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REGISTERED NUMBER: 11592701 (England and Wales)















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: J F Cook
Mrs P L Cook





REGISTERED OFFICE: 9 Fusion Court
Aberford Road
Garforth
Leeds
West Yorkshire
LS25 2GH





REGISTERED NUMBER: 11592701 (England and Wales)





AUDITORS: DSC Accountants Ltd
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 1,319,241 2,294,031
Investment property 5 3,450,000 -
4,769,241 2,294,031

CURRENT ASSETS
Debtors 6 12,000 12,000
Prepayments and accrued income 272,549 306,682
Cash at bank 549,259 16,888
833,808 335,570
CREDITORS
Amounts falling due within one year 7 3,285,270 2,235,848
NET CURRENT LIABILITIES (2,451,462 ) (1,900,278 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,317,779

393,753

PROVISIONS FOR LIABILITIES (455,180 ) (12,721 )

ACCRUALS AND DEFERRED INCOME (1,631 ) (1,461 )
NET ASSETS 1,860,968 379,571

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 8 1,360,383 -
Retained earnings 500,584 379,570
1,860,968 379,571

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





J F Cook - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 2,059,712 347,293 2,407,005
Additions 720,870 131,291 852,161
Disposals - (76,000 ) (76,000 )
Reclassification/transfer (1,716,774 ) - (1,716,774 )
At 31 March 2024 1,063,808 402,584 1,466,392
DEPRECIATION
At 1 April 2023 49,506 63,468 112,974
Charge for year 48,614 101,977 150,591
Eliminated on disposal - (35,796 ) (35,796 )
Revaluation adjustments (80,618 ) - (80,618 )
At 31 March 2024 17,502 129,649 147,151
NET BOOK VALUE
At 31 March 2024 1,046,306 272,935 1,319,241
At 31 March 2023 2,010,206 283,825 2,294,031

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 3,450,000
NET BOOK VALUE
At 31 March 2024 3,450,000

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 12,000 12,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,005 6,254
Taxation and social security 90,403 73,733
Other creditors 3,185,862 2,155,861
3,285,270 2,235,848

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 1,360,383

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Graham French (Senior Statutory Auditor)
for and on behalf of DSC Accountants Ltd

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.