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COMPANY REGISTRATION NUMBER: 01871483
Hulco U.K. Limited
Filleted Unaudited Financial Statements
31 January 2024
Hulco U.K. Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Hulco U.K. Limited
Balance Sheet
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
25,092
34,433
Current assets
Stocks
74,250
65,182
Debtors
6
213,010
214,336
Cash at bank and in hand
171,458
312,729
---------
---------
458,718
592,247
Creditors: amounts falling due within one year
7
( 139,800)
( 186,993)
---------
---------
Net current assets
318,918
405,254
---------
---------
Total assets less current liabilities
344,010
439,687
Provisions
Taxation including deferred tax
( 2,002)
( 3,096)
---------
---------
Net assets
342,008
436,591
---------
---------
Hulco U.K. Limited
Balance Sheet (continued)
31 January 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
341,908
436,491
---------
---------
Shareholders funds
342,008
436,591
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Mr W F Downer
Director
Company registration number: 01871483
Hulco U.K. Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property improvements
-
10% straight line
Computer equipment
-
33% straight line
Plant, fixtures and fittings
-
15% straight line
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 9 ).
5. Tangible assets
Long leasehold property
Computer equipment
Plant, fixtures & fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2023
39,747
5,923
42,617
32,635
120,922
Disposals
( 4,600)
( 4,600)
--------
-------
--------
--------
---------
At 31 January 2024
39,747
5,923
42,617
28,035
116,322
--------
-------
--------
--------
---------
Depreciation
At 1 February 2023
23,043
4,985
35,970
22,491
86,489
Charge for the year
3,975
470
1,746
2,332
8,523
Disposals
( 3,782)
( 3,782)
--------
-------
--------
--------
---------
At 31 January 2024
27,018
5,455
37,716
21,041
91,230
--------
-------
--------
--------
---------
Carrying amount
At 31 January 2024
12,729
468
4,901
6,994
25,092
--------
-------
--------
--------
---------
At 31 January 2023
16,704
938
6,647
10,144
34,433
--------
-------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
169,046
207,904
Other debtors
43,964
6,432
---------
---------
213,010
214,336
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
108,093
162,160
Corporation tax
2,346
8,158
Social security and other taxes
28,631
10,920
Other creditors
730
5,755
---------
---------
139,800
186,993
---------
---------
8. Directors' advances, credits and guarantees
The directors, had an interest-free loan during the year, repayable on demand. At the beginning of the year the company owed them £218 and at the end of the year the company owed them £579. At no point during the year did they owe the company money.
9. Related party transactions
At the end of the year the company was owed £26,885 (2023: £4,199) by a company controlled by the directors. The loan is interest free and repayable on demand. This company invoiced Hulco U.K. Limited a management charge of £15,000 during the year. At the end of the year the company was owed £14,128 (2023: nil) by a family member of the directors. The loan was repayable on demand and interest free.