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REGISTERED NUMBER: 07044380 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

HEMINGWAY FORWARD LIMITED

PREVIOUSLY KNOWN AS
HEMINGWAY CLOTHING COMPANY LTD

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HEMINGWAY FORWARD LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTOR: Ms D. Doyle





REGISTERED OFFICE: Langley House
Park Road
London
N2 8EY





REGISTERED NUMBER: 07044380 (England and Wales)





ACCOUNTANTS: Accura Accountants Limited
Langley House
Park Road
East Fichley
London
N2 8EY

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380)

STATEMENT OF FINANCIAL POSITION
31 October 2024

31.10.24 31.10.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 164,272 133,539
Investments 5 1 1
Investment property 6 1,200,000 1,170,000
1,364,273 1,303,540

CURRENT ASSETS
Stocks 134,000 74,000
Debtors 7 9,791 4,464
Cash at bank and in hand 65,685 73,141
209,476 151,605
CREDITORS
Amounts falling due within one year 8 84,622 156,971
NET CURRENT ASSETS/(LIABILITIES) 124,854 (5,366 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,489,127

1,298,174

CREDITORS
Amounts falling due after more than one
year

9

(1,270,000

)

(1,270,000

)

PROVISIONS FOR LIABILITIES (33,385 ) (25,372 )
NET ASSETS 185,742 2,802

CAPITAL AND RESERVES
Called up share capital 1 1
Unrealised gains/ (losses) 10 (12,244 ) (184,101 )
Retained earnings 10 197,985 186,902
SHAREHOLDERS' FUNDS 185,742 2,802

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

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

The director acknowledges her 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.

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380)

STATEMENT OF FINANCIAL POSITION - continued
31 October 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 16 April 2025 and were signed by:





Ms D. Doyle - Director


HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Hemingway Forward Limited 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover and other income
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised once the service has been provided.

Rents received are recognised on an accrual basis.

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 - 33% on reducing balance, 25% on reducing balance and 5% on cost.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficits arising from changes in fair value is recognised in profit or loss.

This is a departure from the Companies Act which requires assets to be depreciated. However, in the opinion of the directors, property is held primarily for their investment potential and so fair value is of more significance as a measure of consumption. They therefore have applied a true and fair override with respect to investment properties.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Impairment of asset
A review of 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 reversals at each reporting date.

3. EMPLOYEES AND DIRECTORS

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

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 270,812
Additions 62,158
At 31 October 2024 332,970
DEPRECIATION
At 1 November 2023 137,273
Charge for year 31,425
At 31 October 2024 168,698
NET BOOK VALUE
At 31 October 2024 164,272
At 31 October 2023 133,539

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023 225,000
Transfer to ownership (225,000 )
At 31 October 2024 -
DEPRECIATION
At 1 November 2023 112,500
Transfer to ownership (112,500 )
At 31 October 2024 -
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 112,500

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2023
and 31 October 2024 1
NET BOOK VALUE
At 31 October 2024 1
At 31 October 2023 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 1,170,000
Disposals (170,000 )
Revaluations 200,000
At 31 October 2024 1,200,000
NET BOOK VALUE
At 31 October 2024 1,200,000
At 31 October 2023 1,170,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2017 (116,200 )
Valuation in 2022 (96,043 )
Valuation in 2024 200,000
Cost 1,212,243
1,200,000

In the opinion of director the value of the property in the accounts reflects its fair value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors 9,791 4,464

Included within other debtors are prepayments of £2,835 (2023: £1,708).

HEMINGWAY FORWARD LIMITED (REGISTERED NUMBER: 07044380)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts - 102,846
Trade creditors - 1,825
Amounts owed to group undertakings 11,454 11,454
Taxation and social security 11,706 12,394
Other creditors 61,462 28,452
84,622 156,971

Included in other creditors are accrued expenses of £2,130 (2023: £2,130) and deferred income of £3,743 (2023: £13,868).

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Other creditors 1,270,000 1,270,000

10. RESERVES
Unrealised
Retained gains/
earnings (losses) Totals
£    £    £   

At 1 November 2023 186,902 (184,101 ) 2,801
Profit for the year 182,940 182,940
Adjustment to fair value (171,857 ) 171,857 -
At 31 October 2024 197,985 (12,244 ) 185,741

Within the reserves is an amount of £12,244 (2023: £184,101). This represents the fair value adjustment of the investment properties. FRS 102 requires that the changes in fair value be recognised in the profit and loss, but any unrealised gain is not to be distributed to the shareholders as dividends.

11. RELATED PARTY DISCLOSURES

The director has provided an interest free loan to the company of £1,325,551 (2023: £1,281,538). £55,551 (2023: £11,538) of this balance is disclosed in creditors due within one year, and £1,270,000 (2023: £1,270,000) is disclosed in creditors due after one year.