Company Registration No. 4959879 (England and Wales)
H S B E LTD
Annual report and unaudited accounts
for the year ended 30 November 2023
H S B E LTD
Annual report and unaudited accounts
Contents
H S B E LTD
Company Information
for the year ended 30 November 2023
Directors
Ross Kemp-Harper
David Smith
Company Number
4959879 (England and Wales)
Registered Office
Unit 110 Lakes Innovation Centre
Lakes Road
Braintree
Essex
CM7 3AN
Accountants
Keywhites Limited
26 Grisedale Gardens
Purley
Surrey
CR8 1EN
H S B E LTD
Statement of financial position
as at 30 November 2023
Tangible assets
6,678
8,903
Inventories
1,684,035
1,501,061
Cash at bank and in hand
13,553
5,848
Creditors: amounts falling due within one year
(1,482,524)
(1,374,346)
Net current assets
590,357
514,895
Total assets less current liabilities
597,035
523,798
Creditors: amounts falling due after more than one year
(177,008)
(234,416)
Provisions for liabilities
Deferred tax
(1,670)
(1,692)
Net assets
418,357
287,690
Called up share capital
1,000
1,000
Profit and loss account
417,357
286,690
Shareholders' funds
418,357
287,690
For the year ending 30 November 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 August 2024 and were signed on its behalf by
Ross Kemp-Harper
Director
Company Registration No. 4959879
H S B E LTD
Notes to the Accounts
for the year ended 30 November 2023
H S B E LTD is a private company, limited by shares, registered in England and Wales, registration number 4959879. The registered office is Unit 110 Lakes Innovation Centre, Lakes Road, Braintree, Essex, CM7 3AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
H S B E LTD
Notes to the Accounts
for the year ended 30 November 2023
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 December 2022
18,929
6,615
25,544
At 30 November 2023
18,929
6,615
25,544
At 1 December 2022
13,747
2,894
16,641
Charge for the year
1,295
930
2,225
At 30 November 2023
15,042
3,824
18,866
At 30 November 2023
3,887
2,791
6,678
At 30 November 2022
5,182
3,721
8,903
Finished goods
1,684,035
1,501,061
Amounts falling due within one year
Trade debtors
97,814
107,681
Other debtors
277,479
274,651
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
75,904
75,401
Trade creditors
992,503
976,948
Taxes and social security
72,435
22,877
Other creditors
341,682
299,120
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Creditors: amounts falling due after more than one year
2023
2022
Bank loans
177,008
234,416
H S B E LTD
Notes to the Accounts
for the year ended 30 November 2023
9
Deferred taxation
2023
2022
Accelerated capital allowances
1,670
1,692
Provision at start of year
1,692
1,494
(Credited)/charged to the profit and loss account
(22)
198
Provision at end of year
1,670
1,692
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
11
Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
20,679
8,280
Later than one year and not later than five years
15,794
11,653
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Average number of employees
During the year the average number of employees was 13 (2022: 14).