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COMPANY REGISTRATION NUMBER: 12085467
HLS ACCESS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 July 2023
HLS ACCESS LTD
FINANCIAL STATEMENTS
YEAR ENDED 31st JULY 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
HLS ACCESS LTD
STATEMENT OF FINANCIAL POSITION
31 July 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
95
320
CURRENT ASSETS
Debtors
6
25,640
27,569
Cash at bank and in hand
2,472
---------
---------
25,640
30,041
CREDITORS: amounts falling due within one year
7
22,687
24,503
---------
---------
NET CURRENT ASSETS
2,953
5,538
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
3,048
5,858
CREDITORS: amounts falling due after more than one year
8
3,667
5,667
-------
-------
NET (LIABILITIES)/ASSETS
( 619)
191
-------
-------
CAPITAL AND RESERVES
Called up share capital
9
100
100
Profit and loss account
( 719)
91
----
----
SHAREHOLDERS (DEFICIT)/FUNDS
( 619)
191
----
----
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 31st July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HLS ACCESS LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 19 August 2024 , and are signed on behalf of the board by:
L. Callaghan
Director
Company registration number: 12085467
HLS ACCESS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st JULY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Post Office, 63 Saville Street, North Shields, Tyne and Wear, NE30 1AY.
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. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on the going concern basis. The director considers that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's director, bankers and other lending agents during this time.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Equipment
-
25% straight line
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 are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. TANGIBLE ASSETS
Equipment
£
Cost
At 1st August 2022 and 31st July 2023
900
----
Depreciation
At 1st August 2022
580
Charge for the year
225
----
At 31st July 2023
805
----
Carrying amount
At 31st July 2023
95
----
At 31st July 2022
320
----
6. DEBTORS
2023
2022
£
£
Director's loan account
19,170
20,612
Other debtors
6,470
6,957
---------
---------
25,640
27,569
---------
---------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loan
2,518
2,000
Accruals and deferred income
409
2,119
Corporation tax
19,760
20,384
---------
---------
22,687
24,503
---------
---------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loan
3,667
5,667
-------
-------
9. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
L. Callaghan
20,612
5,677
( 7,119)
19,170
---------
-------
-------
---------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
L. Callaghan
( 111)
51,883
( 31,160)
20,612
----
---------
---------
---------
11. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A smaller entities.