1 false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC388243 2022-12-01 2023-11-30 SC388243 2023-11-30 SC388243 2022-11-30 SC388243 2021-12-01 2022-11-30 SC388243 2022-11-30 SC388243 2021-11-30 SC388243 core:FurnitureFittings 2022-12-01 2023-11-30 SC388243 core:MotorVehicles 2022-12-01 2023-11-30 SC388243 bus:Director1 2022-12-01 2023-11-30 SC388243 core:FurnitureFittings 2022-11-30 SC388243 core:MotorVehicles 2022-11-30 SC388243 core:FurnitureFittings 2023-11-30 SC388243 core:MotorVehicles 2023-11-30 SC388243 core:WithinOneYear 2023-11-30 SC388243 core:WithinOneYear 2022-11-30 SC388243 core:ShareCapital 2023-11-30 SC388243 core:ShareCapital 2022-11-30 SC388243 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC388243 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC388243 core:FurnitureFittings 2022-11-30 SC388243 core:MotorVehicles 2022-11-30 SC388243 bus:SmallEntities 2022-12-01 2023-11-30 SC388243 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC388243 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 SC388243 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC388243 bus:FullAccounts 2022-12-01 2023-11-30 SC388243 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 SC388243 core:FurnitureFittingsToolsEquipment 2022-11-30 SC388243 core:FurnitureFittingsToolsEquipment 2023-11-30 SC388243 core:KeyManagementIndividualGroup1 2022-12-01 2023-11-30 SC388243 core:KeyManagementIndividualGroup1 2023-11-30
COMPANY REGISTRATION NUMBER: SC388243
Element HGR Ltd
Filleted Unaudited Financial Statements
30 November 2023
Element HGR Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
11,422
14,522
Current assets
Debtors
6
154
633
Cash at bank and in hand
313
1,582
----
-------
467
2,215
Creditors: amounts falling due within one year
7
24,395
16,676
--------
--------
Net current liabilities
23,928
14,461
--------
--------
Total assets less current liabilities
( 12,506)
61
--------
----
Net (liabilities)/assets
( 12,506)
61
--------
----
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 12,508)
59
--------
----
Shareholders (deficit)/funds
( 12,506)
61
--------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 August 2024 , and are signed on behalf of the board by:
Ms G Robinson
Director
Company registration number: SC388243
Element HGR Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Gallanach House, Lower Gartally, Drumnadrochit, IV63 6XS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At 30 November 2023 the company has net current liabilities of £23,928 (2022 - £14,461) and the balance sheet is in deficit by £12,506 (2022 - surplus of £61). The directors confirm to continue to support the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Revenue recognition
Turnover represents amounts receivable for consultancy services net of VAT. Revenue is recognised when the company has entitlement to the income in exchange for the provision of consultancy services.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax Current tax is recognised on taxable profit for the current period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax is recognised in respect of all timing differences at the reporting date. deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the intial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of the stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% straight line
Motor vehicles
-
20% reducing balance
Equipment
-
20% straight line
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments, which includes debtors, cash at bank and creditors, are initially recognised at the transaction price. Trade creditors are obligations to pay for good or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. Financial liabilities and equity instrument are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 December 2022
3,929
19,999
5,884
29,812
Disposals
( 923)
( 2,785)
( 3,708)
-------
--------
-------
--------
At 30 November 2023
3,006
19,999
3,099
26,104
-------
--------
-------
--------
Depreciation
At 1 December 2022
3,575
7,413
4,302
15,290
Charge for the year
118
2,517
466
3,101
Disposals
( 923)
( 2,786)
( 3,709)
-------
--------
-------
--------
At 30 November 2023
2,770
9,930
1,982
14,682
-------
--------
-------
--------
Carrying amount
At 30 November 2023
236
10,069
1,117
11,422
-------
--------
-------
--------
At 30 November 2022
354
12,586
1,582
14,522
-------
--------
-------
--------
6. Debtors
2023
2022
£
£
Trade debtors
90
498
Other debtors
64
135
----
----
154
633
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2
( 2)
Other creditors
64
Other creditors
24,329
16,678
--------
--------
24,395
16,676
--------
--------
8. Related party transactions
At 30 November 2023 the company was due two (2022 - two) directors £ 23,249 (2022 - £15,649). These loans are interest free, unsecured and have no definite repayment terms.