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REGISTERED NUMBER: SC518233 (Scotland)















Financial Statements for the Year Ended 31 October 2023

for

HKD SOLUTIONS LTD

HKD SOLUTIONS LTD (REGISTERED NUMBER: SC518233)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


HKD SOLUTIONS LTD (REGISTERED NUMBER: SC518233)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 4 9,776 4,147

Current assets
Stocks 133,287 101,489
Debtors 5 101,264 45,992
Cash at bank 17,654 1,311
252,205 148,792
Creditors
Amounts falling due within one year 6 (122,989 ) (134,256 )
Net current assets 129,216 14,536
Total assets less current liabilities 138,992 18,683

Creditors
Amounts falling due after more than one
year

7

(15,811

)

(27,358

)
Net assets/(liabilities) 123,181 (8,675 )

Capital and reserves
Called up share capital 8 100 100
Retained earnings 123,081 (8,775 )
Shareholders' funds 123,181 (8,675 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





H Ling - Director


HKD SOLUTIONS LTD (REGISTERED NUMBER: SC518233)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. Statutory information

HKD Solutions Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC518233

Registered office: Unit 3, Elm Court
Cavalry Park
Peebles
Peeblesshire
EH45 9BU

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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable net of VAT and
trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of safety beds is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the date of dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Work in progress
Work in progress has been valued at the lower of cost and estimated selling price less costs to sell where the cost includes a relevant proportion of overheads according to the stage of completion.


HKD SOLUTIONS LTD (REGISTERED NUMBER: SC518233)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


2. Accounting policies - continued
Taxation
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation represents the future taxation consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits.

Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
The company operates money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year.

Hire purchase and leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Bank and cash
Cash at bank and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

3. Employees and directors

The average number of employees during the year was 4 (2022 - 3 ) .

HKD SOLUTIONS LTD (REGISTERED NUMBER: SC518233)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 November 2022 11,773
Additions 7,921
At 31 October 2023 19,694
Depreciation
At 1 November 2022 7,626
Charge for year 2,292
At 31 October 2023 9,918
Net book value
At 31 October 2023 9,776
At 31 October 2022 4,147

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 94,033 45,992
Other debtors 7,231 -
101,264 45,992

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 11,525 20,089
Trade creditors 22,513 26,381
Taxation and social security 26,357 14,016
Other creditors 62,594 73,770
122,989 134,256

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 15,811 27,358

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100