HMIT Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06656844 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2022

for

HMIT Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P McNulty BSc. FCA FCCA

Mrs M Shenton FCCA

C G Higginson

SECRETARY:

REGISTERED OFFICE:

Bank House

Market Square

Congleton

Cheshire

CW12 1ET

REGISTERED NUMBER:

06656844 (England and Wales)

ACCOUNTANTS:

Hammond McNulty LLP

Bank House

Market Square

Congleton

Cheshire

CW12 1ET

FIXED ASSETS

Tangible assets

4

26,538

33,342

Investments

5

526,305

408,130

552,843

441,472

CURRENT ASSETS

Debtors

179,241

193,625

Cash at bank

97,335

119,614

276,576

313,239

CREDITORS

Amounts falling due within one year

148,504

164,170

NET CURRENT ASSETS

128,072

149,069

TOTAL ASSETS LESS CURRENT LIABILITIES

680,915

590,541

CREDITORS

Amounts falling due after more than one year

23,692

33,149

NET ASSETS

657,223

557,392

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

657,213

557,382

SHAREHOLDERS' FUNDS

657,223

557,392

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

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th September 2023 and were signed on its behalf by:

P McNulty BSc. FCA FCCA - Director

1.	STATUTORY INFORMATION

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors loans.

Directors loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and Retained Earnings.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Currency

The company's presentational and functional currency is pounds sterling.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st January 2022

135,060

Additions

6,764

At 31st December 2022

141,824

DEPRECIATION

At 1st January 2022

101,718

Charge for year

13,568

At 31st December 2022

115,286

NET BOOK VALUE

At 31st December 2022

26,538

At 31st December 2021

33,342

5.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1st January 2022

408,130

Additions

118,175

At 31st December 2022

526,305

NET BOOK VALUE

At 31st December 2022

526,305

At 31st December 2021

408,130

6.	RELATED PARTY DISCLOSURES

HMIT Limited has invested in Hammond McNulty LLP, an LLP under the control of the directors.

"Interest in other participating interests" as per note 5, is represented solely by its investment in Hammond McNulty LLP.