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Registered number: 09492502
HM Retail Ltd
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09492502
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 150,000 150,000
Tangible Assets 5 4,209 4,627
154,209 154,627
CURRENT ASSETS
Stocks 6 152,099 74,117
Debtors 7 11,658 11,658
Cash at bank and in hand 28,587 83,283
192,344 169,058
Creditors: Amounts Falling Due Within One Year 8 (130,528 ) (87,936 )
NET CURRENT ASSETS (LIABILITIES) 61,816 81,122
TOTAL ASSETS LESS CURRENT LIABILITIES 216,025 235,749
Creditors: Amounts Falling Due After More Than One Year 9 (314,437 ) (303,890 )
NET LIABILITIES (98,412 ) (68,141 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (98,512 ) (68,241 )
SHAREHOLDERS' FUNDS (98,412) (68,141)
Page 1
Page 2
For the year ending 31 August 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
F Alimahomed
Director
27th May 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HM Retail Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09492502 . The registered office is 109 Coleman Road, Leicester, LE5 4LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 15% on cost
Fixtures & Fittings 15% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 8)
10 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 150,000
As at 31 August 2024 150,000
Net Book Value
As at 31 August 2024 150,000
As at 1 September 2023 150,000
Page 3
Page 4
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 September 2023 8,025 17,044 25,069
Additions - 1,050 1,050
As at 31 August 2024 8,025 18,094 26,119
Depreciation
As at 1 September 2023 8,024 12,418 20,442
Provided during the period - 1,468 1,468
As at 31 August 2024 8,024 13,886 21,910
Net Book Value
As at 31 August 2024 1 4,208 4,209
As at 1 September 2023 1 4,626 4,627
6. Stocks
2024 2023
£ £
Finished goods 152,099 74,117
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,983 1,983
Other debtors 9,675 9,675
11,658 11,658
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 106,987 84,573
Other creditors 11,478 3,233
Taxation and social security 12,063 130
130,528 87,936
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 314,437 303,890
Page 4
Page 5
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the current and prior periods:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Furkan Alimahomed (151,945 ) (5,123 ) - - (157,068 )
Mr Fayaz Alimahomed (151,945 ) (5,424 ) - - (157,369 )
The above loan is unsecured, interest free and repayable on demand.
Page 5