REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31st March 2023 |
for |
HOT ENTERPRISES LTD |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31st March 2023 |
for |
HOT ENTERPRISES LTD |
HOT ENTERPRISES LTD (REGISTERED NUMBER: 05847775) |
Contents of the Financial Statements |
for the Year Ended 31st March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HOT ENTERPRISES LTD |
Company Information |
for the Year Ended 31st March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
52 St Johns Lane |
Halifax |
West Yorkshire |
HX1 2BW |
HOT ENTERPRISES LTD (REGISTERED NUMBER: 05847775) |
Balance Sheet |
31st March 2023 |
31/3/23 | 31/3/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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 |
HOT ENTERPRISES LTD (REGISTERED NUMBER: 05847775) |
Notes to the Financial Statements |
for the Year Ended 31st March 2023 |
1. | STATUTORY INFORMATION |
HOT Enterprises Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover relates to rents due from tenants and the provision of associated services. |
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 |
Long leasehold | - |
Office equipment | - |
Fixtures & fittings | - |
Computer equipment | - |
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. |
HOT ENTERPRISES LTD (REGISTERED NUMBER: 05847775) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
2. | ACCOUNTING POLICIES - continued |
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 NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Long | Office | Fixtures | Computer |
leasehold | equipment | & fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2022 |
Additions |
At 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/3/22 |
£ | £ |
Trade debtors |
Bad debt provision | (13,906 | ) | (13,129 | ) |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/23 | 31/3/22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
VAT | 14,818 | 18,862 |
Accruals and deferred income |
HOT ENTERPRISES LTD (REGISTERED NUMBER: 05847775) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
7. | PROVISIONS FOR LIABILITIES |
31/3/23 | 31/3/22 |
£ | £ |
Deferred tax | 34,784 | 31,588 |
Deferred |
tax |
£ |
Balance at 1st April 2022 |
Charge to Income Statement during year |
Balance at 31st March 2023 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/23 | 31/3/22 |
value: | £ | £ |
Ordinary | 100 | 100 | 100 |
9. | RESERVES |
Retained |
earnings |
£ |
At 1st April 2022 |
Profit for the year |
Dividends | ( |
) |
At 31st March 2023 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Transactions with Directors |
During the year charges have been made by U-Look-I-C Limited, a company linked to Paul Blackman, for consultancy services. |
The charges in the year were £6,000, and there was a balance of £Nil outstanding at 31 March 2023. |
HOT ENTERPRISES LTD (REGISTERED NUMBER: 05847775) |
Notes to the Financial Statements - continued |
for the Year Ended 31st March 2023 |
12. | POST BALANCE SHEET EVENTS |
A distribution of £7,742 to the parent charity, Halifax Opportunities Trust, has been agreed based on these financial statements. This distribution will be paid within 9 months of the financial year end. |
13. | ULTIMATE CONTROLLING PARTY |
The company is under the control of the trustees of Halifax Opportunities Trust, its parent charitable company, which owns 100% of the share capital of Elsie Whiteley Innovation Centre. |