H.Q. FOODS (B'HAM) LIMITED Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 8711578

H.Q. FOODS (B'HAM) LIMITED

Filleted Unaudited Financial Statements

30 September 2024

H.Q. FOODS (B'HAM) LIMITED

Financial Statements

Year ended 30 September 2024

Contents	Page

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

H.Q. FOODS (B'HAM) LIMITED

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of H.Q. FOODS (B'HAM) LIMITED

Year ended 30 September 2024

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 September 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants

P.O. Box 10901 Birmingham B1 1ZQ

10 September 2025

H.Q. FOODS (B'HAM) LIMITED

Statement of Financial Position

30 September 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Intangible assets	7	1	1
Tangible assets	8	188,761	155,409
		---------	---------
		188,762	155,410

Current assets

Stocks	9	203,582	289,245
Debtors	10	580,820	391,375
Cash at bank and in hand		548,663	126,258
		------------	---------
		1,333,065	806,878

Creditors: amounts falling due within one year	11	1,167,812		698,040
		------------		---------
Net current assets			165,253		108,838
			---------		---------
Total assets less current liabilities			354,015		264,248

Creditors: amounts falling due after more than one year	12		55,151		31,819

Provisions

Taxation including deferred tax	607	607
	---------	---------
Net assets	298,257	231,822
	---------	---------

Capital and reserves

Called up share capital	14	100	100
Profit and loss account		298,157	231,722
		---------	---------
Shareholders funds		298,257	231,822
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

H.Q. FOODS (B'HAM) LIMITED

Statement of Financial Position (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 10 September 2025 , and are signed on behalf of the board by:

Mr A. Singh

Director

Company registration number: 8711578

H.Q. FOODS (B'HAM) LIMITED

Notes to the Financial Statements

Year ended 30 September 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Fawdry Street, Smethwick, B66 2SD, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & machinery	-	20% straight line
Fixtures & Fittings	-	20% straight line
Motor vehicles	-	20% straight line
Equipment	-	20 % straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2023: 12 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	55,553	70,532

Deferred tax:

Origination and reversal of timing differences	–	607
	--------	--------
Tax on profit	55,553	71,139
	--------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2023: higher than) the standard rate of corporation tax in the UK of 24.82 % (2023: 22 %).

	2024	2023
	£	£
Profit on ordinary activities before taxation	235,988	327,661
	---------	---------
Profit on ordinary activities by rate of tax	58,581	68,737
Effect of expenses not deductible for tax purposes	8,715	( 466)
Effect of capital allowances and depreciation	( 11,743)	2,261
Other tax adjustment to increase/(decrease) tax liability - desc in a/cs	–	607
	---------	---------
Tax on profit	55,553	71,139
	---------	---------

6. Dividends

	2024	2023
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	114,000	114,000
	---------	---------

7. Intangible assets

	Goodwill
	£
Cost
At 1 October 2023 and 30 September 2024	10,000
	--------
Amortisation
At 1 October 2023 and 30 September 2024	9,999
	--------
Carrying amount
At 30 September 2024	1
	--------
At 30 September 2023	1
	--------

8. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Oct 2023	130,909	42,271	22,139	66,985	17,751	280,055
Additions	–	9,298	3,475	45,000	–	57,773
	---------	--------	--------	---------	--------	---------
At 30 Sep 2024	130,909	51,569	25,614	111,985	17,751	337,828
	---------	--------	--------	---------	--------	---------
Depreciation
At 1 Oct 2023	–	41,604	6,580	60,737	15,725	124,646
Charge for the year	–	2,026	5,123	15,247	2,025	24,421
	---------	--------	--------	---------	--------	---------
At 30 Sep 2024	–	43,630	11,703	75,984	17,750	149,067
	---------	--------	--------	---------	--------	---------
Carrying amount
At 30 Sep 2024	130,909	7,939	13,911	36,001	1	188,761
	---------	--------	--------	---------	--------	---------
At 30 Sep 2023	130,909	667	15,559	6,248	2,026	155,409
	---------	--------	--------	---------	--------	---------

9. Stocks

	2024	2023
	£	£
Raw materials and consumables	203,582	289,245
	---------	---------

10. Debtors

	2024	2023
	£	£
Trade debtors	360,808	305,128
Amounts owed by group undertakings and undertakings in which the company has a participating interest	192,779	–
Other debtors	27,233	86,247
	---------	---------
	580,820	391,375
	---------	---------

11. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	807,665	645,470
Amounts owed to group undertakings and undertakings in which the company has a participating interest	30,062	( 149,830)
Corporation tax	147,373	92,177
Social security and other taxes	6,696	9,830
Other creditors - desc in a/cs	47,923	47,923
Other creditors	128,093	52,470
	------------	---------
	1,167,812	698,040
	------------	---------

12. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	55,151	31,819
	--------	--------

13. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	607	607
	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	607	607
	----	----

14. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

15. Contingencies

HM Revenue & Customs have issued an assessment for additional import duty amounting to £47,922.76 on 7th May 2024. The Company has appealed against the assessment to HM Courts & Tribunials service. The hearing is yet to take place and therefore the outcome of the appeal is uncertain.

16. Directors' advances, credits and guarantees

At 30th September 2024, other creditors include the following amounts due to the directors:- Mr A. Singh £40,166 cr (2023 - £6,062 dr) Mr B. Singh £26,116 cr (2023 - £20,076 dr) Mr J. Singh £14,469 cr (2023 - £31,723 dr) The loans are interest-free and repayable on demand

17. Related party transactions

Mr A. Singh received dividends of £38,000 for the period under review Mr B. Singh received dividends of £38,000 for the period under review Mr J. Singh received dividends of £38,000 for the period under review HQ Foods (Bham) Ltd occupies freehold premises owned by Kang & Mand Ltd, an associated company. Mr A. Singh & Mr B. Singh are common directors and shareholders of both Companies. It has been agreed that £30,000 excluding Vat will be charged on an annual basis. Included within debtors is an amount owed by Kang & Mand Ltd, an associated company, amounting to £39,314 (£39,314 - 2023), AB&J Investments ltd an associated company, £153,465 (2023 - £105,785). These loans are for an indefinite period and interest-free, however they are repayable on demand.