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Registered Number: 07746838
England and Wales

 

 

 

HDS MANAGEMENT LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Directors D P HILTON
R O'CONNELL
Registered Number 07746838
Registered Office Port Of Tilbury
Tilbury Docks
Tilbury
Essex
RM18 7JN
Accountants Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
RM14 2AP
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 December 2023
Principal activities
The company's principal activity during the year was the sale of Other business support service activities not elsewhere classified
Directors
The directors who served the company throughout the year were as follows:
D P HILTON
R O'CONNELL
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
D P HILTON
Director

Date approved: 08 August 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Versa Tax Solutions Ltd
31 December 2023



....................................................

Versa Tax Solutions Ltd

9 Corbets Tey Road
Upminster
RM14 2AP
08 August 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover 342,678    341,986 
Gross profit 342,678    341,986 
Administrative expenses (343,151)   (314,984)
Other operating income   (7,464)
Operating profit/(loss) (473)   19,538 
Interest payable and similar charges (760)   (1,009)
Profit/(Loss) on ordinary activities before taxation (1,233)   18,529 
Tax on profit on ordinary activities (1,496)   (5,808)
Profit/(Loss) for the financial year (2,729)   12,721 
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 12,755    14,123 
12,755    14,123 
Current assets      
Debtors 4 748,775    629,299 
Cash at bank and in hand 2,895    1,522 
751,670    630,821 
Creditors: amount falling due within one year 5 (741,986)   (609,775)
Net current assets 9,684    21,046 
 
Total assets less current liabilities 22,439    35,169 
Creditors: amount falling due after more than one year 6 (25,000)   (35,000)
Net assets (2,561)   169 
 

Capital and reserves
     
Called up share capital 300    300 
Capital Redemption Reserve 7 150    150 
Profit and loss account (3,011)   (281)
Shareholders' funds (2,561)   169 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 08 August 2024 and were signed on its behalf by:


-------------------------------
D P HILTON
Director
5
  Equity share capital   Capital redemption reserve   Retained Earnings   Total
£ £ £ £
At 01 January 2022 300  150  5,748  6,198 
Profit for the year 12,721  12,721 
Total comprehensive income for the year 12,721  12,721 
Dividends (18,750) (18,750)
Total investments by and distributions to owners (18,750) (18,750)
At 31 December 2022 300  150  (281) 169 
At 01 January 2023 300  150  (282) 168 
Profit for the year (2,729) (2,729)
Total comprehensive income for the year (2,729) (2,729)
Total investments by and distributions to owners
At 31 December 2023 300  150  (3,011) (2,561)
6
General Information
Hds Management Ltd. is a private company, limited by shares, registered in England and Wales, registration number 07746838, registration address Port Of Tilbury, Tilbury Docks, Tilbury, Essex, RM18 7JN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 33% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 33% Straight Line
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2023 13,000    9,002    14,055    36,057 
Additions 7,194      545    7,739 
Disposals      
At 31 December 2023 20,194    9,002    14,600    43,796 
Depreciation
At 01 January 2023 5,363    6,380    10,191    21,934 
Charge for year 5,378    1,800    1,929    9,107 
On disposals      
At 31 December 2023 10,741    8,180    12,120    31,041 
Net book values
Closing balance as at 31 December 2023 9,453    822    2,480    12,755 
Opening balance as at 01 January 2023 7,637    2,622    3,864    14,123 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Amount Owed by Group Undertakings 674,379    564,590 
Prepayments & Accrued Income 10,137    450 
Other Debtors 64,259    64,259 
748,775    629,299 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 10,980    3,231 
Amounts Owed to Group Undertakings 713,520    546,827 
Corporation Tax 1,496    5,796 
PAYE & Social Security 3,264    6,678 
Wages & Salaries Control Account 5,654    9,315 
Directors' Current Accounts 1,775    32,775 
VAT 5,297    5,153 
741,986    609,775 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 25,000    35,000 
25,000    35,000 

7.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd 150    150 
150    150 

8.

Director’s loan

Director Current Account

At the year end, the company owed £ 1,775 (2022: £32775.35) to the director in respect of a directors loan.
The loan is provided interest free and repayable upon demand
7