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REGISTERED NUMBER: 07690174 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

HOVNAN & CO LTD

HOVNAN & CO LTD (REGISTERED NUMBER: 07690174)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOVNAN & CO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: H Hampartsoumian





REGISTERED OFFICE: 106 Ashurst Road
Cockfosters
Barnet
EN4 9LG





REGISTERED NUMBER: 07690174 (England and Wales)






HOVNAN & CO LTD (REGISTERED NUMBER: 07690174)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,458 3,320
Investments 5 1,068 10,185
4,526 13,505

CURRENT ASSETS
Stocks 4,866 3,833
Debtors 6 307,588 10,449
Cash at bank 84,938 372,091
397,392 386,373
CREDITORS
Amounts falling due within one year 7 14,676 15,133
NET CURRENT ASSETS 382,716 371,240
TOTAL ASSETS LESS CURRENT
LIABILITIES

387,242

384,745

PROVISIONS FOR LIABILITIES 8 695 631
NET ASSETS 386,547 384,114

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 386,447 384,014
SHAREHOLDERS' FUNDS 386,547 384,114

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HOVNAN & CO LTD (REGISTERED NUMBER: 07690174)

BALANCE SHEET - continued
31 JULY 2024


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 director and authorised for issue on 10 April 2025 and were signed by:





H Hampartsoumian - Director


HOVNAN & CO LTD (REGISTERED NUMBER: 07690174)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Hovnan & Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.
Plant and machinery etc - 25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

HOVNAN & CO LTD (REGISTERED NUMBER: 07690174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are initally recognised at the transaction price including any transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value of the future payments discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 13,475
Additions 1,290
At 31 July 2024 14,765
DEPRECIATION
At 1 August 2023 10,155
Charge for year 1,152
At 31 July 2024 11,307
NET BOOK VALUE
At 31 July 2024 3,458
At 31 July 2023 3,320

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023 10,185
Impairments (9,117 )
At 31 July 2024 1,068
NET BOOK VALUE
At 31 July 2024 1,068
At 31 July 2023 10,185

HOVNAN & CO LTD (REGISTERED NUMBER: 07690174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 26,083 10,449
Other debtors 281,505 -
307,588 10,449

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 3,585 1,121
Taxation and social security 4,752 12,952
Other creditors 6,339 1,060
14,676 15,133

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 695 631

Deferred
tax
£   
Balance at 1 August 2023 631
Provided during year 64
Timing difference
Balance at 31 July 2024 695

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
H Hampartsoumian
Balance outstanding at start of year (17 ) (7,506 )
Amounts advanced - 7,489
Amounts repaid (4,169 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,186 ) (17 )

Director balances are repayable on demand and non-interest bearing.

HOVNAN & CO LTD (REGISTERED NUMBER: 07690174)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

10. RELATED PARTY DISCLOSURES

Included in Debtors falling due within one year is an amount of £250,000 advanced to an associate company. The loan is interest free and repayable on demand .

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H Hampartsoumian.