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HEX8 AUTOMOTIVE LIMITED

Registered Number
11786730
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

HEX8 AUTOMOTIVE LIMITED
Company Information
for the year from 1 February 2022 to 31 January 2023

Director

LANE, Matthew James Stephen

Registered Address

Unit 27 Aztec Business Centre
The Queensway
Swansea
SA5 4DJ

Registered Number

11786730 (England and Wales)
HEX8 AUTOMOTIVE LIMITED
Statement of Financial Position
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets513,05211,771
13,05211,771
Current assets
Debtors6447-
Cash at bank and on hand8,1689,127
8,6159,127
Creditors amounts falling due within one year7(13,182)(9,611)
Net current assets (liabilities)(4,567)(484)
Total assets less current liabilities8,48511,287
Creditors amounts falling due after one year8(5,512)(7,150)
Net assets2,9734,137
Capital and reserves
Called up share capital11
Profit and loss account2,9724,136
Shareholders' funds2,9734,137
The financial statements were approved and authorised for issue by the Director on 27 October 2023, and are signed on its behalf by:
LANE, Matthew James Stephen
Director
Registered Company No. 11786730
HEX8 AUTOMOTIVE LIMITED
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Going concern
The company continues to adopt the going concern basis in preparing its financial statements.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 February 2219,069-19,069
Additions3,0001,0094,009
At 31 January 2322,0691,00923,078
Depreciation and impairment
At 01 February 227,298-7,298
Charge for year2,4043242,728
At 31 January 239,70232410,026
Net book value
At 31 January 2312,36768513,052
At 31 January 2211,771-11,771
6.Debtors

2023

2022

££
Trade debtors / trade receivables300-
Other debtors147-
Total447-
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts2,0192,071
Other creditors9,7956,143
Accrued liabilities and deferred income1,3681,397
Total13,1829,611
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts5,5127,150
Total5,5127,150