Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalse2023-01-01No description of principal activity22falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12379907 2023-01-01 2023-12-31 12379907 2022-01-01 2022-12-31 12379907 2023-12-31 12379907 2022-12-31 12379907 c:Director1 2023-01-01 2023-12-31 12379907 d:CurrentFinancialInstruments 2023-12-31 12379907 d:CurrentFinancialInstruments 2022-12-31 12379907 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 12379907 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 12379907 d:ShareCapital 2023-12-31 12379907 d:ShareCapital 2022-12-31 12379907 d:RetainedEarningsAccumulatedLosses 2023-12-31 12379907 d:RetainedEarningsAccumulatedLosses 2022-12-31 12379907 c:FRS102 2023-01-01 2023-12-31 12379907 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 12379907 c:FullAccounts 2023-01-01 2023-12-31 12379907 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12379907 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 12379907













H2SC LIMITED
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023


 
H2SC LIMITED
REGISTERED NUMBER:12379907


BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
267,699
148,572

Cash at bank and in hand
 5 
85,350
106,167

  
353,049
254,739

Creditors: amounts falling due within one year
 6 
(84,058)
(88,361)

Net current assets
  
 
 
268,991
 
 
166,378

Total assets less current liabilities
  
268,991
166,378

  

Net assets
  
268,991
166,378


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
268,990
166,377

  
268,991
166,378


Page 1


 
H2SC LIMITED
REGISTERED NUMBER:12379907

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 November 2024.




J P McLelland
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2


 
H2SC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

H2SC Limited is a private company limited by shares, incorporated and registered in England and Wales, United Kingdom. The Company's registered office is 7 - 8 Market Place, London, W1W 8AG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3


 
H2SC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 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 amounts of cash with insignificant risk of change in value.

Page 4


 
H2SC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Other debtors
267,699
148,572



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
85,350
106,167



6.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
2,952
3,480

Corporation tax
76,506
80,281

Accruals and deferred income
4,600
4,600

84,058
88,361


Page 5


 
H2SC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Related party transactions

Included in other debtors is an overdrawn director loan balance of £265,310 (2023: £145,134). This was repaid in full within 9 months of the year end. 


8.


Controlling party

J P McLelland has ultimate control by virtue of their shareholding.

 
Page 6