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COMPANY REGISTRATION NUMBER: 06278736
HOC Digital Limited
Filleted Unaudited Financial Statements
31 December 2024
HOC Digital Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
14,183
2,122
Current assets
Stocks
14,189
20,807
Debtors
6
148,964
75,059
Cash at bank and in hand
593,461
706,268
---------
---------
756,614
802,134
Creditors: amounts falling due within one year
7
518,544
523,475
---------
---------
Net current assets
238,070
278,659
---------
---------
Total assets less current liabilities
252,253
280,781
Creditors: amounts falling due after more than one year
8
22,877
72,877
---------
---------
Net assets
229,376
207,904
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
229,374
207,902
---------
---------
Shareholders funds
229,376
207,904
---------
---------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HOC Digital Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 3 February 2025 , and are signed on behalf of the board by:
Mr N K Conway
Director
Company registration number: 06278736
HOC Digital Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Elliot, Woolfe & Rose Limited, Devonshire House, 582 Honeypot Lane, Stanmore, HA7 1JS.
2. Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
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:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% straight line
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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 year amounted to 15 (2023: 14 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024
90,086
11,000
101,086
Additions
16,790
16,790
--------
--------
---------
At 31 December 2024
90,086
27,790
117,876
--------
--------
---------
Depreciation
At 1 January 2024
87,964
11,000
98,964
Charge for the year
531
4,198
4,729
--------
--------
---------
At 31 December 2024
88,495
15,198
103,693
--------
--------
---------
Carrying amount
At 31 December 2024
1,591
12,592
14,183
--------
--------
---------
At 31 December 2023
2,122
2,122
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
109,999
42,936
Other debtors
38,965
32,123
---------
--------
148,964
75,059
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
50,000
50,000
Trade creditors
9,350
9,352
Amounts owed to connected company
124,650
105,775
Social security and other taxes
60,063
51,116
Other creditors
274,481
307,232
---------
---------
518,544
523,475
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
22,877
72,877
--------
--------