H M Commercial Limited Filleted accounts for Companies House (small and micro)

H M Commercial Limited Filleted accounts for Companies House (small and micro)

H M COMMERCIAL LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09433922
H M COMMERCIAL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 February 2023
H M COMMERCIAL LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 4
H M COMMERCIAL LIMITED
STATEMENT OF FINANCIAL POSITION
28 February 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
1,145,733
1,136,282
CURRENT ASSETS
Cash at bank and in hand
2,214
1,839
CREDITORS: amounts falling due within one year
5
( 795,985)
( 771,890)
---------
---------
NET CURRENT LIABILITIES
( 793,771)
( 770,051)
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
351,962
366,231
CREDITORS: amounts falling due after more than one year
6
( 319,521)
( 349,783)
---------
---------
NET ASSETS
32,441
16,448
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
32,341
16,348
--------
--------
SHAREHOLDER FUNDS
32,441
16,448
--------
--------
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 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
H M COMMERCIAL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2023
These financial statements were approved by the board of directors and authorised for issue on 25 October 2023 , and are signed on behalf of the board by:
H S Manton
Director
Company registration number: 09433922
H M COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 28 Headingley Lane, Leeds, LS6 2AS.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of rents received.
Tangible assets
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Other tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
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
-
15% reducing balance
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. TANGIBLE ASSETS
Investment property
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2022
1,130,996
10,534
1,141,530
Additions
10,244
–
10,244
------------
--------
------------
At 28 February 2023
1,141,240
10,534
1,151,774
------------
--------
------------
Depreciation
At 1 March 2022
–
5,248
5,248
Charge for the year
–
793
793
------------
--------
------------
At 28 February 2023
–
6,041
6,041
------------
--------
------------
Carrying amount
At 28 February 2023
1,141,240
4,493
1,145,733
------------
--------
------------
At 28 February 2022
1,130,996
5,286
1,136,282
------------
--------
------------
5. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
29,379
30,496
Trade creditors
500
–
Social security and other taxes
4,152
1,647
Amounts due to related companies
427,941
397,625
Other creditors
329,028
338,122
Other creditors
4,985
4,000
---------
---------
795,985
771,890
---------
---------
6. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
319,521
349,783
---------
---------