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Registered Number: 07106656 (England & Wales)
HRFC LIMITED
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BALANCE SHEET
AS AT 30 SEPTEMBER 2024
Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Called up share capital 1 ordinary share of £1
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For the year ended 30 September 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.
Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The Company's financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the Director's Report and profit and loss account in accordance with provisions applicable to companies subject to the small companies regime.
The financial statements were approved and authorised for issue by the sole director:
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James Andrew Derrik Low
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The notes on pages 3 to 4 form part of these financial statements.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Company is a private company limited by shares and is incorporated in the United Kingdom. The address of the registered office is Chapter House, 33 London Road, Reigate, Surrey, RH2 9HZ. The Company did not trade during the current or prior financial year.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, "The Financial Reporting Standard Applicable in the UK and the Republic of Ireland" (FRS 102) and the Companies Act 2006.
The financial statements have been presented in pounds sterling as this is the currency of the primary economic environment in which the company operates nad is rounded to the nearest pound.
The financial statements present information about the Company as a single entity.
The Company has net liabilities of £9,434,903 at the balance sheet date. Deep Blue Restaurants Limited, the ultimate parent company at the date of signing the financial statements, has confirmed that it will continue to provide financial support to the Company for the next twelve months from the date of signing and thereafter for the foreseeable future to enable the Company to meet its liabilities as they fall due. Notwithstanding the net liabilities of £9,434,903, taking the support of Deep Blue Restaurants Limited into account, the director of HRFC Limited considers that it is appropriate to prepare these financial statements on a going concern basis.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial 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 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 at 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 cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The Company had no employees during the current and prior periods except for the director. During the period the director received no emoluments (2023: £nil).
The director of the Company received emoluments from another group entity during the current and previous periods and it is not practicable to ascertain the proportion of their emoluments that specifically relate to this Company. Their remuneration is therefore disclosed in that company's financial statements.
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Activities and profit and loss account
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The Company has not traded during the year, nor made any profits or loss nor incurred any liabilities (2023: £nil). There were no recognised gain or losses relating to the year (2023: £nil).
The Company is a wholly owned subsidiary of Deep Blue Restaurants Limited, a Company registered in England and Wales .
The ultimate parent company is Deep Blue Restaurants Limited, a company registered in England and Wales.
There is no ultimate controlling party.
The smallest and largest group in which the results of the Company are considered is that headed by Deep Blue Restaurants Limited. The consolidated financial statements of this group may be obtained from Companies House or the company's registered at Chapter House, 33 London Road, Reigate, Surrey, RH2 9HZ.
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