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Company No: 09441521 (England and Wales)

H S INFRA LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

H S INFRA LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

H S INFRA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2024
H S INFRA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 355,518 365,194
355,518 365,194
Current assets
Stocks 7,404 7,404
Debtors 5 846,493 392,747
Cash at bank and in hand 370,690 57,884
1,224,587 458,035
Creditors: amounts falling due within one year 6 ( 1,054,549) ( 555,367)
Net current assets/(liabilities) 170,038 (97,332)
Total assets less current liabilities 525,556 267,862
Creditors: amounts falling due after more than one year 7 ( 122,470) ( 198,689)
Net assets 403,086 69,173
Capital and reserves
Called-up share capital 8 4 4
Profit and loss account 403,082 69,169
Total shareholders' funds 403,086 69,173

For the financial year ending 31 March 2024 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 H S Infra Limited (registered number: 09441521) were approved and authorised for issue by the Board of Directors on 29 July 2024. They were signed on its behalf by:

S J Hutchinson
Director
H S INFRA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
H S INFRA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
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

H S Infra 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, registered number 09441521. The address of the Company's registered office is Unit 5, The Business Plaza Owen Way, Leominster Enterprise Park, Leominster, England, HR6 0LA .

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Prior year error

In the year ended 31/03/2023, amounts recoverable on contracts where work had been completed but not yet billed was incorrectly calculated and overstated in the accounts. The prior year financial statements have therefore been restated to include the reduction in value of amount recoverable on contracts. There is a reduction in revenue of £115,770 to the profit or loss of the company, therefore increasing trading losses.

In the year ended 31/03/2023, amounts owed to directors was misstated due to expenses incurred personally by directors not being included within the costs of the business and the directors' loan account. The prior year financial statements have been restated to include this increase in amounts owed to directors. The result is an increase in expense costs of £10,631 to the profit or loss of the company.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
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 financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 4 years straight line
Vehicles 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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.

Ordinary share capital

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Prior year adjustment

There have been prior year adjustments made to:
Amounts recoverable on contracts
Amounts owed to directors

As previously reported Adjustment As restated
Year ended 31 March 2023 £ £ £
Amounts recoverable on contracts 156,111 (115,769) 40,342
Amounts owed to directors 3,455 10,631 14,086

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 17

4. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 300,271 30,315 160,194 84,875 575,655
Additions 0 0 20,863 11,218 32,081
Disposals 0 0 0 ( 16,666) ( 16,666)
At 31 March 2024 300,271 30,315 181,057 79,427 591,070
Accumulated depreciation
At 01 April 2023 0 13,505 142,283 54,673 210,461
Charge for the financial year 0 9,741 20,519 11,047 41,307
Disposals 0 0 0 ( 16,216) ( 16,216)
At 31 March 2024 0 23,246 162,802 49,504 235,552
Net book value
At 31 March 2024 300,271 7,069 18,255 29,923 355,518
At 31 March 2023 300,271 16,810 17,911 30,202 365,194

5. Debtors

2024 2023
£ £
Trade debtors 822,396 249,730
Amounts recoverable on contracts 0 40,342
Prepayments 182 9,787
Other debtors 23,915 92,888
846,493 392,747

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 144,858 111,000
Trade creditors 468,481 214,872
Amounts owed to directors 12,564 14,086
Accruals and deferred income 14,328 2,110
Taxation and social security 405,382 211,145
Obligations under finance leases and hire purchase contracts 6,959 0
Other creditors 1,977 2,154
1,054,549 555,367

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 112,032 198,689
Obligations under finance leases and hire purchase contracts 10,438 0
122,470 198,689

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 B Shares ordinary shares of £ 1.00 each 2 2
2 A Shares ordinary shares of £ 1.00 each 2 2
4 4

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to Directors 12,564 14,086

Dividends of £24,000 were paid to the directors during the year.