Registration number:
H.G. Holdings Limited
for the Year Ended 30 September 2024
H.G. Holdings Limited
Registration number: 09480572
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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- |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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Approved and authorised by the
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H.G. Holdings Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Registered number: 09480572.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Audit report
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change
attributable to an item of income or expense recognised as other comprehensive income is also
recognised directly in other comprehensive income.
H.G. Holdings Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Motor vehicles |
25% per annum on cost |
Investment property
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
H.G. Holdings Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company during the year was
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Tangible assets |
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Motor vehicles |
Total |
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Cost or valuation |
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At 1 October 2023 |
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Additions |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Charge for the year |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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H.G. Holdings Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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Investment properties |
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2024 |
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Additions |
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At 30 September |
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The value of the investment properties are assessed each year by the directors. The directors are
experienced within the building trade regionally and nationally and hence are in a position to reliable
estimate this. The directors use observable market prices, adjusted if necessary for any difference in nature, location or condition of a specific asset.
There has been no valuation of investment property by an independent valuer.
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Investments |
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2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 October 2023 |
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Additions |
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Disposals |
( |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Social security and other taxes |
107,435 |
47,447 |
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H.G. Holdings Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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Creditors |
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2024 |
2023 |
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Due within one year |
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Trade payables |
9,717 |
1,281 |
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Amounts due to related parties |
870,946 |
389,453 |
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Other payables |
81,272 |
50,137 |
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961,935 |
440,871 |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The parent of the largest group in which these financial statements are consolidated is
The address of Hunt Group is:
Scunthorpe
North Lincolnshire
DN16 1DQ