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REGISTERED NUMBER: 03123573 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

H.E.C. CONTRACTING LIMITED

H.E.C. CONTRACTING LIMITED (REGISTERED NUMBER: 03123573)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


H.E.C. CONTRACTING LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTORS: Mr C Horsfall
Mr D Booth
Mrs L Horsfall





REGISTERED OFFICE: Electric House
Moderna Way
Mytholmroyd
Hebden Bridge
West Yorkshire
HX7 5PZ





REGISTERED NUMBER: 03123573 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

H.E.C. CONTRACTING LIMITED (REGISTERED NUMBER: 03123573)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,585,000 1,840,000
Tangible assets 5 493,540 551,132
2,078,540 2,391,132

CURRENT ASSETS
Stocks 6 54,900 62,000
Debtors 7 781,138 894,028
Cash at bank and in hand 1,615,679 658,352
2,451,717 1,614,380
CREDITORS
Amounts falling due within one year 8 1,785,385 1,277,138
NET CURRENT ASSETS 666,332 337,242
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,744,872

2,728,374

CREDITORS
Amounts falling due after more than one
year

9

(15,834

)

(25,833

)

PROVISIONS FOR LIABILITIES (63,702 ) (106,387 )
NET ASSETS 2,665,336 2,596,154

CAPITAL AND RESERVES
Called up share capital 11 125 125
Retained earnings 2,665,211 2,596,029
SHAREHOLDERS' FUNDS 2,665,336 2,596,154

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

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

H.E.C. CONTRACTING LIMITED (REGISTERED NUMBER: 03123573)

BALANCE SHEET - continued
31 July 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2024 and were signed on its behalf by:





Mr C Horsfall - Director


H.E.C. CONTRACTING LIMITED (REGISTERED NUMBER: 03123573)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

H.E.C. Contracting Limited is a private company, limited by shares, incorporated in England and Wales, registration number 03123573. The address of the registered office and principal place of business is Electra House, Moderna Way, Mytholmroyd, Hebden Bridge, West Yorkshire, HX7 5PZ.

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 represents amounts recognised by the company in respect of goods supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of the supply of electrical contractor services, which are recognised at the point of which the goods are delivered and legal title is passed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets are charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Plant and machinery-25% on cost
Fixtures and fittings-25% on cost
Motor vehicles-25% on cost
Computer equipment-25% on cost


At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items of tangible fixed assets have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Costs are based on the method most appropriate to the type of inventory class, usually on a first-in-first-out basis. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of these stocks are recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down in stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.


H.E.C. CONTRACTING LIMITED (REGISTERED NUMBER: 03123573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 63 (2023 - 68 ) .

H.E.C. CONTRACTING LIMITED (REGISTERED NUMBER: 03123573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 5,100,000
AMORTISATION
At 1 August 2023 3,260,000
Amortisation for year 255,000
At 31 July 2024 3,515,000
NET BOOK VALUE
At 31 July 2024 1,585,000
At 31 July 2023 1,840,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 6,626 3,042 805,752 30,394 845,814
Additions - - 147,335 - 147,335
Disposals - - (43,271 ) - (43,271 )
At 31 July 2024 6,626 3,042 909,816 30,394 949,878
DEPRECIATION
At 1 August 2023 2,295 2,328 272,341 17,718 294,682
Charge for year 1,657 318 197,771 5,181 204,927
Eliminated on disposal - - (43,271 ) - (43,271 )
At 31 July 2024 3,952 2,646 426,841 22,899 456,338
NET BOOK VALUE
At 31 July 2024 2,674 396 482,975 7,495 493,540
At 31 July 2023 4,331 714 533,411 12,676 551,132

6. STOCKS
2024 2023
£    £   
Stocks 54,900 62,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 552,561 822,405
Other debtors 228,577 71,623
781,138 894,028

H.E.C. CONTRACTING LIMITED (REGISTERED NUMBER: 03123573)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 644,595 581,776
Taxation and social security 888,253 512,782
Other creditors 242,537 172,580
1,785,385 1,277,138

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 15,834 25,833

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 25,834 35,833

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
6,250 Ordinary A £0.01 63 63
2,500 Ordinary B £0.01 25 25
3,750 Ordinary C £0.01 37 37
125 125

12. OTHER FINANCIAL COMMITMENTS

At the year end the total operating lease commitments that are not shown on the balance sheet were £17,333 (2023 - £33,333).

13. RELATED PARTY DISCLOSURES

During the year H.E.C. Contracting Limited paid £12,000 (2023 - £12,000) rent to C Horsfall Property which is under the control of Mr C Horsfall who is also the director of H.E.C. Contracting Limited.

Included in debtors is an amount owing to H.E.C. Contracting Limited from the directors of £180,510 (2023 - £63,239).