Silverfin false 31/05/2023 01/06/2022 31/05/2023 Mr B H Holmes 25/05/2017 Mrs C J Holmes 20 February 2024 Historically, the principal activity of the Company was that of credit card processors, however, on 1 June 2021 the Company ceased trading. 10789709 2023-05-31 10789709 bus:Director1 2023-05-31 10789709 core:CurrentFinancialInstruments 2023-05-31 10789709 core:CurrentFinancialInstruments 2022-05-31 10789709 2022-05-31 10789709 core:ShareCapital 2023-05-31 10789709 core:ShareCapital 2022-05-31 10789709 core:RetainedEarningsAccumulatedLosses 2023-05-31 10789709 core:RetainedEarningsAccumulatedLosses 2022-05-31 10789709 bus:OrdinaryShareClass1 2023-05-31 10789709 2022-06-01 2023-05-31 10789709 bus:FullAccounts 2022-06-01 2023-05-31 10789709 bus:SmallEntities 2022-06-01 2023-05-31 10789709 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 10789709 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 10789709 bus:Director1 2022-06-01 2023-05-31 10789709 bus:Director2 2022-06-01 2023-05-31 10789709 2021-06-01 2022-05-31 10789709 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 10789709 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10789709 (England and Wales)

HCRT LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

HCRT LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

HCRT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2023
HCRT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2023
2023 2022
£ £
Current assets
Debtors 3 63,149 148,030
Cash at bank and in hand 107,590 74,982
170,739 223,012
Creditors: amounts falling due within one year 4 ( 1,850) ( 1,850)
Net current assets 168,889 221,162
Total assets less current liabilities 168,889 221,162
Net assets 168,889 221,162
Capital and reserves
Called-up share capital 5 2 2
Profit and loss account 168,887 221,160
Total shareholders' funds 168,889 221,162

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of HCRT Limited (registered number: 10789709) were approved and authorised for issue by the Director on 20 February 2024. They were signed on its behalf by:

Mr B H Holmes
Director
HCRT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
HCRT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

HCRT Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Salt Quay House 4 North East Quay, Sutton Harbour, Plymouth, PL4 0BN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

On 1 June 2021, the directors made the decision that the Company would cease trading . As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
VAT recoverable 119 0
Other debtors 63,030 148,030
63,149 148,030

4. Creditors: amounts falling due within one year

2023 2022
£ £
Accruals 1,850 1,850

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

6. Related party transactions

At the year end, the Company was owed £63,030 (2022: £63,030) by a Company controlled by the son of the Company's Shareholder Directors. This balance is included in Other debtors.

At the year end, the Company was owed £nil (2022: £85,000) by a Company that was formerly controlled by the Company's Shareholder Directors. During the year, a deed of waiver was approved, with a balance totalling £53,415 being written off. This balance is included in Other debtors.