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REGISTERED NUMBER: 05556461 (England and Wales)


























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HCA PANELS LIMITED

HCA PANELS LIMITED (REGISTERED NUMBER: 05556461)

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 PANELS 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: 05556461 (England and Wales)






HCA PANELS LIMITED (REGISTERED NUMBER: 05556461)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 12,303 17,518
12,303 17,518

CURRENT ASSETS
Stocks 116,640 64,695
Debtors 7 774,653 974,893
Cash at bank 352,461 283,501
1,243,754 1,323,089
CREDITORS
Amounts falling due within one year 8 908,384 949,631
NET CURRENT ASSETS 335,370 373,458
TOTAL ASSETS LESS CURRENT
LIABILITIES

347,673

390,976

CREDITORS
Amounts falling due after more than one
year

9

(98,485

)

(143,940

)

PROVISIONS FOR LIABILITIES (2,776 ) (4,013 )
NET ASSETS 246,412 243,023

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 246,312 242,923
SHAREHOLDERS' FUNDS 246,412 243,023

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 PANELS LIMITED (REGISTERED NUMBER: 05556461)

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 PANELS LIMITED (REGISTERED NUMBER: 05556461)

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


1. STATUTORY INFORMATION

HCA Panels 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% straight line

All fixed assets are initially recorded at cost.

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.

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.


HCA PANELS LIMITED (REGISTERED NUMBER: 05556461)

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


3. ACCOUNTING POLICIES - continued
Deferred 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
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the income statement. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 April 2022 4,250
Disposals (4,250 )
At 31 March 2023 -
AMORTISATION
At 1 April 2022 4,250
Eliminated on disposal (4,250 )
At 31 March 2023 -
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

HCA PANELS LIMITED (REGISTERED NUMBER: 05556461)

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


6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 216,947 419 - 217,366
Additions - - 1,115 1,115
Disposals (78,381 ) (419 ) - (78,800 )
At 31 March 2023 138,566 - 1,115 139,681
DEPRECIATION
At 1 April 2022 199,510 338 - 199,848
Charge for year 4,359 16 31 4,406
Eliminated on disposal (76,522 ) (354 ) - (76,876 )
At 31 March 2023 127,347 - 31 127,378
NET BOOK VALUE
At 31 March 2023 11,219 - 1,084 12,303
At 31 March 2022 17,437 81 - 17,518

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 324,205 444,601
Amounts owed by group undertakings 423,073 473,126
Other debtors 27,375 57,166
774,653 974,893

Included in other debtors is £NIL (2022: £315) 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
Trade creditors 4,278 1,489
Amounts owed to group undertakings 509,087 520,663
Taxation and social security 51,442 45,464
Other creditors 298,122 336,560
908,384 949,631

Included in other creditors is £10,802 (2022: £77,084) 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

HCA PANELS LIMITED (REGISTERED NUMBER: 05556461)

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


10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 143,940 189,395
Close Invoice Finance Limited 272,320 244,476
416,260 433,871

Close Invoice Finance Limited have a fixed and floating charge dated 27 May 2010 over the company's trade debtors.

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: £    £   
100 Ordinary £1 100 100

12. 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 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.