5 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 9,653 5,769 15,422 6,125 3,736 9,861 5,561 3,528 207,254 207,254 207,254 xbrli:pure xbrli:shares iso4217:GBP 10597570 2022-03-01 2023-02-28 10597570 2023-02-28 10597570 2022-02-28 10597570 2021-03-01 2022-02-28 10597570 2022-02-28 10597570 core:PlantMachinery 2022-03-01 2023-02-28 10597570 bus:Director1 2022-03-01 2023-02-28 10597570 core:PlantMachinery 2022-02-28 10597570 core:PlantMachinery 2023-02-28 10597570 core:WithinOneYear 2023-02-28 10597570 core:WithinOneYear 2022-02-28 10597570 core:AfterOneYear 2023-02-28 10597570 core:AfterOneYear 2022-02-28 10597570 core:ShareCapital 2023-02-28 10597570 core:ShareCapital 2022-02-28 10597570 core:RetainedEarningsAccumulatedLosses 2023-02-28 10597570 core:RetainedEarningsAccumulatedLosses 2022-02-28 10597570 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 10597570 core:Non-currentFinancialInstruments 2023-02-28 10597570 core:Non-currentFinancialInstruments 2022-02-28 10597570 core:PlantMachinery 2022-02-28 10597570 bus:SmallEntities 2022-03-01 2023-02-28 10597570 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 10597570 bus:FullAccounts 2022-03-01 2023-02-28 10597570 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 10597570 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 10597570
HIDCOT LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
HIDCOT LTD
STATEMENT OF FINANCIAL POSITION
28 February 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
5,561
3,528
Investments
6
207,254
207,254
-----------
-----------
212,815
210,782
Current assets
Debtors
7
25,166
1,920
Cash at bank and in hand
64,184
19,193
---------
---------
89,350
21,113
Creditors: amounts falling due within one year
8
51,854
133,047
---------
-----------
Net current assets/(liabilities)
37,496
( 111,934)
-----------
-----------
Total assets less current liabilities
250,311
98,848
Creditors: amounts falling due after more than one year
9
49,752
55,891
-----------
---------
Net assets
200,559
42,957
-----------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
200,558
42,956
-----------
---------
Shareholders funds
200,559
42,957
-----------
---------
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 income and retained earnings has not been delivered.
HIDCOT LTD
STATEMENT OF FINANCIAL POSITION (continued)
28 February 2023
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Mr E M Jones
Director
Company registration number: 10597570
HIDCOT LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 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 Beaconside Business Village, Stafford Enterprise Park, Weston Road, Stafford, ST18 0BF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
Equipment
-
33% straight line
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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 as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 2 ).
5. Tangible assets
Plant and machinery
£
Cost
At 1 March 2022
9,653
Additions
5,769
---------
At 28 February 2023
15,422
---------
Depreciation
At 1 March 2022
6,125
Charge for the year
3,736
---------
At 28 February 2023
9,861
---------
Carrying amount
At 28 February 2023
5,561
---------
At 28 February 2022
3,528
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 March 2022 and 28 February 2023
207,254
-----------
Impairment
At 1 March 2022 and 28 February 2023
-----------
Carrying amount
At 28 February 2023
207,254
-----------
At 28 February 2022
207,254
-----------
7. Debtors
2023
2022
£
£
Trade debtors
25,166
1,920
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,320
8,105
Social security and other taxes
40,338
2,210
Other creditors
3,196
122,732
---------
-----------
51,854
133,047
---------
-----------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
49,752
55,891
---------
---------