Silverfin false false 31/12/2023 13/01/2023 31/12/2023 J M R Halloran 13/01/2023 J L Smith 13/01/2023 S J Withey 13/01/2023 29 July 2024 The principal activity of the Company during the financial period was the refurbishment of motor vehicles. 14591471 2023-12-31 14591471 bus:Director1 2023-12-31 14591471 bus:Director2 2023-12-31 14591471 bus:Director3 2023-12-31 14591471 core:CurrentFinancialInstruments 2023-12-31 14591471 core:ShareCapital 2023-12-31 14591471 core:RetainedEarningsAccumulatedLosses 2023-12-31 14591471 core:PlantMachinery 2023-01-12 14591471 core:Vehicles 2023-01-12 14591471 core:FurnitureFittings 2023-01-12 14591471 core:OfficeEquipment 2023-01-12 14591471 2023-01-12 14591471 core:PlantMachinery 2023-12-31 14591471 core:Vehicles 2023-12-31 14591471 core:FurnitureFittings 2023-12-31 14591471 core:OfficeEquipment 2023-12-31 14591471 bus:OrdinaryShareClass1 2023-12-31 14591471 2023-01-13 2023-12-31 14591471 bus:FilletedAccounts 2023-01-13 2023-12-31 14591471 bus:SmallEntities 2023-01-13 2023-12-31 14591471 bus:AuditExemptWithAccountantsReport 2023-01-13 2023-12-31 14591471 bus:PrivateLimitedCompanyLtd 2023-01-13 2023-12-31 14591471 bus:Director1 2023-01-13 2023-12-31 14591471 bus:Director2 2023-01-13 2023-12-31 14591471 bus:Director3 2023-01-13 2023-12-31 14591471 core:PlantMachinery core:TopRangeValue 2023-01-13 2023-12-31 14591471 core:Vehicles core:TopRangeValue 2023-01-13 2023-12-31 14591471 core:FurnitureFittings core:TopRangeValue 2023-01-13 2023-12-31 14591471 core:OfficeEquipment core:TopRangeValue 2023-01-13 2023-12-31 14591471 core:PlantMachinery 2023-01-13 2023-12-31 14591471 core:Vehicles 2023-01-13 2023-12-31 14591471 core:FurnitureFittings 2023-01-13 2023-12-31 14591471 core:OfficeEquipment 2023-01-13 2023-12-31 14591471 bus:OrdinaryShareClass1 2023-01-13 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14591471 (England and Wales)

HUDSON KAPEL FLEET SOLUTIONS LTD

Unaudited Financial Statements
For the financial period from 13 January 2023 to 31 December 2023
Pages for filing with the registrar

HUDSON KAPEL FLEET SOLUTIONS LTD

Unaudited Financial Statements

For the financial period from 13 January 2023 to 31 December 2023

Contents

HUDSON KAPEL FLEET SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
HUDSON KAPEL FLEET SOLUTIONS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 31.12.2023
£
Fixed assets
Tangible assets 3 255,245
255,245
Current assets
Debtors 4 1,053,138
Cash at bank and in hand 56,759
1,109,897
Creditors: amounts falling due within one year 5 ( 1,317,173)
Net current liabilities (207,276)
Total assets less current liabilities 47,969
Net assets 47,969
Capital and reserves
Called-up share capital 6 111,250
Profit and loss account ( 63,281 )
Total shareholders' funds 47,969

For the financial period ending 31 December 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 Hudson Kapel Fleet Solutions Ltd (registered number: 14591471) were approved and authorised for issue by the Board of Directors on 29 July 2024. They were signed on its behalf by:

J M R Halloran
Director
HUDSON KAPEL FLEET SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 13 January 2023 to 31 December 2023
HUDSON KAPEL FLEET SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 13 January 2023 to 31 December 2023
1. Accounting policies

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

General information and basis of accounting

Hudson Kapel Fleet Solutions Ltd (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 One Eleven, Edmund Street, Birmingham, B3 2HJ, England, 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

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.

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.

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:

Plant and machinery 4 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 3 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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.

Ordinary share capital

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

2. Employees

Period from
13.01.2023 to
31.12.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 22

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 13 January 2023 0 0 0 0 0
Additions 162,223 20,000 50,619 54,924 287,766
At 31 December 2023 162,223 20,000 50,619 54,924 287,766
Accumulated depreciation
At 13 January 2023 0 0 0 0 0
Charge for the financial period 20,613 2,000 2,902 7,006 32,521
At 31 December 2023 20,613 2,000 2,902 7,006 32,521
Net book value
At 31 December 2023 141,610 18,000 47,717 47,918 255,245

4. Debtors

31.12.2023
£
Trade debtors 350,377
Prepayments 423,291
Other debtors 279,470
1,053,138

5. Creditors: amounts falling due within one year

31.12.2023
£
Trade creditors 325,831
Amounts owed to directors 753,320
Accruals 130,254
Other taxation and social security 102,063
Other creditors 5,705
1,317,173

6. Called-up share capital

31.12.2023
£
Allotted, called-up and fully-paid
111,250 Ordinary shares of £ 1.00 each 111,250

On incorporation of the company on 13 January 2023, 1,000 £1 ordinary shares were issued at par. A further 110,250 £1 ordinary shares were allotted on 10 May 2023, which were paid for at no premium.

7. Related party transactions

Transactions with the entity's directors

31.12.2023
£
Amounts owed to directors 753,320

At the end of the period, the directors were owed £753,320. No interest has been charged and there are no fixed dates for repayment.

The directors have fixed and floating charges over the company's assets.

8. Operating lease commitments

31.12.2023
£
79,936

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases as shown above.