32
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No description of principal activity
2023-09-01
Sage Accounts Production Advanced 2023 - FRS102_2023
92,849
92,849
4,051
4,051
88,798
239,415
569,797
809,212
8,765
108,042
116,807
692,405
230,650
xbrli:pure
xbrli:shares
iso4217:GBP
14801658
2023-09-01
2024-08-31
14801658
2024-08-31
14801658
2023-08-31
14801658
2023-04-14
2023-08-31
14801658
2023-08-31
14801658
2023-04-13
14801658
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-09-01
2024-08-31
14801658
core:PlantMachinery
2023-09-01
2024-08-31
14801658
bus:Director1
2023-09-01
2024-08-31
14801658
bus:Director2
2023-09-01
2024-08-31
14801658
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2024-08-31
14801658
core:PlantMachinery
2023-08-31
14801658
core:PlantMachinery
2024-08-31
14801658
core:WithinOneYear
2024-08-31
14801658
core:WithinOneYear
2023-08-31
14801658
core:AfterOneYear
2024-08-31
14801658
core:AfterOneYear
2023-08-31
14801658
core:ShareCapital
2024-08-31
14801658
core:ShareCapital
2023-08-31
14801658
core:SharePremium
2024-08-31
14801658
core:RetainedEarningsAccumulatedLosses
2024-08-31
14801658
core:RetainedEarningsAccumulatedLosses
2023-08-31
14801658
core:PlantMachinery
2023-08-31
14801658
bus:SmallEntities
2023-09-01
2024-08-31
14801658
bus:AuditExempt-NoAccountantsReport
2023-09-01
2024-08-31
14801658
bus:SmallCompaniesRegimeForAccounts
2023-09-01
2024-08-31
14801658
bus:PrivateLimitedCompanyLtd
2023-09-01
2024-08-31
14801658
bus:FullAccounts
2023-09-01
2024-08-31
COMPANY REGISTRATION NUMBER:
14801658
HDM SOLAR (WHOLESALE) LTD |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
HDM SOLAR (WHOLESALE) LTD |
|
STATEMENT OF FINANCIAL POSITION |
|
31 August 2024
Fixed Assets
Intangible assets |
5 |
|
88,798 |
|
– |
Tangible assets |
6 |
|
692,405 |
|
230,650 |
|
|
----------- |
|
----------- |
|
|
781,203 |
|
230,650 |
|
|
|
|
|
|
Current Assets
Stocks |
3,747,990 |
|
736,435 |
|
Debtors |
7 |
4,450,633 |
|
458,464 |
|
Cash at bank and in hand |
1,006,218 |
|
235,648 |
|
|
-------------- |
|
-------------- |
|
|
9,204,841 |
|
1,430,547 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
8,612,621 |
|
1,390,271 |
|
|
-------------- |
|
-------------- |
|
Net Current Assets |
|
592,220 |
|
40,276 |
|
|
-------------- |
|
----------- |
Total Assets Less Current Liabilities |
|
1,373,423 |
|
270,926 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
234,122 |
|
177,096 |
|
|
|
|
|
|
Provisions |
|
– |
|
50,000 |
|
|
-------------- |
|
----------- |
Net Assets |
|
1,139,301 |
|
43,830 |
|
|
-------------- |
|
----------- |
|
|
|
|
|
Capital and Reserves
Called up share capital |
|
1,000 |
|
1,000 |
Share premium account |
|
999,000 |
|
– |
Profit and loss account |
|
139,301 |
|
42,830 |
|
|
-------------- |
|
--------- |
Shareholders Funds |
|
1,139,301 |
|
43,830 |
|
|
-------------- |
|
--------- |
|
|
|
|
|
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.
HDM SOLAR (WHOLESALE) LTD |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 August 2024
For the year ending 31 August 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
19 February 2025
, and are signed on behalf of the board by:
A C Firth |
D J Rogers |
Director |
Director |
|
|
Company registration number:
14801658
HDM SOLAR (WHOLESALE) LTD |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 AUGUST 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 Unit 3 Carmel Park, Saltmarsh Court, Hull, HU47DZ.
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.
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.
Foreign Currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating Leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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:
|
Development costs |
- |
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.
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 |
- |
20% 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.
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.
Finance Leases and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the 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.
Financial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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.
4.
Employee Numbers
The average number of persons employed by the company during the year amounted to
32
(2023:
12
).
5.
Intangible Assets
|
Development costs |
|
£ |
Cost |
|
Additions |
– |
Additions from internal developments |
92,849 |
|
--------- |
At 31 August 2024 |
92,849 |
|
--------- |
Amortisation |
|
Charge for the year |
4,051 |
|
--------- |
At 31 August 2024 |
4,051 |
|
--------- |
Carrying amount |
|
At 31 August 2024 |
88,798 |
|
--------- |
At 31 August 2023 |
– |
|
--------- |
|
|
6.
Tangible Assets
|
Plant and machinery |
|
£ |
Cost |
|
At 1 September 2023 |
239,415 |
Additions |
569,797 |
|
----------- |
At 31 August 2024 |
809,212 |
|
----------- |
Depreciation |
|
At 1 September 2023 |
8,765 |
Charge for the year |
108,042 |
|
----------- |
At 31 August 2024 |
116,807 |
|
----------- |
Carrying amount |
|
At 31 August 2024 |
692,405 |
|
----------- |
At 31 August 2023 |
230,650 |
|
----------- |
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
3,518,970 |
458,464 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
483,173 |
– |
Other debtors |
448,490 |
– |
|
-------------- |
----------- |
|
4,450,633 |
458,464 |
|
-------------- |
----------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
4,902,312 |
1,390,271 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
266,498 |
– |
Social security and other taxes |
294,472 |
– |
Other creditors |
3,149,339 |
– |
|
-------------- |
-------------- |
|
8,612,621 |
1,390,271 |
|
-------------- |
-------------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
1,000 |
– |
Other creditors |
233,122 |
177,096 |
|
----------- |
----------- |
|
234,122 |
177,096 |
|
----------- |
----------- |
|
|
|
10.
Directors' Advances, Credits and Guarantees
During the year, the company made interest-free advances to one or more directors amounting to £44,000 (2023: £nil). These were repayable on demand
.