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Registered number: 12612042
Hls Property Services Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 12612042
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,139 1,990
2,139 1,990
CURRENT ASSETS
Stocks 5 - 3,000
Debtors 6 600 1,160
Cash at bank and in hand 4,261 13,641
4,861 17,801
Creditors: Amounts Falling Due Within One Year 7 (5,036 ) (19,124 )
NET CURRENT ASSETS (LIABILITIES) (175 ) (1,323 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,964 667
NET ASSETS 1,964 667
CAPITAL AND RESERVES
Called up share capital 8 100 100
Income Statement 1,864 567
SHAREHOLDERS' FUNDS 1,964 667
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For the year ending 31 May 2024 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 Income Statement.
On behalf of the board
Mr Joseph Morris
Director
27/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hls Property Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12612042 . The registered office is 10 Poole Close, Hereford, HR2 7JP.
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% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 2,625 939 1,006 4,570
Additions - 859 - 859
As at 31 May 2024 2,625 1,798 1,006 5,429
Depreciation
As at 1 June 2023 1,518 543 519 2,580
Provided during the period 276 313 121 710
As at 31 May 2024 1,794 856 640 3,290
Net Book Value
As at 31 May 2024 831 942 366 2,139
As at 1 June 2023 1,107 396 487 1,990
5. Stocks
2024 2023
£ £
Work in progress - 3,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 600 1,160
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1 -
Corporation tax 2,669 4,618
Accruals and deferred income 464 464
Director's loan account 1,902 14,042
5,036 19,124
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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