HL Engineering Contractors Limited 03352504 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Engineering Digita Accounts Production Advanced 6.30.9574.0 true true 03352504 2023-05-01 2024-04-30 03352504 2024-04-30 03352504 bus:Director1 1 2024-04-30 03352504 bus:Director3 1 2024-04-30 03352504 core:RetainedEarningsAccumulatedLosses 2024-04-30 03352504 core:ShareCapital 2024-04-30 03352504 core:CurrentFinancialInstruments 2024-04-30 03352504 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 03352504 core:Non-currentFinancialInstruments 2024-04-30 03352504 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 03352504 core:FurnitureFittingsToolsEquipment 2024-04-30 03352504 core:MotorVehicles 2024-04-30 03352504 bus:SmallEntities 2023-05-01 2024-04-30 03352504 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03352504 bus:FilletedAccounts 2023-05-01 2024-04-30 03352504 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03352504 bus:RegisteredOffice 2023-05-01 2024-04-30 03352504 bus:Director1 2023-05-01 2024-04-30 03352504 bus:Director1 1 2023-05-01 2024-04-30 03352504 bus:Director3 2023-05-01 2024-04-30 03352504 bus:Director3 1 2023-05-01 2024-04-30 03352504 bus:Director4 2023-05-01 2024-04-30 03352504 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03352504 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 03352504 core:MotorVehicles 2023-05-01 2024-04-30 03352504 core:PlantMachinery 2023-05-01 2024-04-30 03352504 countries:EnglandWales 2023-05-01 2024-04-30 03352504 2023-04-30 03352504 bus:Director1 1 2023-04-30 03352504 bus:Director3 1 2023-04-30 03352504 core:FurnitureFittingsToolsEquipment 2023-04-30 03352504 core:MotorVehicles 2023-04-30 03352504 2022-05-01 2023-04-30 03352504 2023-04-30 03352504 core:RetainedEarningsAccumulatedLosses 2023-04-30 03352504 core:ShareCapital 2023-04-30 03352504 core:CurrentFinancialInstruments 2023-04-30 03352504 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 03352504 core:Non-currentFinancialInstruments 2023-04-30 03352504 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 03352504 core:FurnitureFittingsToolsEquipment 2023-04-30 03352504 core:MotorVehicles 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 03352504

HL Engineering Contractors Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

HL Engineering Contractors Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

HL Engineering Contractors Limited

Company Information

Directors

J P Haigh

P Haigh

T J Martin

Registered office

HL (UK) Holdings Building
Normanby Road
Scunthorpe
North Lincolnshire
DN15 9YJ

 

HL Engineering Contractors Limited

(Registration number: 03352504)
Balance Sheet as at 30 April 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

345,164

316,955

Current assets

 

Stocks

5

42,046

30,597

Debtors

6

371,299

347,414

Cash at bank and in hand

 

105,374

487,273

 

518,719

865,284

Creditors: Amounts falling due within one year

7

(349,570)

(600,609)

Net current assets

 

169,149

264,675

Total assets less current liabilities

 

514,313

581,630

Creditors: Amounts falling due after more than one year

7

(159,136)

(198,042)

Provisions for liabilities

(84,705)

(77,500)

Net assets

 

270,472

306,088

Capital and reserves

 

Called up share capital

6

6

Retained earnings

270,466

306,082

Shareholders' funds

 

270,472

306,088

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

 

HL Engineering Contractors Limited

(Registration number: 03352504)
Balance Sheet as at 30 April 2024

.........................................
J P Haigh
Director

.........................................
P Haigh
Director

 

HL Engineering Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
HL (UK) Holdings Building
Normanby Road
Scunthorpe
North Lincolnshire
DN15 9YJ

These financial statements were authorised for issue by the Board on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

Specifically in connection with the current economic climate, the directors are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Grants are included in the profit and loss on a receivable basis. Where income is received in advance of meeting any performance related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance relared conditions are met. Where entitlement occurs before income is received, the income is accrued.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

HL Engineering Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% Reducing balance

Plant and machinery

20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

HL Engineering Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

HL Engineering Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 29 (2023 - 20).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

157,713

357,370

515,083

Additions

29,803

76,949

106,752

Disposals

-

(22,155)

(22,155)

At 30 April 2024

187,516

412,164

599,680

Depreciation

At 1 May 2023

82,977

115,151

198,128

Charge for the year

19,622

51,026

70,648

Eliminated on disposal

-

(14,260)

(14,260)

At 30 April 2024

102,599

151,917

254,516

Carrying amount

At 30 April 2024

84,917

260,247

345,164

At 30 April 2023

74,736

242,219

316,955

5

Stocks

2024
£

(As restated)

2023
£

Work in progress

17,796

(553)

Other inventories

24,250

31,150

42,046

30,597

6

Debtors

 

HL Engineering Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Current

2024
£

2023
£

Trade debtors

245,137

297,881

Prepayments

50,588

48,207

Other debtors

75,574

1,326

 

371,299

347,414

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

(As restated)

2023
£

Due within one year

 

Loans and borrowings

108,054

93,630

Trade creditors

 

159,831

84,915

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

9

40,463

250,488

Taxation and social security

 

18,063

151,792

Accruals and deferred income

 

9,343

4,380

Other creditors

 

13,816

15,404

 

349,570

600,609

Current loans and borrowings

2024
£

2023
£

HP and finance leases

52,577

34,674

Other borrowings

55,477

58,956

108,054

93,630

Creditors: amounts falling due after more than one year

The hire purchase contracts are secured by the assets they are relating to.

Non-current loans and borrowings

2024
£

2023
£

HP and finance lease liabilities

109,969

93,875

Other borrowings

49,167

104,167

159,136

198,042

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £195,500 (2023 - £242,500).

 

HL Engineering Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

9

Related party transactions

The below advance had no fixed repayment date, interest has not been charged.

Transactions with Directors

2024

At 1 May 2023
£

Advances to Director
£

At 30 April 2024
£

J P Haigh

1,184

20,416

21,600

P Haigh

(3,479)

20,416

16,937