Hibau Group Limited
Hibau Group Limited
Registered number: 12009101
Unaudited Financial Statements
For The Year Ended
30 June 2023
Hibau Group Limited
Unaudited Financial Statements
For The Year Ended
30 June 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Hibau Group Limited
Balance Sheet
As At
30 June 2023
Balance Sheet
Registered number:
12009101
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| Investments | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (911,023) | (442,434) | |||
Hibau Group Limited
Balance Sheet (continued)
As At
30 June 2023
On behalf of the board
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Director
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The notes on pages 3 to 6 form part of these financial statements.
Hibau Group Limited
Notes to the Financial Statements
For The Year Ended
30 June 2023
Notes to the Financial Statements
1.
General Information
Hibau Group Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
12009101
. The registered office is Innovation Centre, Maidstone Road, Chatham, Kent, ME5 9FD.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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2.4.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Hibau Group Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2023
2.5.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 9 (2022: 7)
4.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | £ | £ | |
| Cost | |||||
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| Additions |
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| Disposals |
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| Depreciation | |||||
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| Provided during the period |
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| Disposals |
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| Net Book Value | |||||
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5.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at
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| Additions |
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| As at
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...CONTINUED
Hibau Group Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2023
| Provision | |
| As at
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| As at
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| Net Book Value | |
| As at
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6.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Intercompany |
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| VAT | - |
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7.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Inter-company |
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| Accruals and deferred income |
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| Directors' loan accounts |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 2023 | 2022 | ||
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| Bank loans |
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Hibau Group Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 June 2023
10.
Related Party Transactions
Included in the Other Debtors are the following amounts owed by the following companies, all of which are under the control of the directors Mr D South & Mr M Wood. No repayment terms have been set and no interest is to be charged.
Otium Lake Ltd - £123,139 (2022 - £140,840)
HiBau Developments Ltd - £150 (2022 - £150)
DMR Civil Engineering Ltd - £78,124 (2022 - £24,563)
Hibau (Eythorne) Ltd - £14,612 (2022 - £14,612)
Included in the Other Creditors are the following amounts owed to the following companies, all of which are under the control of the directors Mr D South & Mr M Wood. No repayment terms have been set and no interest is to be charged.
HiBau Living Ltd - £902,830 (2022 - £597,092)
Included in the Other Debtors is an amount of £1,266 owed by East Peckham Construction Company Ltd, a company under the control of the director Mr M Wood. No repayment terms have been set and no interest is to be charged.
Included in the Other Creditors is an amount of £280,556 (2022 - £149,883) owed by Bauvill Ltd, a company under the control of the director Mr D South. No repayment terms have been set and no interest is to be charged.
During the year the company was provided services by Hibau Living Ltd, a company under the control of the directors Mr D South & Mr M Wood, amounting to £87,103 of which £87,103 is outstanding.
During the year the company provided services to Hibau Living Ltd, a company under the control of the directors Mr D South & Mr M Wood, amounting to £233,385 of which £0 is outstanding.
During the year the company provided services to Otium Lake Ltd, a company under the control of the directors Mr D South & Mr M Wood, amounting to £436,750 of which £44,905 is outstanding.
During the year the company provided services by Bauvill Ltd, a company under the control of the director Mr D South, amounting to £110,000 of which £10,000 is outstanding.