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REGISTERED NUMBER: 10169056 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

HPC MEDIA SYSTEMS LIMITED

HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HPC MEDIA SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: T Walder
R J Walder





SECRETARY: R J Walder





REGISTERED OFFICE: The Beeches
Vicarage Hall
Loxwood
West Sussex
RH14 0RG





REGISTERED NUMBER: 10169056 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
2nd Floor
Medway Bridge House
1-8 Fairmeadow
Maidstone
Kent
ME14 1JP

HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 192,571 212,390

CURRENT ASSETS
Debtors 5 377,008 224,301
Cash at bank 83,010 124,027
460,018 348,328
CREDITORS
Amounts falling due within one year 6 80,055 92,922
NET CURRENT ASSETS 379,963 255,406
TOTAL ASSETS LESS CURRENT
LIABILITIES

572,534

467,796

PROVISIONS FOR LIABILITIES 7 29,085 77,330
NET ASSETS 543,449 390,466

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 543,349 390,366
SHAREHOLDERS' FUNDS 543,449 390,466

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 5 November 2024 and were signed on its behalf by:





T Walder - Director


HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

HPC Media Systems 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised at the date of invoice.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost
Motor vehicles - 10% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Going concern
Accounting standards require the directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future.

The directors believe this to be the case as the company has positive reserves, cash balances and no significant long term liabilities. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Having regard to the above, the directors believe it is appropriate to adopt the going concern basis of accounting in preparing the financial statements.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Office Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 2,799 240,369 9,788 252,956
Additions 479 - 2,400 2,879
Disposals (383 ) - (2,199 ) (2,582 )
At 31 May 2024 2,895 240,369 9,989 253,253
DEPRECIATION
At 1 June 2023 2,785 29,987 7,794 40,566
Charge for year 93 21,038 1,567 22,698
Eliminated on disposal (383 ) - (2,199 ) (2,582 )
At 31 May 2024 2,495 51,025 7,162 60,682
NET BOOK VALUE
At 31 May 2024 400 189,344 2,827 192,571
At 31 May 2023 14 210,382 1,994 212,390

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 93,899 55,366
Directors' loan accounts 283,109 168,935
377,008 224,301

HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 72,780 85,847
Other creditors 5,075 5,075
Accruals and deferred income 2,200 2,000
80,055 92,922

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 29,085 77,330

Deferred
tax
£   
Balance at 1 June 2023 77,330
Utilised during year (48,245 )
Balance at 31 May 2024 29,085

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45 Ordinary A £1 45 45
45 Ordinary B £1 45 45
10 Ordinary C £1 10 10
100 100

Ordinary A
Each share shall rank equally for voting purposes. On a show of hands each member shall have one vote and on a poll each member shall have one vote per share held. Each share ranks equally for any dividend declared. Each share ranks equally for any distribution made on a winding up. The shares are not redeemable.

Ordinary B
Each share shall rank equally for voting purposes. On a show of hands each member shall have one vote and on a poll each member shall have one vote per share held. Each share ranks equally for any dividend declared. Each share ranks equally for any distribution made on a winding up. The shares are not redeemable.

Ordinary C
Each non-voting Ordinary C share ranks equally with the other ordinary shares in all respects, except that they do not entitle the holder to vote. Each non-voting Ordinary C share does entitle the holder to a percentage of the dividends as set out in the articles, if one is declared. They shall also entitle the holders to a return of capital at par on a winding up to the extent that one is available after making distributions in the order of preference set out in the articles.

9. RESERVES
Retained
earnings
£   

At 1 June 2023 390,366
Profit for the year 154,183
Dividends (1,200 )
At 31 May 2024 543,349

HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


10. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £Nil (2023: £9,094). £5,075 outstanding liability was payable to the fund at the balance sheet date (2023: £5,075).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
T Walder
Balance outstanding at start of year 168,935 5,555
Amounts advanced 116,737 163,380
Amounts repaid (2,561 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 283,111 168,935

Interest is chargeable on amounts outstanding at 2.25% per annum (official rate of interest).

12. ULTIMATE CONTROLLING PARTY

The directors consider there to be no ultimate controlling party.