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REGISTERED NUMBER: 06737884 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

HSM GLOBAL LIMITED

HSM GLOBAL LIMITED (REGISTERED NUMBER: 06737884)






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




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


HSM GLOBAL LIMITED (REGISTERED NUMBER: 06737884)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,161,899 842,796

CURRENT ASSETS
Debtors 5 2,122,015 1,945,616
Cash at bank and in hand 735,041 731,501
2,857,056 2,677,117
CREDITORS
Amounts falling due within one year 6 955,826 1,468,314
NET CURRENT ASSETS 1,901,230 1,208,803
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,063,129

2,051,599

PROVISIONS FOR LIABILITIES 275,850 157,598
NET ASSETS 2,787,279 1,894,001

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 2,787,276 1,893,998
SHAREHOLDERS' FUNDS 2,787,279 1,894,001

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 director acknowledges his 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.

HSM GLOBAL LIMITED (REGISTERED NUMBER: 06737884)

STATEMENT OF FINANCIAL POSITION - 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 November 2023 and were signed by:





H S Masih - Director


HSM GLOBAL LIMITED (REGISTERED NUMBER: 06737884)

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

1. STATUTORY INFORMATION

HSM Global Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06737884

Registered office: Chancery House
3 Hatchlands Road
Redhill
RH1 6AA

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


All amounts in the financial statements have been rounded to the nearest £.

2. ACCOUNTING POLICIES

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

The director has considered the company's financial operating requirements for the forthcoming year and expects the company to have sufficient cash reserves to meet those requirements, and as a result has adopted the going concern basis of accounting.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 20% on cost or reducing balance

Financial instruments
Basic financial assets, which include trade debtors, other debtors, cash and bank balances, are initially measured at the transaction price including transaction costs and are subsequently recognised at amortised cost.

Basic financial liabilities, including trade creditors, other creditors and loans advanced from directors, are initially recognised at transaction price and are subsequently recognised at amortised cost.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation
Taxation for the year comprises current and deferred tax. 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 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 statement of financial position date.

HSM GLOBAL LIMITED (REGISTERED NUMBER: 06737884)

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

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary costs of the future holiday entitlement accrued at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 1,186,089
Additions 599,022
Disposals (56,127 )
At 31 March 2023 1,728,984
DEPRECIATION
At 1 April 2022 343,293
Charge for year 266,295
Eliminated on disposal (42,503 )
At 31 March 2023 567,085
NET BOOK VALUE
At 31 March 2023 1,161,899
At 31 March 2022 842,796

HSM GLOBAL LIMITED (REGISTERED NUMBER: 06737884)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,249,235 762,990
Amounts owed by group undertakings 170,483 139,018
Other debtors 702,297 1,043,608
2,122,015 1,945,616

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 846,808 1,353,980
Taxation and social security 65,855 3,321
Other creditors 43,163 111,013
955,826 1,468,314

7. LEASING AGREEMENTS
At 31 March 2023 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £106,250 (2022: £Nil).

8. RELATED PARTY DISCLOSURES

The company owes an amount of £nil (2022: £21,689) to the director. Interest is being charged at a rate of 10%.

9. PARENT COMPANY

The ultimate controlling party is HSM Global Holdings Limited.