H2VIN Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06977075 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2022

for

H2VIN Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Honorez

M R Wilkin

SECRETARY:

REGISTERED OFFICE:

22 Melton Road

Whissendine

Rutland

LE15 7EU

REGISTERED NUMBER:

06977075 (England and Wales)

ACCOUNTANTS:

McDermott & Co

Unit 111, The Light Bulb

1 Filament Walk

London

SW18 4GQ

FIXED ASSETS

Tangible assets

4

2,206

2,566

CURRENT ASSETS

Stocks

449,876

483,599

Debtors

5

103,118

135,469

Cash at bank

178,449

51,228

731,443

670,296

CREDITORS

Amounts falling due within one year

6

481,489

467,860

NET CURRENT ASSETS

249,954

202,436

TOTAL ASSETS LESS CURRENT LIABILITIES

252,160

205,002

CREDITORS

Amounts falling due after more than one year

7

(51,238

)

(73,304

)

PROVISIONS FOR LIABILITIES

(419

)

(488

)

NET ASSETS

200,503

131,210

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

99,910

99,910

Retained earnings

100,493

31,200

SHAREHOLDERS' FUNDS

200,503

131,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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.

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 22 September 2022 and were signed on its behalf by:

C Honorez - Director

1.	STATUTORY INFORMATION

H2VIN 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.

Plant and machinery etc

-

25% 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2021

22,821

Additions

2,002

At 31 July 2022

24,823

DEPRECIATION

At 1 August 2021

20,255

Charge for year

2,362

At 31 July 2022

22,617

NET BOOK VALUE

At 31 July 2022

2,206

At 31 July 2021

2,566

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

Plant and

machinery

etc

£

COST

At 1 August 2021

and 31 July 2022

5,150

DEPRECIATION

At 1 August 2021

and 31 July 2022

2,575

NET BOOK VALUE

At 31 July 2022

2,575

At 31 July 2021

2,575

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

98,553

134,087

Other debtors

4,565

1,382

103,118

135,469

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans and overdrafts (see note 8)

18,386

9,386

Hire purchase contracts (see note 9)

-

557

Trade creditors

119,298

173,035

Taxation and social security

106,435

88,685

Other creditors

237,370

196,197

481,489

467,860

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans (see note 8)

51,238

73,280

Hire purchase contracts (see note 9)

-

24

51,238

73,304

8.

LOANS

An analysis of the maturity of loans is given below:

31.7.22

31.7.21

£

£

Amounts falling due within one year or on demand:

Bank loans

18,386

9,386

Amounts falling due between one and two years:

Bank loans - 1-2 years

9,386

9,386

BBL 1 - 2 years

9,000

9,000

18,386

18,386

Amounts falling due between two and five years:

Bank loans - 2-5 years

7,274

13,894

Bank loans 2-5 years

25,578

41,000

32,852

54,894

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.7.22

31.7.21

£

£

Net obligations repayable:

Within one year

-

557

Between one and five years

-

24

-

581

Non-cancellable operating

leases

31.7.22

31.7.21

£

£

Within one year

12,799

5,496

Between one and five years

11,687

-

24,486

5,496

10.	ULTIMATE CONTROLLING PARTY

The controlling party is C Honorez.

11.	SECURED DEBTS

The following secured debts are included within creditors:

Bank loans £26,046 (31.07.21 £32,666).

The loans are secured by personal guarantess from the directors.