H300 Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07637655

H300 Limited

Filleted Unaudited Financial Statements

31 December 2024

H300 Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Investments	5	11,150,000	11,150,000

Current assets

Debtors	6	77,958	141,062
Cash at bank and in hand		2,030,669	1,692,254
		------------	------------
		2,108,627	1,833,316

Creditors: amounts falling due within one year	7	3,736,449	3,753,354
		------------	------------
Net current liabilities		1,627,822	1,920,038
		-------------	-------------
Total assets less current liabilities		9,522,178	9,229,962

Provisions

Taxation including deferred tax	2,033,157	2,029,391
	------------	------------
Net assets	7,489,021	7,200,571
	------------	------------

Capital and reserves

Called up share capital	100	100
Other reserves	6,150,946	6,150,946
Profit and loss account	1,337,975	1,049,525
	------------	------------
Shareholders funds	7,489,021	7,200,571
	------------	------------

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 comprehensive income has not been delivered.

For the year ending 31 December 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 .

H300 Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 8 October 2025 , and are signed on behalf of the board by:

A Michael	F Michael
Director	Director

Company registration number: 07637655

H300 Limited

Notes to the Financial Statements

Year ended 31 December 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 230 Shirley Road, Southampton, Hampshire, SO15 3HR.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Taxation

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.

Investments

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the non-distributable reserve.

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.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Taxation on ordinary activities

Analysis of charge in the year

	2024	2023
	£	£
Current tax:
UK Corporation tax based on the results for the year at 19%/25% (2022 - 19%)	92,771	87,021
Over/under provision in prior year	1,162	1,968
Deferred tax	3,766	(1,530)
	--------	--------
Total current tax	97,699	87,459
	--------	--------

5. Investments

	Investment properties
	£
Cost or valuation
At 1 January 2024 and 31 December 2024	11,150,000
	-------------
Impairment
At 1 January 2024 and 31 December 2024	–
	-------------

Carrying amount
At 31 December 2024	11,150,000
	-------------
At 31 December 2023	11,150,000
	-------------

The company purchased the freehold property Unit 300 Edison Road, Hams Hall, Birmingham in a previous year for £2,948,738 as an investment property.

A valuation of the property was undertaken during September 2024 by Jones Lang LaSalle Limited. The property's revaluation of £11,150,000 was incorporated into the previous years accounts at 31 December 2023. The directors believe this to be the fair value of the property at 31 December 2024.

If the property was sold at its market value the anticipated corporation tax liability would be £2,050,316.

6. Debtors

	2024	2023
	£	£
Trade debtors	77,958	141,062
	--------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,681,729	1,681,730
Corporation tax	96,225	107,293
Social security and other taxes	17,680	15,803
Other creditors	1,940,815	1,948,528
	------------	------------
	3,736,449	3,753,354
	------------	------------

8. Deferred tax

The deferred tax provision consists of the following:

	2024	2023
	£	£
Provision for future liability on disposal of investment property	2,050,316	2,050,316
Depreciation in excess of capital allowances	(17,159)	(20,925)
	------------	------------
	2,033,157	2,029,391
	------------	------------

9. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2024	2023
	£	£

Financial liabilities measured at amortised cost

Financial liabilities measured at amortised cost	1,940,815	1,948,528
	------------	------------

10. Contingencies

A shareholder has initiated proceedings in respect of their interest in Justus Corporation Limited, the parent of the Company, or 'the Parent Company'. The proceedings are opposed, and the shareholders are disputing the beneficial ownership of a subsidiary of the Parent Company, as well as another legal entity to which the Parent Company is presently alleged to be contingently liable to. Other disputes include, but are not limited to, the amounts associated with certain loans and cash contributions.

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
A Michael	( 766,832)	–	( 766,832)
F Michael	( 766,833)	–	( 766,833)
	------------	----	------------
	( 1,533,665)	–	( 1,533,665)
	------------	----	------------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
A Michael	( 521,566)	( 245,266)	( 766,832)
F Michael	( 521,566)	( 245,267)	( 766,833)
	------------	---------	------------
	( 1,043,132)	( 490,533)	( 1,533,665)
	------------	---------	------------

12. Other reserves

The other reserve is a non-distributable reserve which consists of the revaluation of the investment property less a provision for deferred taxation thereon.

13. Related party transactions

Justus Corporation Limited wholly acquired H300 Limited in a previous year. La Motte Investments Limited is also a wholly owned subsidiary of Justus Corporation Limited. Justus Corporation Limited and Justus JV Limited have the same directors and shareholders. Justus JV Limited is an associated company of H300 Limited . During the year the following transactions took place, in the ordinary course of business, between the related parties.

	2024	2023
	£	£
Justus Corporation Limited
Management charges payable	70,000	70,000
Balance at 31 December	(1,681,729)	(1,681,729)

The company has charged no interest.

14. Controlling party

In a previous year, H300 Limited became a wholly owned subsidiary of Justus Corporation Limited , company number 04623562, a company registered in England and Wales.