| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2024 |
| for |
| HAMKO EUROPE LTD |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2024 |
| for |
| HAMKO EUROPE LTD |
| HAMKO EUROPE LTD (Registered number: 08461991) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| HAMKO EUROPE LTD |
| Company Information |
| for the Year Ended 31 May 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 4 Quex Road |
| London |
| NW6 4PJ |
| HAMKO EUROPE LTD (Registered number: 08461991) |
| Balance Sheet |
| 31 May 2024 |
| 31.5.24 | 31.5.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Non distributable income | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| HAMKO EUROPE LTD (Registered number: 08461991) |
| Balance Sheet - continued |
| 31 May 2024 |
| The financial statements were approved by the director and authorised for issue on |
| HAMKO EUROPE LTD (Registered number: 08461991) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2024 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents amounts receivable from sales and commission dealing in floor covering. |
| Tangible fixed assets and depreciation |
| No depreciation has been provided on the company's freehold investment property, which has been included in the accounts at cost. |
| Other fixed assets are stated at cost less depreciation. |
| Depreciation is provided so as to write off the cost of fixed assets less their estimated residual value over their anticipated useful lives:- |
| Fixtures, fittings and equipment - 10% reducing balance basis |
| Motor Vehicle - 10% reducing balance basis |
| Investment property |
| Investment property and improvement thereto, included in the balance sheet at cost to the company. No depreciation has been provided in respect of the property. |
| Stock |
| Stock is valued at the lower of cost and net realisable value. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures, |
| fittings | Motor |
| & equipment | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2023 |
| and 31 May 2024 |
| DEPRECIATION |
| At 1 June 2023 |
| Charge for year |
| At 31 May 2024 |
| NET BOOK VALUE |
| At 31 May 2024 |
| At 31 May 2023 |
| HAMKO EUROPE LTD (Registered number: 08461991) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2024 |
| 4. | INVESTMENT PROPERTY |
| Residential | Commercial | Total |
| £ | £ | £ |
| COST/ VALUATION |
| At 1 June 2022 | 1,209,778 | 51,673 | 1,261,451 |
| Revaluation | 220,222 | 18,327 | 238,549 |
| AT 31 May 2023 | 1,430,000 | 70,000 | 1,500,000 |
| NET BOOK VALUE |
| At 31 May 2023 | 1,430,000 | 70,000 | 1,500,000 |
| At 31 May 2022 | 1,300,527 | 51,673 | 1,352,200 |
| The Company's investment properties were valued by the Directors at 31 May 2024 based on the Directors' understanding of property market conditions and the specific properties concerned. If this property was not included at valuation, this would be included under the historical cost convention at the original cost of £1,261,451. On sale of the property the gain would be subject to corporation tax. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Bank loans and overdrafts |
| Corporation tax |
| Other creditors |
| Unsecured loan by director: |
| Arash Rezvani | 1,001,194 | 1,004,589 |
| Accruals |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Bank loans - 2-5 years |
| HAMKO EUROPE LTD (Registered number: 08461991) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2024 |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
| value: | £ | £ |
| Ordinary | £1 | 200,000 | 200,000 |
| 9. | RESERVES |
| Non distributable reserve: | Deferred tax | Total non distributable reserve |
| £ | £ | £ |
| Balance at 1 June 2023 | 238,549 | - | 238,549 |
| increase/(decrease) in non distributable reserve/ Deferred tax provision | - | - | - |
| Balance at 31 May 2024 | 238,549 | - | 238,549 |
| Retained earnings: |
| 31.5.24 | 31.5.23 |
| £ | £ |
| Balance at 1 June 2023/ 1 June 2022 | 51,206 | 51,714 |
| Net/ (loss) profit for the year | (1,133 | ) | 492 |
| Dividends | (500 | ) | (1,000 | ) |
| Balance at 31 May 2024/31 May 2023 | 49,573 | 51,206 |