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REGISTERED NUMBER: 03695819 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

HI Speed Services Limited

HI Speed Services Limited (Registered number: 03695819)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HI Speed Services Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: I Dawkins
Mrs K J Dawkins
J Burmingham
R A Campbell
C Dawkins
M J Williams





REGISTERED OFFICE: Brinell Building
Lysons Avenue
Ash Vale
Aldershot
Hampshire
GU12 5QF





REGISTERED NUMBER: 03695819 (England and Wales)





ACCOUNTANTS: Sumner & Moore Limited
The Studio
2 Borelli Yard
Farnham
Surrey
GU9 7NU

HI Speed Services Limited (Registered number: 03695819)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,550,647 1,650,026

CURRENT ASSETS
Debtors 5 2,563,937 2,435,294
Cash at bank and in hand 166,080 253,723
2,730,017 2,689,017
CREDITORS
Amounts falling due within one year 6 2,292,184 1,693,884
NET CURRENT ASSETS 437,833 995,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,988,480

2,645,159

CREDITORS
Amounts falling due after more than one
year

7

(493,479

)

(723,488

)

PROVISIONS FOR LIABILITIES (381,756 ) (393,296 )
NET ASSETS 1,113,245 1,528,375

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,113,145 1,528,275
SHAREHOLDERS' FUNDS 1,113,245 1,528,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

HI Speed Services Limited (Registered number: 03695819)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





I Dawkins - Director


HI Speed Services Limited (Registered number: 03695819)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

HI Speed Services 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost, 15% on cost, in accordance with the property and at varying rates on cost

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

HI Speed Services Limited (Registered number: 03695819)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 85 (2023 - 80 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 3,136,437
Additions 301,312
Disposals (96,799 )
At 30 September 2024 3,340,950
DEPRECIATION
At 1 October 2023 1,486,411
Charge for year 384,899
Eliminated on disposal (81,007 )
At 30 September 2024 1,790,303
NET BOOK VALUE
At 30 September 2024 1,550,647
At 30 September 2023 1,650,026

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2023 1,374,849
Additions 222,334
Transfer to ownership (72,700 )
At 30 September 2024 1,524,483
DEPRECIATION
At 1 October 2023 396,392
Charge for year 255,724
Transfer to ownership (57,700 )
At 30 September 2024 594,416
NET BOOK VALUE
At 30 September 2024 930,067
At 30 September 2023 978,457

HI Speed Services Limited (Registered number: 03695819)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 1,481,127 1,349,066
Other debtors 1,082,810 1,086,228
2,563,937 2,435,294

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 83,382 76,308
Hire purchase contracts (see note 8) 321,184 291,300
Trade creditors 908,266 880,630
Taxation and social security 382,846 367,004
Other creditors 596,506 78,642
2,292,184 1,693,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans 22,025 105,405
Hire purchase contracts (see note 8) 471,454 618,083
493,479 723,488

HI Speed Services Limited (Registered number: 03695819)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.9.24 30.9.23
£    £   
Gross obligations repayable:
Within one year 360,462 337,036
Between one and five years 496,711 664,612
857,173 1,001,648

Finance charges repayable:
Within one year 39,278 45,736
Between one and five years 25,257 46,529
64,535 92,265

Net obligations repayable:
Within one year 321,184 291,300
Between one and five years 471,454 618,083
792,638 909,383

Non-cancellable operating leases
30.9.24 30.9.23
£    £   
Within one year 961,727 948,871
Between one and five years 1,153,090 2,075,066
2,114,817 3,023,937

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 105,407 181,713
Hire purchase contracts 792,638 909,383
Amounts due to factoring co. 444,684 25,288
1,342,729 1,116,384

The hire purchase advances are secured on the assets to which they relate.The advance from the factoring company is secured by a fixed charge over the trade debtors. HSBC hold a legal assignment and debenture over all money and liabilities.

HI Speed Services Limited (Registered number: 03695819)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

30.9.24 30.9.23
£    £   
I Dawkins
Balance outstanding at start of year 300,000 300,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 300,000