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REGISTERED NUMBER: 04386579 (England and Wales)






Financial Statements

for the Year Ended 31 December 2023

for

HIGH TECHNOLOGY SOURCES LIMITED

HIGH TECHNOLOGY SOURCES LIMITED (REGISTERED NUMBER: 04386579)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


HIGH TECHNOLOGY SOURCES LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W4S Directors Limited
B D Read





SECRETARY: Cossey Cosec Services Limited





REGISTERED OFFICE: 4th Floor
24 Old Bond Street
London
W1S 4AW





REGISTERED NUMBER: 04386579 (England and Wales)





AUDITORS: Pembroke Briggs Chartered Accountants
Beacon House
South Road
Weybridge
Surrey
KT13 9DZ

HIGH TECHNOLOGY SOURCES LIMITED (REGISTERED NUMBER: 04386579)

Abridged Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,507 -
Tangible assets 5 981,016 379,648
992,523 379,648

CURRENT ASSETS
Stocks 516,046 261,520
Debtors 6 1,223,197 1,951,837
Cash at bank 469,143 232,196
2,208,386 2,445,553
CREDITORS
Amounts falling due within one
year

1,657,792

928,151
NET CURRENT ASSETS 550,594 1,517,402
TOTAL ASSETS LESS
CURRENT LIABILITIES

1,543,117

1,897,050

CREDITORS
Amounts falling due after more
than one year

7

(713,201

)

(252,396

)

PROVISIONS FOR LIABILITIES - (8,787 )
NET ASSETS 829,916 1,635,867

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 829,816 1,635,767
SHAREHOLDERS' FUNDS 829,916 1,635,867

HIGH TECHNOLOGY SOURCES LIMITED (REGISTERED NUMBER: 04386579)

Abridged Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





B D Read - Director


HIGH TECHNOLOGY SOURCES LIMITED (REGISTERED NUMBER: 04386579)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

High Technology Sources Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 25 years or the period of the lease
Plant and machinery etc - Between 3 and 10 years, Between 3 and 20 years and Between 3 and 5 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


HIGH TECHNOLOGY SOURCES LIMITED (REGISTERED NUMBER: 04386579)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

HIGH TECHNOLOGY SOURCES LIMITED (REGISTERED NUMBER: 04386579)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
Additions 11,507
At 31 December 2023 11,507
NET BOOK VALUE

At 31 December 2023 11,507

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 680,163
Additions 693,737
Disposals (39,800 )
At 31 December 2023 1,334,100
DEPRECIATION
At 1 January 2023 300,515
Charge for year 65,384
Eliminated on disposal (12,815 )
At 31 December 2023 353,084
NET BOOK VALUE
At 31 December 2023 981,016
At 31 December 2022 379,648

HIGH TECHNOLOGY SOURCES LIMITED (REGISTERED NUMBER: 04386579)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Totals
£   
COST
At 1 January 2023 301,339
Additions 531,499
At 31 December 2023 832,838
DEPRECIATION
At 1 January 2023 34,885
Charge for year 37,025
At 31 December 2023 71,910
NET BOOK VALUE
At 31 December 2023 760,928
At 31 December 2022 266,454

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed by group undertakings - 1,360,198

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN FIVE YEARS
31.12.23 31.12.22
£    £   
Repayable by instalments
Finance leases 491,752 137,789

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S Briggs (Senior Statutory Auditor)
for and on behalf of Pembroke Briggs Chartered Accountants

HIGH TECHNOLOGY SOURCES LIMITED (REGISTERED NUMBER: 04386579)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. ULTIMATE CONTROLLING PARTY

The Company's immediate parent company is HTSL Group Limited.

In the Directors' opinion there is no one controlling party.