Company registration number 13537832 (England and Wales)
42 HQ LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
42 HQ LIMITED
COMPANY INFORMATION
Director
Mr W T Beeley
Company number
13537832
Registered office
Abbey Cottage Blakehouse Farm
Marsh Hall Lane
Thurstonland
Huddersfield
HD4 6XA
42 HQ LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
42 HQ LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
984,710
894,472
Current assets
Debtors
5
126
Cash at bank and in hand
734
32,262
860
32,262
Creditors: amounts falling due within one year
6
(1,004,818)
(1,003,621)
Net current liabilities
(1,003,958)
(971,359)
Net liabilities
(19,248)
(76,887)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(19,348)
(76,987)
Total equity
(19,248)
(76,887)
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 22 April 2025 and are signed on its behalf by:
Mr W T Beeley
Director
Company registration number 13537832 (England and Wales)
42 HQ LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information
42 HQ Limited is a private company limited by shares incorporated in England and Wales. The registered office is Abbey Cottage Blakehouse Farm, Marsh Hall Lane, Thurstonland, Huddersfield, HD4 6XA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the year-end, the company had net liabilities of £true19,248 (2023 - £76,887). Having carried out a detailed review of the company’s resources and financial position, the director is confident that the company has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements. The director therefore believes it is appropriate for the financial statements to be prepared on a going concern basis.
1.3
Income from investments
Dividends are accounted for in accordance with the FRS102 1A and are thus included net, without any applicable tax credit.
Income from fixed interest securities, government stocks and other interest receivable are included on an accruals basis.
1.4
Fixed asset investments
Listed investments are measured at fair value with changes in fair value being recognised in the statement of comprehensive income.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
42 HQ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
4
Fixed asset investments
2024
2023
£
£
Listed Investments
984,710
894,472
42 HQ LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
4
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Listed Investments
£
Cost or valuation
At 1 August 2023
894,472
Additions
973,119
Revaluations
91,203
Disposals
(974,084)
At 31 July 2024
984,710
Carrying amount
At 31 July 2024
984,710
At 31 July 2023
894,472
Listed investments are shown at fair value, the cost of these investments at 31st July 2024 was £929,530 (2023 - £930,496).
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
126
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,004,818
1,003,621