21 false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2021 - FRS102_2021 4,950 29,348 34,298 4,950 4,950 29,348 4,950 xbrli:pure xbrli:shares iso4217:GBP 11112020 2022-09-01 2023-08-31 11112020 2023-08-31 11112020 2022-08-31 11112020 2021-09-01 2022-08-31 11112020 2022-08-31 11112020 core:LandBuildings core:ShortLeaseholdAssets 2022-09-01 2023-08-31 11112020 core:MotorVehicles 2022-09-01 2023-08-31 11112020 bus:Director1 2022-09-01 2023-08-31 11112020 core:MotorVehicles 2022-08-31 11112020 core:LandBuildings core:ShortLeaseholdAssets 2023-08-31 11112020 core:MotorVehicles 2023-08-31 11112020 core:AfterOneYear 2023-08-31 11112020 core:AfterOneYear 2022-08-31 11112020 core:WithinOneYear 2023-08-31 11112020 core:WithinOneYear 2022-08-31 11112020 core:ShareCapital 2023-08-31 11112020 core:ShareCapital 2022-08-31 11112020 core:OtherReservesSubtotal 2023-08-31 11112020 core:RetainedEarningsAccumulatedLosses 2023-08-31 11112020 core:RetainedEarningsAccumulatedLosses 2022-08-31 11112020 core:MotorVehicles 2022-08-31 11112020 bus:SmallEntities 2022-09-01 2023-08-31 11112020 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 11112020 bus:FullAccounts 2022-09-01 2023-08-31 11112020 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 11112020 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 11112020 core:IntangibleAssetsOtherThanGoodwill 2022-08-31 11112020 core:IntangibleAssetsOtherThanGoodwill 2022-09-01 2023-08-31 11112020 core:IntangibleAssetsOtherThanGoodwill 2023-08-31 11112020 core:OtherPropertyPlantEquipment 2022-08-31 11112020 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 11112020 core:OtherPropertyPlantEquipment 2023-08-31 11112020 1 2022-09-01 2023-08-31
COMPANY REGISTRATION NUMBER: 11112020
HDM WORLDWIDE LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 August 2023
HDM WORLDWIDE LTD
STATEMENT OF FINANCIAL POSITION
31 August 2023
2023
2022
Note
£
£
Fixed Assets
Intangible assets
6
29,348
4,950
Tangible assets
7
97,727
16,583
-----------
---------
127,075
21,533
Current Assets
Stocks
51,642
Debtors
8
408,787
5,982
Cash at bank and in hand
182,089
10,213
-----------
---------
590,876
67,837
Creditors: amounts falling due within one year
9
223,038
16,808
-----------
---------
Net Current Assets
367,838
51,029
-----------
---------
Total Assets Less Current Liabilities
494,913
72,562
Creditors: amounts falling due after more than one year
10
76,504
41,384
-----------
---------
Net Assets
418,409
31,178
-----------
---------
HDM WORLDWIDE LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2023
2023
2022
Note
£
£
Capital and Reserves
Called up share capital
100
100
Other reserves
100,000
Profit and loss account
318,309
31,078
-----------
---------
Shareholders Funds
418,409
31,178
-----------
---------
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.
For the year ending 31 August 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 were approved by the board of directors and authorised for issue on 5 February 2024 , and are signed on behalf of the board by:
D J Rogers
Director
Company registration number: 11112020
HDM WORLDWIDE LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 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 Unit 3, Carmel Park, Saltmarsh Court, Hull, HU4 7DZ, England.
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.
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.
Income 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.
Intangible Assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Other intangibles
-
over 6 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Short leasehold property
-
10% straight line
Motor vehicles
-
20% straight line
Equipment
-
15% -20% Straight Line
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 21 (2022: 8 ).
5. Capital Contribution
During the year the company received a capital contribution of £100,000 in advance of an issue of share capital after the balance sheet date.
6. Intangible Assets
Other intangibles
£
Cost
At 1 September 2022
4,950
Additions
29,348
---------
At 31 August 2023
34,298
---------
Amortisation
Charge for the year
4,950
---------
At 31 August 2023
4,950
---------
Carrying amount
At 31 August 2023
29,348
---------
At 31 August 2022
4,950
---------
7. Tangible Assets
Short leasehold property
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 September 2022
6,083
13,694
19,777
Additions
25,864
52,651
59,798
138,313
Disposals
( 328)
( 39,024)
( 39,352)
---------
---------
---------
-----------
At 31 August 2023
25,864
58,406
34,468
118,738
---------
---------
---------
-----------
Depreciation
At 1 September 2022
1,597
1,597
3,194
Charge for the year
1,525
12,966
3,326
17,817
---------
---------
---------
-----------
At 31 August 2023
1,525
14,563
4,923
21,011
---------
---------
---------
-----------
Carrying amount
At 31 August 2023
24,339
43,843
29,545
97,727
---------
---------
---------
-----------
At 31 August 2022
4,486
12,097
16,583
---------
---------
---------
-----------
8. Debtors
2023
2022
£
£
Trade debtors
7,875
Other debtors
400,912
5,982
-----------
--------
408,787
5,982
-----------
--------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
48,430
4,398
Corporation tax
65,000
Social security and other taxes
27,617
Other creditors
81,991
12,410
-----------
---------
223,038
16,808
-----------
---------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
76,504
41,384
---------
---------
11. Events after the End of the Reporting Period
On 14 December 2023, HDM Worldwide Ltd increased its share capital by £1.7m.