrdinaryShareClass1 core:ShareCapital 2023-06-30 10623878 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 10623878 core:Non-currentFinancialInstruments core:OtherIncreaseDecreaseInInvestments 2024-06-30 10623878 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 10623878 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-06-30 10623878 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-06-30 10623878 core:ImpairmentReversalProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-06-30 10623878 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-06-30 10623878 core:Non-currentFinancialInstruments 2024-06-30 10623878 core:Non-currentFinancialInstruments 2023-06-30 10623878 bus:SmallEntities 2023-07-01 2024-06-30 10623878 bus:Audited 2023-07-01 2024-06-30 10623878 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10623878 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10623878 bus:FullAccounts 2023-07-01 2024-06-30 10623878 core:WithinOneYear 2023-07-01 2024-06-30
Company registration number: 10623878
Hirize Limited
Filleted financial statements
30 June 2024
Hirize Limited
Contents
Statement of financial position
Notes to the financial statements
Hirize Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 62,826 413,140
_______ _______
62,826 413,140
Current assets
Listed securities & options held for resale 1,669,255 1,085,519
Cash at bank and in hand ( 111,954) 305,484
_______ _______
1,557,301 1,391,003
Creditors: amounts falling due
within one year 6 ( 1,580,351) ( 1,586,791)
_______ _______
Net current liabilities ( 23,050) ( 195,788)
_______ _______
Total assets less current liabilities 39,776 217,352
_______ _______
Net assets 39,776 217,352
_______ _______
Capital and reserves
Called up share capital 7 100 100
Profit and loss account 8 39,676 217,252
_______ _______
Shareholders funds 39,776 217,352
_______ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 March 2025 , and are signed on behalf of the board by:
Mr Amin Merali
Director
Company registration number: 10623878
Hirize Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 7 Greenock Road, Acton, London, W3 8DU. The principal activity of the company is that of trading in securities and options. The secondary activity is that of indirectly investing in entities dealing with building developments .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and fixed asset investments measured at fair value through profit or loss . The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Directors have carefully considered the impact of the macroeconomic uncertainties and the conflict in Ukraine and Gaza on the Company's financial position, liquidity and future performance.The Directors, at the time of approving the financial statements, have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. In reaching this conclusion the directors have considered tahe financial position of the Company's cash and liquidity position and financial support from Group companies.The going concern basis of accounting has therefore continued to be adopted in preparing the financial statements.
Disclosure exemptions
The company satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Treats Holdings Limited which can be obtained from the Registrar of Companies (England and Wales), Companies House, Cardiff. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS102:(a) No cash flow statement has been presented for the company.(b) Disclosures in respect of financial instruments have not been presented .
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are based on the experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents proceeds from sale of listed securities and options, income from loan investments and other equity investments.Revenue is recognised when the significant risks and rewards of ownership have transferred and the amount of revenue can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Listed securities and options held for resale
Listed securities and options are measured at the lower of cost and estimated selling price less costs to sell. Estimated selling price is the closing price of the listed securities and options from stock market at the year end date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
There were no employees during the year other than the directors.
5. Investments
Other investments other than loans Other loans Total
£ £ £
Cost
At 1 July 2023 129,086 369,203 498,289
Non trading loan written off - ( 165,453) ( 165,453)
_______ _______ _______
At 30 June 2024 129,086 203,750 332,836
_______ _______ _______
Impairment
At 1 July 2023 27,838 57,311 85,149
Impairment loss 94,960 116,143 211,103
Reversal of impairment loss - ( 26,242) ( 26,242)
_______ _______ _______
At 30 June 2024 122,798 147,212 270,010
_______ _______ _______
Carrying amount
At 30 June 2024 6,288 56,538 62,826
_______ _______ _______
At 30 June 2023 101,248 311,892 413,140
_______ _______ _______
Included above are two non trading loans amounting £165,453 which are not recoverable. Accordingly these have been written off in the financial statements.
6. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors - 9,600
Amounts owed to group undertakings 1,502,682 1,502,682
Corporation tax 72,269 68,509
Other creditors 5,400 6,000
_______ _______
1,580,351 1,586,791
_______ _______
The amount owed to group undertakings is unsecured, interest free and repayable on demand.
7. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses .
9. Summary audit opinion
The auditor's report dated 28 March 2025 was unqualified.
The senior statutory auditor was Bharatkumar L Shah for and on behalf of Anderson Shaw
10. Related party transactions
The company is exempt from the requirement to disclose transactions with other group companies on the grounds that all of its voting rights are controlled by Treats Holdings Limited and the company's results are consolidated within the financial statements of Treats Holdings Limited.
11. Controlling party
Treats Holdings Limited , a company incorporated in England and Wales, is the ultimate holding company. In the opinion of the directors, Mr A Merali controls the company.