1 June 2023 v2024.40.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP066052542023-06-012024-05-31066052542024-05-31066052542023-05-3106605254core:WithinOneYear2024-05-3106605254core:WithinOneYear2023-05-3106605254core:AfterOneYear2024-05-3106605254core:AfterOneYear2023-05-3106605254core:ShareCapital2024-05-3106605254core:ShareCapital2023-05-3106605254core:RetainedEarningsAccumulatedLosses2024-05-3106605254core:RetainedEarningsAccumulatedLosses2023-05-3106605254bus:Director12023-06-012024-05-3106605254bus:Director22023-06-012024-05-3106605254bus:RegisteredOffice2023-06-012024-05-3106605254core:PlantMachinery2023-06-012024-05-3106605254core:OfficeEquipment2023-06-012024-05-3106605254core:MotorVehicles2023-06-012024-05-3106605254core:FurnitureFittings2023-06-012024-05-31066052542022-06-012023-05-3106605254core:LandBuildings2023-06-0106605254core:PlantMachinery2023-06-01066052542023-06-0106605254core:LandBuildings2023-06-012024-05-3106605254core:LandBuildings2024-05-3106605254core:PlantMachinery2024-05-3106605254core:LandBuildings2023-05-3106605254core:PlantMachinery2023-05-3106605254core:CostValuation2023-06-0106605254core:AdditionsToInvestments2024-05-3106605254core:DisposalsRepaymentsInvestments2024-05-3106605254core:CostValuation2024-05-310660525412023-06-012024-05-3106605254countries:EnglandWales2023-06-012024-05-3106605254bus:AuditExemptWithAccountantsReport2023-06-012024-05-3106605254bus:PrivateLimitedCompanyLtd2023-06-012024-05-3106605254bus:SmallEntities2023-06-012024-05-3106605254bus:FullAccounts2023-06-012024-05-31
Company registration number:
06605254
Hsl Construction Limited
Unaudited Filleted Financial Statements for the year ended
31 May 2024
Hsl Construction Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Hsl Construction Limited
Year ended
31 May 2024
As described on the statement of financial position, the Board of Directors of
Hsl Construction Limited
are responsible for the preparation of the
financial statements
for the year ended
31 May 2024
, which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
AHBS Limited
Naylor House
Mundy Street
ILKESTON
Derbyshire
DE7 8DH
United Kingdom
Date:
24 June 2024
Hsl Construction Limited
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 5
468,484
 
327,923
 
Investments 6
66,209
 
224,732
 
534,693
 
552,655
 
Current assets    
Stocks
49,221
 
37,641
 
Debtors 7
550,521
 
408,390
 
Cash at bank and in hand
104,406
 
60,641
 
704,148
 
506,672
 
Creditors: amounts falling due within one year 8
(161,640
)
(203,432
)
Net current assets
542,508
 
303,240
 
Total assets less current liabilities 1,077,201   855,895  
Creditors: amounts falling due after more than one year 9
(294,859
)
(299,960
)
Net assets
782,342
 
555,935
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
782,242
 
555,835
 
Shareholders funds
782,342
 
555,935
 
For the year ending
31 May 2024
, 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
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
27 August 2024
, and are signed on behalf of the board by:
Mr S Kitchen
Mr L Reynolds
DirectorDirector
Company registration number:
06605254
Hsl Construction Limited
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 2 11 High Holborn Road
,
Codnor Gate Business Park
,
Ripley
,
Derbyshire
,
DE5 3NW
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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 measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
10% reducing balance
Office equipment
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures and fittings
25% reducing balance

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
37
(2023:
37.00
).

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost or valuation      
At
1 June 2023
70,647
 
543,445
 
614,092
 
Additions -  
296,549
 
296,549
 
Disposals -  
(114,950
)
(114,950
)
Revaluations
(17,662
) -  
(17,662
)
At
31 May 2024
52,985
 
725,044
 
778,029
 
Depreciation      
At
1 June 2023
-  
286,169
 
286,169
 
Charge -  
64,324
 
64,324
 
Disposals -  
(40,948
)
(40,948
)
At
31 May 2024
-  
309,545
 
309,545
 
Carrying amount      
At
31 May 2024
52,985
 
415,499
 
468,484
 
At 31 May 2023
70,647
 
257,276
 
327,923
 

6 Investments

Loans to group undertakings and participating interests
£
Cost  
At
1 June 2023
224,732
 
Additions
49,500
 
Disposals
(208,023
)
At
31 May 2024
66,209
 
Impairment  
At
1 June 2023
and
31 May 2024
-  
Carrying amount  
At
31 May 2024
66,209
 
At 31 May 2023
224,732
 

7 Debtors

20242023
££
Trade debtors
509,177
 
393,786
 
Other debtors
41,344
 
14,604
 
550,521
 
408,390
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
47,406
 
96,288
 
Taxation and social security
96,548
 
62,423
 
Other creditors
17,686
 
44,721
 
161,640
 
203,432
 

9 Creditors: amounts falling due after more than one year

20242023
££
Other creditors
294,859
 
299,960