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Registered Number: 07746863
England and Wales

 

 

 

HDS SECURITIES CONTRACTS LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director R O'CONNELL
Registered Number 07746863
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 director presents his/her/their annual report and the financial statements for the year ended 31 December 2023
Principal activities
The companys principal activity during the year was the sale of  Other business support service activities not elsewhere classified.
Director
The director who served the company throughout the year was as follows:
R O'CONNELL
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director 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 director is 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 director is 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 director is 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 director is 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.

On behalf of the board.


----------------------------------
R O'CONNELL
Director

Date approved: 07 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
07 August 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover 2,600,413    2,913,007 
Gross profit 2,600,413    2,913,007 
Administrative expenses (2,392,276)   (2,663,557)
Operating profit 208,137    249,450 
Interest payable and similar charges (21,942)   (28,094)
Profit/(Loss) on ordinary activities before taxation 186,195    221,356 
Tax on profit on ordinary activities (49,810)   (26,829)
Profit/(Loss) for the financial year 136,385    194,527 
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 48,372    78,619 
48,372    78,619 
Current assets      
Debtors 5 1,062,191    947,056 
Cash at bank and in hand 9,408    5,777 
1,071,599    952,833 
Creditors: amount falling due within one year 6 (923,212)   (922,526)
Net current assets 148,387    30,307 
 
Total assets less current liabilities 196,759    108,926 
Creditors: amount falling due after more than one year 7 (10,756)   (59,308)
Net assets 186,003    49,618 
 

Capital and reserves
     
Called up share capital 8 3,600    3,600 
Capital Redemption Reserve 9 1,800    1,800 
Profit and loss account 180,603    44,218 
Shareholders' funds 186,003    49,618 
 


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.

Director's 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 director acknowledges 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 director on 07 August 2024 and were signed by:


-------------------------------
R O'CONNELL
Director
5
  Equity share capital   Capital redemption reserve   Retained Earnings   Total
£ £ £ £
At 01 January 2022 3,600  1,800  39,691  45,091 
Profit for the year 194,527  194,527 
Total comprehensive income for the year 194,527  194,527 
Dividends (190,000) (190,000)
Total investments by and distributions to owners (190,000) (190,000)
At 31 December 2022 3,600  1,800  44,218  49,618 
At 01 January 2023 3,600  1,800  44,218  49,618 
Profit for the year 136,385  136,385 
Total comprehensive income for the year 136,385  136,385 
Total investments by and distributions to owners
At 31 December 2023 3,600  1,800  180,603  186,003 
6
General Information
HDS Securities Contracts Ltd. is a private company, limited by shares, registered in England and Wales, registration number 07746863, 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.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
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:
Plant and Machinery 33% Reducing Balance
Motor Vehicles 33% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 33% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 55,560    55,560 
Additions  
Disposals  
At 31 December 2023 55,560    55,560 
Amortisation
At 01 January 2023 55,560    55,560 
Charge for year  
On disposals  
At 31 December 2023 55,560    55,560 
Net book values
At 31 December 2023  
At 31 December 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 January 2023 73,250    30,737    6,978    16,179    127,144 
Additions       3,602    3,602 
Disposals        
At 31 December 2023 73,250    30,737    6,978    19,781    130,746 
Depreciation
At 01 January 2023 10,635    18,304    4,888    14,775    48,602 
Charge for year 24,173    7,119    685    1,795    33,772 
On disposals        
At 31 December 2023 34,808    25,423    5,573    16,570    82,374 
Net book values
Closing balance as at 31 December 2023 38,442    5,314    1,405    3,211    48,372 
Opening balance as at 01 January 2023 62,615    12,509    2,090    1,405    78,619 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 38,224    102,802 
Amount Owed by Group Undertakings 785,499    564,651 
Prepayments & Accrued Income 237,468    279,603 
Other Debtors 1,000   
1,062,191    947,056 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 15,424    14,858 
Amounts Owed to Group Undertakings 495,768    424,278 
Corporation Tax 70,159    49,047 
PAYE & Social Security 69,559    80,091 
Accrued Expenses 2,000    2,000 
Other Creditors 45,357    62,679 
Obligations under HP/Financial Leases 11,834    11,834 
Wages & Salaries Control Account 118,814    149,581 
VAT 94,297    128,158 
923,212    922,526 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts   35,000 
Obligations Under HP/Financial Leases 10,756    24,308 
10,756    59,308 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
900 Class A shares of £1.00 each 900    900 
900 Class A shares of £1.00 each 900    900 
1,800    1,800 

9.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd 1,800    1,800 
1,800    1,800 

7