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Registration number: 00871004

Hesselberg Hydro (1991) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Hesselberg Hydro (1991) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Hesselberg Hydro (1991) Limited

Company Information

Directors

Mr RC Smith

Mrs Liza Smith

Company secretary

Mr RC Smith

Registered office

C/o Cannons Accountants
Unit 1A, Park Farm Road
Folkestone
Kent
CT19 5EY

Accountants

Cannons
Chartered Certified Accountants
Unit 1A
Park Farm Road
Folkestone
Kent
CT19 5EY

 

Hesselberg Hydro (1991) Limited

(Registration number: 00871004)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

18,285

Current assets

 

Debtors

5

23,681

242,903

Cash at bank and in hand

 

50,471

964,146

 

74,152

1,207,049

Creditors: Amounts falling due within one year

6

(74,051)

(548,534)

Net current assets

 

101

658,515

Net assets

 

101

676,800

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

1

676,700

Shareholders' funds

 

101

676,800

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 September 2023 and signed on its behalf by:
 

.........................................
Mr RC Smith
Company secretary and director

 

Hesselberg Hydro (1991) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/o Cannons Accountants
Unit 1A, Park Farm Road
Folkestone
Kent
CT19 5EY
United Kingdom

The principal place of business is:
Wood Lodge
Brady Road
Lyminge
Folkestone
Kent
CT18 8HA
England

These financial statements were authorised for issue by the Board on 12 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hesselberg Hydro (1991) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machiney

12.5% on cost

Motor vehicles

25% reducing balance

Computer equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Hesselberg Hydro (1991) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Hesselberg Hydro (1991) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

70,419

45,258

115,677

Disposals

(70,419)

(45,258)

(115,677)

At 30 June 2023

-

-

-

Depreciation

At 1 July 2022

62,326

35,066

97,392

Eliminated on disposal

(62,326)

(35,066)

(97,392)

At 30 June 2023

-

-

-

Carrying amount

At 30 June 2023

-

-

-

At 30 June 2022

8,093

10,192

18,285

5

Debtors

Current

2023
£

2022
£

Trade debtors

5,166

242,903

Other debtors

18,515

-

 

23,681

242,903

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

7,858

165,412

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

63,437

229,144

Taxation and social security

 

358

90,041

Accruals and deferred income

 

2,400

2,310

Other creditors

 

(2)

61,627

 

74,051

548,534

 

Hesselberg Hydro (1991) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £5,794.82 (2022 - £Nil) per each Ordinary shares

 

579,482

 

-

         

9

Related party transactions

Transactions with directors

2023

At 1 July 2022
£

Advances to director
£

At 30 June 2023
£

Mr RC Smith

1,909

(1,909)

-

       
     

 

2022

At 1 July 2021
£

Repayments by director
£

At 30 June 2022
£

Mr RC Smith

-

1,909

1,909

       
     

 

Summary of transactions with parent

Hydrophalt (UK) Limited
 During the year a management charge of £150,000 was paid by the company to the parent company (2022 - £100,000).
At the balance sheet date the amount due to Hydrophalt (UK) Limited was £63,437 (2021 - £229,143).

 

Expenditure with and payables to related parties

2023

Parent
£

Rendering of services

150,000

 

Hesselberg Hydro (1991) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

2022

Parent
£

Rendering of services

100,000

Loans from related parties

2023

Parent
£

Total
£

At start of period

229,143

229,143

Advanced

729,482

729,482

Repaid

(895,189)

(895,189)

At end of period

63,436

63,436

2022

Parent
£

Total
£

At start of period

946,765

946,765

Advanced

100,000

100,000

Repaid

(817,622)

(817,622)

At end of period

229,143

229,143