Hedkase Limited 08539002 production of bespoke motorcyling helmets false 1 November 2022 08539002 2022-11-01 2023-10-31 08539002 2022-10-31 08539002 2023-10-31 08539002 2021-06-01 2022-10-31 08539002 2021-05-31 08539002 2022-10-31 08539002 frs102-bus:FRS102 2022-11-01 2023-10-31 08539002 frs102-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08539002 frs102-bus:FullAccounts 2022-11-01 2023-10-31 08539002 frs102-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 08539002 frs102-core:CurrentFinancialInstruments 2023-10-31 08539002 frs102-core:CurrentFinancialInstruments 2022-10-31 08539002 frs102-core:Non-currentFinancialInstruments 2023-10-31 08539002 frs102-core:Non-currentFinancialInstruments 2022-10-31 08539002 frs102-core:ShareCapital 2023-10-31 08539002 frs102-core:ShareCapital 2022-10-31 08539002 frs102-core:SharePremium 2023-10-31 08539002 frs102-core:SharePremium 2022-10-31 08539002 frs102-core:RetainedEarningsAccumulatedLosses 2023-10-31 08539002 frs102-core:RetainedEarningsAccumulatedLosses 2022-10-31 08539002 frs102-bus:Director1 2022-11-01 2023-10-31 08539002 frs102-core:ComputerEquipment 2022-11-01 2023-10-31 08539002 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2022-11-01 2023-10-31 08539002 frs102-core:LandBuildings 2022-11-01 2023-10-31 08539002 frs102-core:PlantMachinery 2022-11-01 2023-10-31 08539002 frs102-core:OtherResidualIntangibleAssets 2022-10-31 08539002 frs102-core:OtherResidualIntangibleAssets 2022-11-01 2023-10-31 08539002 frs102-core:OtherResidualIntangibleAssets 2023-10-31 08539002 frs102-core:OtherResidualIntangibleAssets 2022-10-31 08539002 frs102-core:ComputerEquipment 2022-10-31 08539002 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2022-10-31 08539002 frs102-core:LandBuildings 2022-10-31 08539002 frs102-core:PlantMachinery 2022-10-31 08539002 frs102-core:ComputerEquipment 2023-10-31 08539002 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2023-10-31 08539002 frs102-core:LandBuildings 2023-10-31 08539002 frs102-core:PlantMachinery 2023-10-31 08539002 frs102-core:ComputerEquipment 2022-10-31 08539002 frs102-core:Non-standardPPEClass3ComponentTotalPropertyPlantEquipment 2022-10-31 08539002 frs102-core:LandBuildings 2022-10-31 08539002 frs102-core:PlantMachinery 2022-10-31 08539002 frs102-core:Non-currentFinancialInstruments 2022-10-31 08539002 frs102-core:CurrentFinancialInstruments 2022-11-01 2023-10-31 08539002 frs102-bus:OrdinaryShareClass1 2023-10-31 08539002 frs102-bus:OrdinaryShareClass1 2022-10-31 08539002 frs102-bus:OrdinaryShareClass1 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares
Registered number
08539002
Hedkase Limited
Unaudited Accounts
for the year ended
31 October 2023
Hedkase Limited
Balance Sheet
as at 31 October 2023
Notes
2023
£
2022
£
Fixed assets
Intangible assets 3 139,861 133,059
Tangible assets 4 184,282 204,415
Investments 5 4,992 4,992
329,135 342,466
Current assets
Stocks 6 536,572 528,253
Debtors 7 462,315 732,417
Cash at bank and in hand 12,810 105,688
1,011,697 1,366,358
Prepayments and accrued income: 140,782 89,119
Creditors: amounts falling due within one year 8 (1,121,419) (959,913)
Net current assets / (liabilities) 31,060 495,564
Total assets less current liabilities 360,195 838,030
Creditors: amounts falling due after more than one year 9 (449,564) (625,784)
Provisions for liabilities (0) (0)
Accruals and deferred income (23,643) (21,288)
Total net assets (liabilities) (113,012) 190,958
Capital and reserves
Called up share capital 10 204 204
Share premium account 236,996 236,996
Profit and loss account (350,212) (46,242)
Shareholders' funds (113,012) 190,958

Hedkase Limited
Balance Sheet
as at 31 October 2023



These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

...............................

Mr R Flint

Director


Approved by the board on 30 July 2024

Company Number: 08539002 (a Private Company Limited by Shares registered in England and Wales)

Registered Office:

71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
England

Hedkase Limited
Notes to the Accounts
for the year ended 31 October 2023

1. Accounting policies

Basis of preparation of financial statements
These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
Going concern basis
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets depreciation policy
Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.
Computer equipment 33% Straight Line
Fixtures, fittings, tools & equipment 20% Straight Line
Land & buildings 10% Straight Line
Plant & machinery 14% Straight Line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives.
Stocks
Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.
Deferred taxation
Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.
Foreign currencies
Transactions in foreign currencies other than the functional currency of the company are recorded at the rate of exchange on the date the transaction occurred. Monetary assets and liabilities in foreign currencies are translated at the rates prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items measured at historic cost in a foreign currency are recorded at that historic value.
2. Employees
2023 2022
Average number of employees during the period 11 11

3. Intangible fixed assets
Other Total
Cost £ £
At 1 November 2022 293,204 293,204
Additions 46,881 46,881
At 31 October 2023 340,085 340,085
Amortisation
At 1 November 2022 160,145 160,145
Provided during the period 40,079 40,079
At 31 October 2023 200,224 200,224
Net book value
At 31 October 2023 139,861 139,861
At 31 October 2022 133,059 133,059

4. Tangible fixed assets
Computer equipment Fixtures, fittings, tools & equipment Land & buildings Plant & machinery Total
Cost or valuation £ £ £ £ £
At 1 November 2022 16,394 85,444 67,688 231,333 400,859
Additions 654 18,981 0 12,040 31,675
At 31 October 2023 17,048 104,425 67,688 243,373 432,534
Depreciation
At 1 November 2022 14,415 60,204 25,179 96,646 196,444
Charge for the period 1,279 11,510 7,221 31,798 51,808
At 31 October 2023 15,694 71,714 32,400 128,444 248,252
Net book value
At 31 October 2023 1,354 32,711 35,288 114,929 184,282
At 31 October 2022 1,979 25,240 42,509 134,687 204,415

5. Investments
Shares in subsidiary undertakings Total
£ £
Carrying amount at 1 November 2022 4,992 4,992
Carrying amount at 31 October 2023 4,992 4,992

Group undertakings and participating interests

The company owns a wholly owned subsidiary, Hedkase Limited (Xiamen) Technology Co Ltd, registered in China.


6. Stocks
2023 2022
£ £
Work in progress 160,233 144,153
Finished goods 376,339 384,100
536,572 528,253

7. Debtors
2023 2022
£ £
Trade debtors 282,079 655,847
Other debtors 180,236 76,570
462,315 732,417

8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank Loans & Overdrafts 143,452 237,231
Trade creditors 437,185 385,868
Other creditors 540,782 336,814
1,121,419 959,913

Creditors falling due within one year included secured liabilities of £143,452 in Bank Loans & Overdrafts.


9. Creditors: amounts falling due after one year
2023 2022
£ £
Bank Loans & overdrafts 26,538 43,416
Other 423,026 582,368
449,564 625,784

10. Share capital
2023 2022
£ £
Allotted, called up and fully paid:
204 (2022: 204) Ordinary shares of £1.00 each 204 204
204 204

11. Related party disclosures

During the period of accounts a transaction occurred between this company and a related party, EMR Digital Ltd. The relationship between the parties is EMR Digital Ltd is a shareholder. At the balance sheet date the company owed the related party £92,079 (2022 - £92,078).

During the period of accounts a transaction occurred between this company and a related party, Hedkase Limited (Xiamen) Technology Co Ltd. The relationship between the parties is the related party is a subsidiary company.. At the balance sheet date the related party owed the company £26,975 (2022 - £4,180).


Controlling party
The company is controlled by two of the directors Mr R Flint and Ms L Chong who together own 66.67% of the called up share capital.

Commitments, guarantees and contingencies

Notes

In relation to future periods, the company has non-cancellable lease payment commitments in relation to its premises: £44,663.89 within 1 year, £180,000 later than one year and not later than 5 years.

13. Post balance sheet events

49.90% of Hedkase Limited’s shares have been sold to a new shareholder since 31 March 2024. This transaction included issue and allotment of shares. From 31 March 2024 to 30 June 2024 22,943 shares valued at £45.76 each were allotted, resulting in £1,050,000 of equity funding. As at 30 June 2024 Hedkase Limited had positive net assets.