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REGISTERED NUMBER: 10490380 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

Hugo Polo.com Limited

Hugo Polo.com Limited (Registered number: 10490380)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hugo Polo.com Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: S J Taylor
H Taylor





REGISTERED OFFICE: The Old Schoolhouse
5-7 Byrom Street
Manchester
M3 4PF





REGISTERED NUMBER: 10490380 (England and Wales)





ACCOUNTANTS: Pareto Tax & Wealth LLP
The Old Schoolhouse
5-7 Byrom Street
Manchester
M3 4PF

Hugo Polo.com Limited (Registered number: 10490380)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 444,116 403,108
Investments 5 - 13,995
444,116 417,103

CURRENT ASSETS
Stocks 779,105 794,105
Debtors 6 147,161 69,027
Cash at bank 47,629 18,859
973,895 881,991
CREDITORS
Amounts falling due within one year 7 135,815 940,797
NET CURRENT ASSETS/(LIABILITIES) 838,080 (58,806 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,282,196

358,297

CREDITORS
Amounts falling due after more than one
year

8

2,006,890

1,014,722
NET LIABILITIES (724,694 ) (656,425 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (724,794 ) (656,525 )
(724,694 ) (656,425 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Hugo Polo.com Limited (Registered number: 10490380)

Balance Sheet - continued
30 November 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 Board of Directors and authorised for issue on 27 June 2025 and were signed on its behalf by:





S J Taylor - Director


Hugo Polo.com Limited (Registered number: 10490380)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Hugo Polo.com 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - 10% on cost

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Going concern
The accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company.

Hugo Polo.com Limited (Registered number: 10490380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 296,360 173,113 469,473
Additions 52,073 6,940 59,013
At 30 November 2024 348,433 180,053 528,486
DEPRECIATION
At 1 December 2023 3,106 63,259 66,365
Charge for year - 18,005 18,005
At 30 November 2024 3,106 81,264 84,370
NET BOOK VALUE
At 30 November 2024 345,327 98,789 444,116
At 30 November 2023 293,254 109,854 403,108

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

Plant and
machinery
etc
£   
COST
At 1 December 2023 26,667
Transfer to ownership (26,667 )
At 30 November 2024 -
DEPRECIATION
At 1 December 2023 5,334
Transfer to ownership (5,334 )
At 30 November 2024 -
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 21,333

Hugo Polo.com Limited (Registered number: 10490380)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2023 13,995
Impairments (13,995 )
At 30 November 2024 -
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 13,995

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 112,752 33,633
Other debtors 34,409 35,394
147,161 69,027

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 6,890 6,890
Hire purchase contracts - 8,820
Trade creditors 1,542 218,368
Other creditors 127,383 706,719
135,815 940,797

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 6,890 13,780
Hire purchase contracts - 942
Other creditors 2,000,000 1,000,000
2,006,890 1,014,722

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 November 2024 the company owed £2,013,887 (2023: £1,593,223) to the directors, of which £2,000,000 is due after more than one year.
The amount is interest free.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H Taylor.