Registered number
07997504
HCS Trading Limited
Filleted Accounts
31 March 2024
HCS Trading Limited
Registered number: 07997504
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 28,754 36,916
Current assets
Stocks 356,515 487,838
Debtors 5 3,754 3,754
Cash at bank and in hand 29,672 254,644
389,941 746,236
Creditors: amounts falling due within one year 6 (174,104) (466,312)
Net current assets 215,837 279,924
Total assets less current liabilities 244,591 316,840
Creditors: amounts falling due after more than one year 7 (122,651) (195,233)
Net assets 121,940 121,607
Capital and reserves
Called up share capital 100 100
Profit and loss account 121,840 121,507
Shareholders' funds 121,940 121,607
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
_____________________________________
Daniel Warr
Director
Approved by the board on 14 November 2024
HCS Trading Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 20% Straight Line
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 10,000
At 31 March 2024 10,000
Amortisation
At 1 April 2023 10,000
At 31 March 2024 10,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 111,896
Additions 1,423
At 31 March 2024 113,319
Depreciation
At 1 April 2023 74,980
Charge for the year 9,585
At 31 March 2024 84,565
Net book value
At 31 March 2024 28,754
At 31 March 2023 36,916
5 Debtors 2024 2023
£ £
Prepayments 3,754 3,754
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,601 1,768
Corporation tax 2,518 4,607
Taxation and social security costs 863 1,212
Directors loan 158,466 442,497
Accruals 150 150
Other creditors 9,506 16,078
174,104 466,312
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bounceback loan 22,419 32,371
Other loans 100,232 162,862
122,651 195,233
8 Controlling party
The controlling party of the company are the directors Daniel Warr and Corrina Warr.
9 Other information
HCS Trading Limited is a private company limited by shares and incorporated in England. Its registered office is:
124 Poynders Hill
Hemel Hempstead
Herts
HP2 4PN
HCS Trading Limited 07997504 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Daniel Warr No description of principal activity 07997504 2022-04-01 2023-03-31 07997504 core:WithinOneYear 2023-03-31 07997504 core:AfterOneYear 2023-03-31 07997504 core:ShareCapital 2023-03-31 07997504 core:RetainedEarningsAccumulatedLosses 2023-03-31 07997504 2023-04-01 2024-03-31 07997504 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07997504 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07997504 bus:Director40 2023-04-01 2024-03-31 07997504 1 2023-04-01 2024-03-31 07997504 2 2023-04-01 2024-03-31 07997504 core:PlantMachinery 2023-04-01 2024-03-31 07997504 countries:England 2023-04-01 2024-03-31 07997504 bus:FRS102 2023-04-01 2024-03-31 07997504 bus:FilletedAccounts 2023-04-01 2024-03-31 07997504 2024-03-31 07997504 core:WithinOneYear 2024-03-31 07997504 core:AfterOneYear 2024-03-31 07997504 core:ShareCapital 2024-03-31 07997504 core:RetainedEarningsAccumulatedLosses 2024-03-31 07997504 core:Goodwill 2024-03-31 07997504 core:PlantMachinery 2024-03-31 07997504 2023-03-31 07997504 core:Goodwill 2023-03-31 07997504 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure