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Registration number: 07659122

Hsc Global Asset Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Hsc Global Asset Management Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Hsc Global Asset Management Limited

Company Information

Directors

HS Chana

MK Chana

Registered office

Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

Accountants

Sterling Grove Accountants Limited
Chartered Certified AccountantsFawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Hsc Global Asset Management Limited

(Registration number: 07659122)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

25,218

30,370

Cash at bank and in hand

 

854

576

 

26,072

30,946

Creditors: Amounts falling due within one year

5

(25,154)

(30,442)

Net assets

 

918

504

Capital and reserves

 

Called up share capital

100

100

Retained earnings

818

404

Shareholders' funds

 

918

504

For the financial year ending 30 June 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................
HS Chana
Director

 

Hsc Global Asset Management Limited

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

1

General information

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

The address of its registered office is:
Fawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD
England

The principal place of business is:
46 Headstone Lane
Harrow
Middlesex
HA2 6HH
England

These financial statements were authorised for issue by the Board on 31 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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 and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current 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.

The current income 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.

 

Hsc Global Asset Management Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. 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.

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.

Share capital

Ordinary shares are classified as equity.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

Current

2024
£

2023
£

Trade debtors

3,850

3,400

Other debtors

21,368

26,970

 

25,218

30,370

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

13

Taxation and social security

23,354

28,689

Accruals and deferred income

1,800

1,740

25,154

30,442

 

Hsc Global Asset Management Limited

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

6

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

HS Chana

Interest free loan

8,422

11,138

(11,718)

7,842

MK Chana

Interest free loan

8,422

11,138

(11,718)

7,842

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

HS Chana

Interest free loan

3,556

25,357

(20,491)

8,422

MK Chana

Interest free loan

3,556

25,357

(20,491)

8,422

Other transactions with directors

The loans to the directors are interest free and have no fixed repayment terms.