Registered number
04604710
HTS Direct Limited
Unaudited Filleted Accounts
31 December 2023
HTS Direct Limited
Registered number: 04604710
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 953 2,302
Tangible assets 4 65,143 86,474
Investments 5 70,000 70,000
136,096 158,776
Current assets
Stocks 65,500 64,500
Debtors 6 176,572 227,685
Cash at bank and in hand 48,731 21,023
290,803 313,208
Creditors: amounts falling due within one year 7 (197,203) (206,904)
Net current assets 93,600 106,304
Total assets less current liabilities 229,696 265,080
Creditors: amounts falling due after more than one year 8 (34,883) (75,480)
Net assets 194,813 189,600
Capital and reserves
Called up share capital 200 200
Profit and loss account 194,613 189,400
Shareholders' funds 194,813 189,600
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Koch
Director
Approved by the board on 22 October 2024
HTS Direct Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 6,749
At 31 December 2023 6,749
Amortisation
At 1 January 2023 4,447
Provided during the year 1,349
At 31 December 2023 5,796
Net book value
At 31 December 2023 953
At 31 December 2022 2,302
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 74,870 27,963 19,170 122,003
Disposals - - (19,170) (19,170)
At 31 December 2023 74,870 27,963 - 102,833
Depreciation
At 1 January 2023 18,200 16,371 958 35,529
Charge for the year 1,960 1,159 - 3,119
On disposals - - (958) (958)
At 31 December 2023 20,160 17,530 - 37,690
Net book value
At 31 December 2023 54,710 10,433 - 65,143
At 31 December 2022 56,670 11,592 18,212 86,474
5 Investments
Other
investments
£
Cost
At 1 January 2023 70,000
At 31 December 2023 70,000
The commercial building is stated at its open market value.
6 Debtors 2023 2022
£ £
Trade debtors 148,202 200,040
Other debtors 28,370 27,645
176,572 227,685
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,074 10,291
Trade creditors 51,858 49,455
Taxation and social security costs 115,521 103,979
Other creditors 19,750 43,179
197,203 206,904
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 18,988 28,988
Other creditors 15,895 46,492
34,883 75,480
9 Other information
HTS Direct Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 18 Emerald Way
Stone Business Park
Stone
Staffordshire
ST15 0SR
HTS Direct Limited 04604710 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 M Koch No description of principal activity 04604710 2022-01-01 2022-12-31 04604710 core:WithinOneYear 2022-12-31 04604710 core:AfterOneYear 2022-12-31 04604710 core:ShareCapital 2022-12-31 04604710 core:RetainedEarningsAccumulatedLosses 2022-12-31 04604710 2023-01-01 2023-12-31 04604710 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04604710 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 04604710 bus:Director40 2023-01-01 2023-12-31 04604710 1 2023-01-01 2023-12-31 04604710 2 2023-01-01 2023-12-31 04604710 core:Goodwill 2023-01-01 2023-12-31 04604710 core:LandBuildings 2023-01-01 2023-12-31 04604710 core:PlantMachinery 2023-01-01 2023-12-31 04604710 core:Vehicles 2023-01-01 2023-12-31 04604710 countries:England 2023-01-01 2023-12-31 04604710 bus:FRS102 2023-01-01 2023-12-31 04604710 bus:FilletedAccounts 2023-01-01 2023-12-31 04604710 2023-12-31 04604710 core:WithinOneYear 2023-12-31 04604710 core:AfterOneYear 2023-12-31 04604710 core:ShareCapital 2023-12-31 04604710 core:RetainedEarningsAccumulatedLosses 2023-12-31 04604710 core:Goodwill 2023-12-31 04604710 core:LandBuildings 2023-12-31 04604710 core:PlantMachinery 2023-12-31 04604710 core:Vehicles 2023-12-31 04604710 2022-12-31 04604710 core:Goodwill 2022-12-31 04604710 core:LandBuildings 2022-12-31 04604710 core:PlantMachinery 2022-12-31 04604710 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure