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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
13803565
2023-01-01
2024-06-30
13803565
2024-06-30
13803565
2022-12-31
13803565
2022-01-01
2022-12-31
13803565
2022-12-31
13803565
2021-12-31
13803565
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-01-01
2024-06-30
13803565
core:PlantMachinery
2023-01-01
2024-06-30
13803565
core:MotorVehicles
2023-01-01
2024-06-30
13803565
bus:LeadAgentIfApplicable
2023-01-01
2024-06-30
13803565
bus:Director1
2023-01-01
2024-06-30
13803565
core:WithinOneYear
2024-06-30
13803565
core:WithinOneYear
2022-12-31
13803565
core:AfterOneYear
2024-06-30
13803565
core:AfterOneYear
2022-12-31
13803565
core:ShareCapital
2024-06-30
13803565
core:ShareCapital
2022-12-31
13803565
core:RetainedEarningsAccumulatedLosses
2024-06-30
13803565
core:RetainedEarningsAccumulatedLosses
2022-12-31
13803565
bus:SmallEntities
2023-01-01
2024-06-30
13803565
bus:AuditExemptWithAccountantsReport
2023-01-01
2024-06-30
13803565
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2024-06-30
13803565
bus:PrivateLimitedCompanyLtd
2023-01-01
2024-06-30
13803565
bus:AbridgedAccounts
2023-01-01
2024-06-30
13803565
core:ComputerEquipment
2023-01-01
2024-06-30
COMPANY REGISTRATION NUMBER:
13803565
Filleted Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Period from 1 January 2023 to 30 June 2024
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements |
1 |
|
|
Abridged statement of financial position |
2 |
|
|
Notes to the abridged financial statements |
4 |
|
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
HVI Ltd |
|
Period from 1 January 2023 to 30 June 2024
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the period ended 30 June 2024, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HARPER SHELDON LIMITED
Chartered accountants
Midway House
Staverton Technology Park
Herrick Way, Staverton
Cheltenham, Glos.
GL51 6TQ
14 January 2025
Abridged Statement of Financial Position |
|
30 June 2024
|
30 Jun 24 |
31 Dec 22 |
Note |
£ |
£ |
|
|
|
Fixed assets
Intangible assets |
5 |
29,697 |
3,364 |
Tangible assets |
6 |
222,965 |
37,512 |
|
--------- |
-------- |
|
252,662 |
40,876 |
|
|
|
|
Current assets
Debtors |
122,482 |
109,756 |
Cash at bank and in hand |
104,287 |
143,288 |
|
--------- |
--------- |
|
226,769 |
253,044 |
|
|
|
Creditors: amounts falling due within one year |
243,621 |
82,040 |
|
--------- |
--------- |
Net current (liabilities)/assets |
(
16,852) |
171,004 |
|
--------- |
--------- |
Total assets less current liabilities |
235,810 |
211,880 |
|
|
|
Creditors: amounts falling due after more than one year |
30,527 |
90,767 |
|
--------- |
--------- |
Net assets |
205,283 |
121,113 |
|
--------- |
--------- |
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
205,281 |
121,111 |
|
--------- |
--------- |
Shareholders funds |
205,283 |
121,113 |
|
--------- |
--------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
30 June 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
14 January 2025
, and are signed on behalf of the board by:
Company registration number:
13803565
Notes to the Abridged Financial Statements |
|
Period from 1 January 2023 to 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, GL51 6TQ, United Kingdom.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Leasehold improvements |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant and machinery |
- |
25% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
Computer equipment |
- |
40% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
(2022:
2
).
5.
Intangible assets
|
£ |
Cost |
|
At 1 January 2023 |
3,450 |
Additions |
27,906 |
|
-------- |
At 30 June 2024 |
31,356 |
|
-------- |
Amortisation |
|
At 1 January 2023 |
86 |
Charge for the period |
1,573 |
|
-------- |
At 30 June 2024 |
1,659 |
|
-------- |
Carrying amount |
|
At 30 June 2024 |
29,697 |
|
-------- |
At 31 December 2022 |
3,364 |
|
-------- |
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 January 2023 |
44,051 |
Additions |
249,988 |
|
--------- |
At 30 June 2024 |
294,039 |
|
--------- |
Depreciation |
|
At 1 January 2023 |
6,539 |
Charge for the period |
64,535 |
|
--------- |
At 30 June 2024 |
71,074 |
|
--------- |
Carrying amount |
|
At 30 June 2024 |
222,965 |
|
--------- |
At 31 December 2022 |
37,512 |
|
--------- |
|
|