Company registration number 05989557 (England and Wales)
HCS SAFETY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
HCS SAFETY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HCS SAFETY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
4
77,156
90,292
Current assets
Debtors
5
373,738
272,818
Cash at bank and in hand
548,636
457,021
922,374
729,839
Creditors: amounts falling due within one year
6
(349,626)
(199,952)
Net current assets
572,748
529,887
Total assets less current liabilities
649,904
620,179
Provisions for liabilities
(1,844)
(1,956)
Net assets
648,060
618,223
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
648,058
618,221
Total equity
648,060
618,223
HCS SAFETY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2021
31 December 2021
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 13 September 2022 and are signed on its behalf by:
Mr I L Ball
Mrs Z A Drew
Director
Director
Company Registration No. 05989557
HCS SAFETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
1
Accounting policies
Company information

HCS Safety Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Point House, 321 Millbrook Road West, Southampton, Hampshire, England, SO15 0HW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% on cost
Plant and equipment
25% on reducing balance
Fixtures and fittings
33% on cost
Computers
33% on cost
Motor vehicles
25% on reducing balance
HCS SAFETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets. A provision is made for any impairment loss and taken to the profit and loss account.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company only enters into Basic financial instrument transactions.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

HCS SAFETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax assessments.

 

Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

HCS SAFETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
20
23
4
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2021
95,249
85,907
29,165
26,274
45,548
282,143
Additions
500
8,879
703
2,020
-
0
12,102
Disposals
-
0
-
0
(433)
(629)
-
0
(1,062)
At 31 December 2021
95,749
94,786
29,435
27,665
45,548
293,183
Depreciation and impairment
At 1 January 2021
48,385
64,806
28,403
22,949
27,308
191,851
Depreciation charged in the year
9,575
7,495
615
2,993
4,560
25,238
Eliminated in respect of disposals
-
0
-
0
(433)
(629)
-
0
(1,062)
At 31 December 2021
57,960
72,301
28,585
25,313
31,868
216,027
Carrying amount
At 31 December 2021
37,789
22,485
850
2,352
13,680
77,156
At 31 December 2020
46,864
21,101
762
3,325
18,240
90,292
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
207,903
231,513
Other debtors
165,835
41,305
373,738
272,818
HCS SAFETY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 7 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
73,557
5,603
Corporation tax
32,473
46,881
Other taxation and social security
34,010
97,800
Other creditors
209,586
49,668
349,626
199,952
2021-12-312021-01-01false13 September 2022CCH SoftwareCCH Accounts Production 2022.200No description of principal activityMr I L BallMrs Z A DrewMr I L Ball059895572021-01-012021-12-31059895572021-12-31059895572020-12-3105989557core:LandBuildingscore:LeasedAssetsHeldAsLessee2021-12-3105989557core:PlantMachinery2021-12-3105989557core:FurnitureFittings2021-12-3105989557core:ComputerEquipment2021-12-3105989557core:MotorVehicles2021-12-3105989557core:LandBuildingscore:LeasedAssetsHeldAsLessee2020-12-3105989557core:PlantMachinery2020-12-3105989557core:FurnitureFittings2020-12-3105989557core:ComputerEquipment2020-12-3105989557core:MotorVehicles2020-12-3105989557core:CurrentFinancialInstrumentscore:WithinOneYear2021-12-3105989557core:CurrentFinancialInstrumentscore:WithinOneYear2020-12-3105989557core:CurrentFinancialInstruments2021-12-3105989557core:CurrentFinancialInstruments2020-12-3105989557core:ShareCapital2021-12-3105989557core:ShareCapital2020-12-3105989557core:RetainedEarningsAccumulatedLosses2021-12-3105989557core:RetainedEarningsAccumulatedLosses2020-12-3105989557bus:CompanySecretaryDirector12021-01-012021-12-3105989557bus:Director12021-01-012021-12-3105989557core:LandBuildingscore:LongLeaseholdAssets2021-01-012021-12-3105989557core:PlantMachinery2021-01-012021-12-3105989557core:FurnitureFittings2021-01-012021-12-3105989557core:ComputerEquipment2021-01-012021-12-3105989557core:MotorVehicles2021-01-012021-12-31059895572020-01-012020-12-3105989557core:LandBuildingscore:LeasedAssetsHeldAsLessee2020-12-3105989557core:PlantMachinery2020-12-3105989557core:FurnitureFittings2020-12-3105989557core:ComputerEquipment2020-12-3105989557core:MotorVehicles2020-12-31059895572020-12-3105989557core:LandBuildingscore:LeasedAssetsHeldAsLessee2021-01-012021-12-3105989557core:WithinOneYear2021-12-3105989557core:WithinOneYear2020-12-3105989557bus:PrivateLimitedCompanyLtd2021-01-012021-12-3105989557bus:SmallCompaniesRegimeForAccounts2021-01-012021-12-3105989557bus:FRS1022021-01-012021-12-3105989557bus:AuditExemptWithAccountantsReport2021-01-012021-12-3105989557bus:Director22021-01-012021-12-3105989557bus:CompanySecretary12021-01-012021-12-3105989557bus:FullAccounts2021-01-012021-12-31xbrli:purexbrli:sharesiso4217:GBP