The Hour Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 10430996

The Hour Limited

Filleted Unaudited Financial Statements

For the year ended

31 October 2022

The Hour Limited

Statement of Financial Position

31 October 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	2,791	271

Current assets

Stocks		23,000	25,000
Debtors	6	19,275	1,907
Cash at bank and in hand		11,839	–
		--------	--------
		54,114	26,907

Creditors: amounts falling due within one year	7	301,043	298,641
		---------	---------
Net current liabilities		246,929	271,734
		---------	---------
Total assets less current liabilities		( 244,138)	( 271,463)
		---------	---------
Net liabilities		( 244,138)	( 271,463)
		---------	---------

Capital and reserves

Called up share capital	4	4
Profit and loss account	( 244,142)	( 271,467)
	---------	---------
Shareholders deficit	( 244,138)	( 271,463)
	---------	---------

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 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

The Hour Limited

Statement of Financial Position (continued)

31 October 2022

These financial statements were approved by the board of directors and authorised for issue on 20 July 2023 , and are signed on behalf of the board by:

Mrs N Rasoeva
Director

Company registration number: 10430996

The Hour Limited

Notes to the Financial Statements

Year ended 31 October 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Hill Street, London, W1J 5NE.

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. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented.

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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

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.

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:

	Fixtures and fittings	-	25% 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.

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.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2021: 1 ).

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 November 2021	1,083
Additions	3,450
	-------
At 31 October 2022	4,533
	-------
Depreciation
At 1 November 2021	812
Charge for the year	930
	-------
At 31 October 2022	1,742
	-------
Carrying amount
At 31 October 2022	2,791
	-------
At 31 October 2021	271
	-------

6. Debtors

	2022	2021
	£	£
Trade debtors	1,040	1,303
Other debtors	18,235	604
	--------	-------
	19,275	1,907
	--------	-------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	–	2,278
Trade creditors	114	250
Other creditors	300,929	296,113
	---------	---------
	301,043	298,641
	---------	---------

8. Director's advances, credits and guarantees

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

	2022
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs N Rasoeva	( 294,363)	( 4,666)	( 299,029)
	---------	-------	---------

	2021
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs N Rasoeva	( 253,363)	( 41,000)	( 294,363)
	---------	--------	---------