REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 16 SEPTEMBER 2022 TO 31 DECEMBER 2022 |
FOR |
HEAD RUSH TECHNOLOGIES UK LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD 16 SEPTEMBER 2022 TO 31 DECEMBER 2022 |
FOR |
HEAD RUSH TECHNOLOGIES UK LTD |
HEAD RUSH TECHNOLOGIES UK LTD (REGISTERED NUMBER: 14360718) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 SEPTEMBER 2022 TO 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HEAD RUSH TECHNOLOGIES UK LTD |
COMPANY INFORMATION |
FOR THE PERIOD 16 SEPTEMBER 2022 TO 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
5th Floor |
111 Charterhouse Street |
London |
EC1M 6AW |
HEAD RUSH TECHNOLOGIES UK LTD (REGISTERED NUMBER: 14360718) |
BALANCE SHEET |
31 DECEMBER 2022 |
Notes | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 |
HEAD RUSH TECHNOLOGIES UK LTD (REGISTERED NUMBER: 14360718) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 SEPTEMBER 2022 TO 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
Head Rush Technologies UK Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The company has continued financial support as needed from the parent company to provide capital to meet liabilities when they fall due. |
Stocks |
Stock is valued at the lower or cost and net realisable value. |
Cost is calculated using the weighted average cost method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Taxation |
Taxation for the period 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. |
HEAD RUSH TECHNOLOGIES UK LTD (REGISTERED NUMBER: 14360718) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 SEPTEMBER 2022 TO 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
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 period 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 |
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. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Creditors |
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
HEAD RUSH TECHNOLOGIES UK LTD (REGISTERED NUMBER: 14360718) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 SEPTEMBER 2022 TO 31 DECEMBER 2022 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
VAT |
Prepayments and accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
6. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
£ |
Within one year |
Between one and five years |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary | 1 | 100 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | 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 wholly owned subsidiaries within the group. |
HEAD RUSH TECHNOLOGIES UK LTD (REGISTERED NUMBER: 14360718) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 SEPTEMBER 2022 TO 31 DECEMBER 2022 |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Trublue LLC DBA Head Rush Technologies. The Company is a wholly owned subsidiary of TruBlue LLC., a company incorporated in the United States of America. The smallest group in which the results of the Company are consolidated is that headed by TruBlue LLC., with its registered office at 1699 Cherry St., Unit C, Louisville, CO, United States, 80027. |