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Registration number: 08224498

Hyline Security (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Hyline Security (UK) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Hyline Security (UK) Limited

Company Information

Directors

Mr Antony Harold

Mr Frederick Steward

Registered office

Rosalind Franklin House
Fordham Road
Newmarket
Suffolk
CB8 7XN

Accountants

Mrs Victoria Anne Cooper
Red Shoes Accounting Services
Unit 7 E-Space North
181 Wisbech Road
Littleport
Cambridgeshire
CB6 1RA

 

Hyline Security (UK) Limited

(Registration number: 08224498)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

482

2,792

Current assets

 

Debtors

5

362,180

305,698

Cash at bank and in hand

 

7,166

6,555

 

369,346

312,253

Creditors: Amounts falling due within one year

6

(313,031)

(312,296)

Net current assets/(liabilities)

 

56,315

(43)

Total assets less current liabilities

 

56,797

2,749

Provisions for liabilities

(92)

(532)

Net assets

 

56,705

2,217

Capital and reserves

 

Called up share capital

7

210

210

Retained earnings

56,495

2,007

Shareholders' funds

 

56,705

2,217

For the financial year ending 31 March 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 31 August 2023 and signed on its behalf by:
 

 

Hyline Security (UK) Limited

(Registration number: 08224498)
Balance Sheet as at 31 March 2023

.........................................
Mr Antony Harold
Director

.........................................
Mr Frederick Steward
Director

 

Hyline Security (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Rosalind Franklin House
Fordham Road
Newmarket
Suffolk
CB8 7XN

These financial statements were authorised for issue by the Board on 31 August 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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Hyline Security (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Computer equipment

33% straight line

Motor vehicles

33% straight line

Fixtures and fittings

15% reducing balance

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.

 

Hyline Security (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2022 - 32).

 

Hyline Security (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

17,866

56,630

74,496

Disposals

-

(14,700)

(14,700)

At 31 March 2023

17,866

41,930

59,796

Depreciation

At 1 April 2022

16,290

55,414

71,704

Charge for the year

1,094

1,216

2,310

Eliminated on disposal

-

(14,700)

(14,700)

At 31 March 2023

17,384

41,930

59,314

Carrying amount

At 31 March 2023

482

-

482

At 31 March 2022

1,576

1,216

2,792

5

Debtors

Current

2023
£

2022
£

Trade debtors

199,396

171,936

Other debtors

162,784

133,762

 

362,180

305,698

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

38,440

31,265

Taxation and social security

151,033

135,943

Accruals and deferred income

1,600

1,600

Other creditors

121,958

143,488

313,031

312,296

 

Hyline Security (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

210

210

210

210

         

8

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of 876.00 (2022 - 769.00) per each Ordinary share

 

184,000

 

161,500

         

9

Related party transactions

 

Hyline Security (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Transactions with directors

2023

At 1 April 2022
£

Repayments by director
£

At 31 March 2023
£

Mr Antony Harold

Directors Loan

(31,858)

(24,337)

(56,195)

       
     

Mr Frederick Steward

Directors Loan

(58,858)

2,663

(56,195)

       
     

 

2022

At 1 April 2021
£

Repayments by director
£

At 31 March 2022
£

Mr Antony Harold

Directors Loan

(60,759)

28,901

(31,858)

       
     

Mr Frederick Steward

Directors Loan

(60,759)

1,901

(58,858)

       
     

 

 

Hyline Security (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

24,000

24,000