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Registration number: 06768169

HTL Support Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

HTL Support Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

HTL Support Limited

Company Information

Director

Yves Robert Maurice Coles

Registered office

30 Churchill Place
London
E14 5RE

Accountants

Field Sullivan Limited
9 Hare & Billet Road
Blackheath
SE3 0RB

 

HTL Support Limited

(Registration number: 06768169)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

15,363

20,902

Current assets

 

Debtors

5

98,198

73,661

Cash at bank and in hand

 

46,973

99,438

 

145,171

173,099

Creditors: Amounts falling due within one year

6

(439,784)

(404,167)

Net current liabilities

 

(294,613)

(231,068)

Total assets less current liabilities

 

(279,250)

(210,166)

Creditors: Amounts falling due after more than one year

6

(14,167)

(24,167)

Net liabilities

 

(293,417)

(234,333)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(293,517)

(234,433)

Shareholders' deficit

 

(293,417)

(234,333)

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

HTL Support Limited

(Registration number: 06768169)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 27 September 2024
 

.........................................
Yves Robert Maurice Coles
Director

 

HTL Support Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
30 Churchill Place
London
E14 5RE

These financial statements were authorised for issue by the director on 27 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will be able to meet its debts as they fall due. However at the year end the company has net liabilities of £293,417 (2022: £234,333). The director believes it is appropriate to prepare the financial statements on a going concern basis, as the main creditor is a former shareholder £248,020 (2022: £248,020), who agreed to extend the repayment date of the loan until the financial stability of the company will improve.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
the service is delivered. When the service delivered straddles the accounting period end, the income is apportioned on a pro-rata basis.

 

HTL Support Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years straight line basis

Vehicles, plant and machinery

25% reducing value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

HTL Support Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2022 - 7).

 

HTL Support Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

87,840

27,461

115,301

Additions

2,108

-

2,108

At 31 December 2023

89,948

27,461

117,409

Depreciation

At 1 January 2023

84,254

10,145

94,399

Charge for the year

3,318

4,329

7,647

At 31 December 2023

87,572

14,474

102,046

Carrying amount

At 31 December 2023

2,376

12,987

15,363

At 31 December 2022

3,586

17,316

20,902

5

Debtors

Current

2023
£

2022
£

Trade debtors

72,792

51,248

Prepayments

1,645

4,637

Other debtors

23,761

17,776

 

98,198

73,661

 

HTL Support Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

10,000

10,000

Trade creditors

 

36,605

30,151

Taxation and social security

 

27,979

33,933

Accruals and deferred income

 

76,054

57,384

Other creditors

 

289,146

272,699

 

439,784

404,167

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

14,167

24,167

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

A ordinary shares of £1 each

90

90

90

90

B ordinary shares of £1 each

10

10

10

10

100

100

100

100

 

HTL Support Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

14,167

24,167

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,000

10,000

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

69,575

68,181

Summary of transactions with other related parties

Serviced Cloud Limited
(Company under common control)

 Serviced Cloud Limited charged £212,106 including VAT (2022: £173,700) of management services to HTL Support Limited for the period. Funds of £187,300 (2022: £276,500) were transferred from HTL Support to Service Cloud Limited during the year. At the balance sheet date the amount due to Serviced Cloud was £39,830 (2022: £15,024).

Maurice Coles
(director and shareholder)

During the year the director withdrew £3,465 (2022: £2,984) from the company. At the balance sheet date the amount owed by Maurice Coles was £6,449 (2022: £2,984). This is due to be repaid within nine months from the year end.