5 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 11692200 2022-04-01 2023-03-31 11692200 2023-03-31 11692200 2022-03-31 11692200 2021-04-01 2022-03-31 11692200 2022-03-31 11692200 bus:Director1 2022-04-01 2023-03-31 11692200 core:FurnitureFittingsToolsEquipment 2022-03-31 11692200 core:FurnitureFittingsToolsEquipment 2023-03-31 11692200 core:MotorVehicles 2023-03-31 11692200 core:WithinOneYear 2023-03-31 11692200 core:WithinOneYear 2022-03-31 11692200 core:AfterOneYear 2023-03-31 11692200 core:AfterOneYear 2022-03-31 11692200 core:ShareCapital 2023-03-31 11692200 core:ShareCapital 2022-03-31 11692200 core:RetainedEarningsAccumulatedLosses 2023-03-31 11692200 core:RetainedEarningsAccumulatedLosses 2022-03-31 11692200 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 11692200 core:MotorVehicles 2022-04-01 2023-03-31 11692200 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 11692200 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 11692200 core:Non-currentFinancialInstruments 2023-03-31 11692200 core:FurnitureFittingsToolsEquipment 2022-03-31 11692200 bus:SmallEntities 2022-04-01 2023-03-31 11692200 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11692200 bus:FullAccounts 2022-04-01 2023-03-31 11692200 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 11692200 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11692200 1 2022-04-01 2023-03-31
Company registration number: 11692200
HLP DISTRIBUTION LIMITED
Trading as HLP Distribution Limited
Unaudited filleted financial statements
31 March 2023
HLP DISTRIBUTION LIMITED
Contents
Statement of financial position
Notes to the financial statements
HLP DISTRIBUTION LIMITED
Statement of financial position
31 March 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 34,477 1,998
Investments 6 15,217 -
_______ _______
49,694 1,998
Current assets
Debtors 170,937 264,525
Cash at bank and in hand 24,105 12,668
_______ _______
195,042 277,193
Creditors: amounts falling due
within one year ( 104,656) ( 109,727)
_______ _______
Net current assets 90,386 167,466
_______ _______
Total assets less current liabilities 140,080 169,464
Creditors: amounts falling due
after more than one year ( 41,184) ( 31,552)
_______ _______
Net assets 98,896 137,912
_______ _______
Capital and reserves
Called up share capital 2,500 2,500
Profit and loss account 96,396 135,412
_______ _______
Shareholders funds 98,896 137,912
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 September 2023 , and are signed on behalf of the board by:
Mr Gurdit Singh Sidhu Mr Sukhwinder Singh
Director Director
Company registration number: 11692200
HLP DISTRIBUTION LIMITED
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is HLP Dsitribution Limited, Highfields, Withy Hill Road, Sutton Coldfield, West Midlands, B75 6JU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to 5 (2022: 6 ).
The aggregate payroll costs incurred during the year were:
Year Period
ended ended
£ £
Wages and salaries 50,255 53,408
Other pension costs 867 405
_______ _______
51,122 53,813
_______ _______
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2022 2,493 - 2,493
Additions 667 37,983 38,650
_______ _______ _______
At 31 March 2023 3,160 37,983 41,143
_______ _______ _______
Depreciation
At 1 April 2022 495 - 495
Charge for the year 474 5,697 6,171
_______ _______ _______
At 31 March 2023 969 5,697 6,666
_______ _______ _______
Carrying amount
At 31 March 2023 2,191 32,286 34,477
_______ _______ _______
At 31 March 2022 1,998 - 1,998
_______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 April 2022 - -
Additions 15,217 15,217
_______ _______
At 31 March 2023 15,217 15,217
_______ _______
Impairment
At 1 April 2022 and 31 March 2023 - -
_______ _______
Carrying amount
At 31 March 2023 15,217 15,217
_______ _______
At 31 March 2022 - -
_______ _______
7. Controlling party
The company is under the control of both directors.