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REGISTERED NUMBER: 08867191 (England and Wales)












ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

H2M ENGINEERING LIMITED

H2M ENGINEERING LIMITED (REGISTERED NUMBER: 08867191)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


H2M ENGINEERING LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: M A Forryan
A R Forryan





REGISTERED OFFICE: 20 Jacknell Road
Hinckley
LE10 3BS





REGISTERED NUMBER: 08867191 (England and Wales)






H2M ENGINEERING LIMITED (REGISTERED NUMBER: 08867191)

ABRIDGED BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,744,942 2,438,770

CURRENT ASSETS
Stocks 385,000 335,000
Debtors 780,676 802,172
Cash in hand 17 2
1,165,693 1,137,174
CREDITORS
Amounts falling due within one year 1,652,702 1,850,004
NET CURRENT LIABILITIES (487,009 ) (712,830 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,257,933

1,725,940

CREDITORS
Amounts falling due after more than one
year

(1,165,514

)

(916,361

)

PROVISIONS FOR LIABILITIES (310,262 ) (237,552 )
NET ASSETS 782,157 572,027

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 782,156 572,026
782,157 572,027

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

H2M ENGINEERING LIMITED (REGISTERED NUMBER: 08867191)

ABRIDGED BALANCE SHEET - continued
31 January 2024


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 January 2024 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 30 October 2024 and were signed on its behalf by:





A R Forryan - Director


H2M ENGINEERING LIMITED (REGISTERED NUMBER: 08867191)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

H2M Engineering 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.

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Turnover
Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal course of business. Revenue is recognised in respect of service contracts when the company obtains the right to consideration.

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.
Plant & machinery - 15% on reducing balance
Fixtures & fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

H2M ENGINEERING LIMITED (REGISTERED NUMBER: 08867191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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 48 (2023 - 47 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 5,282,356
Additions 1,049,141
Disposals (973,275 )
At 31 January 2024 5,358,222
DEPRECIATION
At 1 February 2023 2,843,586
Charge for year 470,767
Eliminated on disposal (701,073 )
At 31 January 2024 2,613,280
NET BOOK VALUE
At 31 January 2024 2,744,942
At 31 January 2023 2,438,770

H2M ENGINEERING LIMITED (REGISTERED NUMBER: 08867191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 February 2023 2,441,555
Additions 739,016
At 31 January 2024 3,180,571
DEPRECIATION
At 1 February 2023 499,256
Charge for year 6,075
At 31 January 2024 505,331
NET BOOK VALUE
At 31 January 2024 2,675,240
At 31 January 2023 1,942,299

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 493,432 558,326
Between one and five years 1,036,764 720,945
1,530,196 1,279,271

Non-cancellable operating leases
2024 2023
£    £   
Within one year 40,988 48,432
Between one and five years - 40,988
40,988 89,420

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 1,530,196 1,279,271

Amounts in relation to Hire Purchase balances are secured against the assets to which they relate.

H2M ENGINEERING LIMITED (REGISTERED NUMBER: 08867191)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

7. PENSION COMMITMENTS

Employer pension contributions outstanding at the year end of £6,878 (2023: £3,236).

8. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.