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Registered number: 12186236
Hitec Demolition UK Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12186236
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,211 21,211
21,211 21,211
CURRENT ASSETS
Debtors 5 240,518 240,518
Cash at bank and in hand 1,018 1,018
241,536 241,536
Creditors: Amounts Falling Due Within One Year 6 (74,876 ) (74,876 )
NET CURRENT ASSETS (LIABILITIES) 166,660 166,660
TOTAL ASSETS LESS CURRENT LIABILITIES 187,871 187,871
Creditors: Amounts Falling Due After More Than One Year 7 (33,802 ) (33,802 )
NET ASSETS 154,069 154,069
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 154,068 154,068
SHAREHOLDERS' FUNDS 154,069 154,069
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Mates
Director
16/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Hitec Demolition UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12186236 . The registered office is 23a Longsight, Harwood, Bolton, BL2 3HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 October 2022 15,769 500 13,129 29,398
As at 30 September 2023 15,769 500 13,129 29,398
Depreciation
As at 1 October 2022 2,429 73 5,685 8,187
As at 30 September 2023 2,429 73 5,685 8,187
Net Book Value
As at 30 September 2023 13,340 427 7,444 21,211
As at 1 October 2022 13,340 427 7,444 21,211
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 123,636 123,636
Other debtors 81,154 81,154
Director's loan account 35,728 35,728
240,518 240,518
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 130,732 130,732
Bank loans and overdrafts 7,806 7,806
Other taxes and social security 3,207 3,207
VAT 193,271 193,271
Accruals and deferred income 7,500 7,500
Amounts owed to group undertakings 33,655 33,655
Amounts owed to subsidiaries (301,295 ) (301,295 )
74,876 74,876
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 33,802 33,802
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 October 2022 Amounts advanced Amounts repaid Amounts written off As at 30 September 2023
£ £ £ £ £
Mr Mark Mates - - - - 35,334
The above loan is unsecured, interest free and repayable on demand.
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