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REGISTERED NUMBER: 11258252 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2022

for

H&E Engineering Limited

H&E Engineering Limited (Registered number: 11258252)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


H&E Engineering Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: Ms D Lyu
Mr J Mouchel
Mr A P Prod'Homme
L Gao





SECRETARY: Reed Smith Corporate Services Limited





REGISTERED OFFICE: The Broadgate Tower Third Floor
20 Primrose Street
London
EC2A 2RS





REGISTERED NUMBER: 11258252 (England and Wales)





ACCOUNTANTS: Wilson & Co
Chartered Certified Accountants
and Registered Auditors
9 St Clare Street
London
EC3N 1LQ

H&E Engineering Limited (Registered number: 11258252)

Statement of Financial Position
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 2,462

CURRENT ASSETS
Debtors 5 274,808 1,904,813
Cash at bank 2,724,652 821,505
2,999,460 2,726,318
CREDITORS
Amounts falling due within one year 6 2,647,370 2,426,716
NET CURRENT ASSETS 352,090 299,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

352,090

302,064

CAPITAL AND RESERVES
Called up share capital 300,000 300,000
Retained earnings 52,090 2,064
352,090 302,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

H&E Engineering Limited (Registered number: 11258252)

Statement of Financial Position - continued
31 December 2022


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:





Mr J Mouchel - Director


H&E Engineering Limited (Registered number: 11258252)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

H&E Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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.

Turnover
The company generates income from its construction contracts.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognized by reference to the stage of completion of the contract activity at the reporting date, measured as the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that they have been agreed with the customer. Where the outcome of the construction contract cannot be estimated reliably, contract revenue is recognised only to the extent of contract costs incurred that it is probable will be recoverable.

Accrued income represents turnover recognised in excess of payments on accounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33.33% on cost
Computer equipment - 33.33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


H&E Engineering Limited (Registered number: 11258252)

Notes to the Financial Statements - continued
for the Year Ended 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2022 8,598 8,715 17,313
Disposals (8,598 ) - (8,598 )
At 31 December 2022 - 8,715 8,715
DEPRECIATION
At 1 January 2022 7,346 7,505 14,851
Charge for year 313 1,210 1,523
Eliminated on disposal (7,659 ) - (7,659 )
At 31 December 2022 - 8,715 8,715
NET BOOK VALUE
At 31 December 2022 - - -
At 31 December 2021 1,252 1,210 2,462

H&E Engineering Limited (Registered number: 11258252)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 811 1,801,609
Amounts owed by group undertakings - 16,189
Other debtors 1,920 -
VAT 122,160 -
Prepayments and accrued income 149,917 87,015
274,808 1,904,813

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors - 1,976,301
Tax 11,863 -
VAT - 446,165
Accrued expenses 2,635,507 4,250
2,647,370 2,426,716

Included in the accrued expenses there is an amount of £1,426,713 (2021: 1,909,497) due to its shareholder China Nuclear Industry Huaxing Construction Co., Ltd, and an amount £1,173,974 (2021: £nil) due to Framatome Limited, a main subcontractor of H&E, the amounts are unsecured, interest free, repayable on demand and have no fixed repayment date.

7. RELATED PARTY DISCLOSURES

At 31 December 2022, an amount of £Nil (2021: £14,222) was due from China Nuclear Industry Huaxing Company, a shareholder. This amount is included in amounts owed by related undertakings falling due within one year.

8. ULTIMATE CONTROLLING PARTY

The company does not have a controlling party.