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REGISTERED NUMBER: 04599565 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HCA COATING LIMITED

HCA COATING LIMITED (REGISTERED NUMBER: 04599565)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HCA COATING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr A J Poyser
Mrs T Poyser





SECRETARY: Mrs T Poyser





REGISTERED OFFICE: Kingsgate House
Newbury Road
Andover
Hampshire
SP10 4DU





BUSINESS ADDRESS: Unit 6 Kingsway
Walworth Business Park
Andover
Hampshire
SP10 5LQ





REGISTERED NUMBER: 04599565 (England and Wales)






HCA COATING LIMITED (REGISTERED NUMBER: 04599565)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 72,496 94,987
72,496 94,987

CURRENT ASSETS
Stocks 358,238 210,400
Debtors 7 939,322 905,618
Cash at bank 204,308 202,827
1,501,868 1,318,845
CREDITORS
Amounts falling due within one year 8 1,102,796 993,894
NET CURRENT ASSETS 399,072 324,951
TOTAL ASSETS LESS CURRENT
LIABILITIES

471,568

419,938

CREDITORS
Amounts falling due after more than one
year

9

(98,485

)

(143,940

)

PROVISIONS FOR LIABILITIES (18,936 ) (17,728 )
NET ASSETS 354,147 258,270

CAPITAL AND RESERVES
Called up share capital 11 150 150
Retained earnings 353,997 258,120
SHAREHOLDERS' FUNDS 354,147 258,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HCA COATING LIMITED (REGISTERED NUMBER: 04599565)

BALANCE SHEET - continued
31 MARCH 2023


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

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 5 October 2023 and were signed on its behalf by:





Mr A J Poyser - Director


HCA COATING LIMITED (REGISTERED NUMBER: 04599565)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

HCA Coating Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of services net of VAT provided under contracts to the extent that there is a right to consideration and is recorded at the value of consideration due. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on a reducing balance basis at rates of 20% and 25% per annum and on a straight line basis at the rate of 25% per annum.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Overheads are charged to the income statement as incurred.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


HCA COATING LIMITED (REGISTERED NUMBER: 04599565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. ACCOUNTING POLICIES - continued
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.

Taxation
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

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.

Debt factoring
The gross amount of trade debtors has been shown on the balance sheet within current assets and the corresponding liability in respect of the proceeds received from the factor has been shown within current liabilities.

The interest element of the factor's charges and other factoring costs are recognised as they accrue and are charged to the income statement.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Grants
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2022 - 40 ) .

HCA COATING LIMITED (REGISTERED NUMBER: 04599565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 97,500
AMORTISATION
At 1 April 2022
and 31 March 2023 97,500
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 432,062 93,320 50,487 6,235 582,104
Additions 5,800 1,034 - - 6,834
Disposals (83,493 ) (46,981 ) (4,700 ) (6,235 ) (141,409 )
At 31 March 2023 354,369 47,373 45,787 - 447,529
DEPRECIATION
At 1 April 2022 356,264 81,583 43,041 6,229 487,117
Charge for year 19,073 2,520 1,825 - 23,418
Eliminated on disposal (81,458 ) (43,261 ) (4,554 ) (6,229 ) (135,502 )
At 31 March 2023 293,879 40,842 40,312 - 375,033
NET BOOK VALUE
At 31 March 2023 60,490 6,531 5,475 - 72,496
At 31 March 2022 75,798 11,737 7,446 6 94,987

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 April 2022 19,455
Transfer to ownership (19,455 )
At 31 March 2023 -
DEPRECIATION
At 1 April 2022 13,299
Transfer to ownership (13,299 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 6,156

HCA COATING LIMITED (REGISTERED NUMBER: 04599565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 307,455 276,147
Amounts owed by group undertakings 593,913 554,373
Other debtors 37,954 75,098
939,322 905,618

Included in other debtors is £10,148 (2022: £74,552) in relation to prepayments and accrued income.

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 45,455 45,455
Hire purchase contracts - 343
Trade creditors 445,342 520,062
Amounts owed to group undertakings 149,463 11
Taxation and social security 141,498 115,147
Other creditors 321,038 312,876
1,102,796 993,894

Included in other creditors is £45,033 (2022: £41,934) in relation to accruals and deferred income.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 98,485 143,940

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 143,940 189,395
Close Invoice Finance Limited 245,649 226,884
Hire purchase & finance leases - 343
389,589 416,622

Close Invoice Finance Limited have a fixed and floating charge dated 2 June 2003 over the company's trade debtors.

Hire purchase and finance lease liabilities are secured on the assets acquired.

The bank loan is secured by a fixed and floating charge over all of the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
150 Ordinary £1 150 150

HCA COATING LIMITED (REGISTERED NUMBER: 04599565)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


12. OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £38,338 (2022:£104,495).

This amount is in relation to operating lease commitments which are payable over the next one to three years.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with group companies where any subsidiary that is a party to the transaction is wholly owned within the group or where transactions have been undertaken under normal market conditions.