REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
FOR |
HPC MEDIA SYSTEMS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
FOR |
HPC MEDIA SYSTEMS LIMITED |
HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HPC MEDIA SYSTEMS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2nd Floor |
Medway Bridge House |
1-8 Fairmeadow |
Maidstone |
Kent |
ME14 1JP |
HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056) |
BALANCE SHEET |
28 FEBRUARY 2025 |
2025 | 2024 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056) |
BALANCE SHEET - continued |
28 FEBRUARY 2025 |
The financial statements were approved by the Board of Directors and authorised for issue on |
HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
1. | STATUTORY INFORMATION |
HPC Media Systems Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The business ceased to trade on 28 February 2025 and it is the intention of the directors that after settling all the creditors, the business would be dissolved. Therefore the financial statements have not been prepared on the going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income is recognised at the date of invoice. |
Tangible fixed assets |
Office equipment | - |
Motor vehicles | - |
Computer equipment | - |
No depreciation charge on tangible fixed assets in the final period of trade. Fixed assets carried at market value in cessation period. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of the financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Creditors |
Short term creditors are measured at the transaction price. |
Cash and equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known accounts of cash with no significant risk of change in value. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
4. | TANGIBLE FIXED ASSETS |
Office | Motor | Computer |
equipment | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST OR VALUATION |
At 1 June 2024 |
Additions |
Revaluations | ( |
) | ( |
) | ( |
) | ( |
) |
At 28 February 2025 |
DEPRECIATION |
At 1 June 2024 |
and 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 31 May 2024 |
Cost or valuation at 28 February 2025 is represented by: |
Office | Motor | Computer |
equipment | vehicles | equipment | Totals |
£ | £ | £ | £ |
Valuation in 2025 | (370 | ) | (65,744 | ) | (627 | ) | (66,741 | ) |
Cost | 3,166 | 240,369 | 9,989 | 253,524 |
2,796 | 174,625 | 9,362 | 186,783 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Other debtors |
Directors' loan accounts | 283,231 | 283,109 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade creditors |
Corporation tax |
Other creditors |
Accruals and deferred income |
HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
7. | PROVISIONS FOR LIABILITIES |
2025 | 2024 |
£ | £ |
Deferred tax | - | 29,085 |
Deferred |
tax |
£ |
Balance at 1 June 2024 |
Utilised during period | ( |
) |
Balance at 28 February 2025 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2025 | 2024 |
value: | £ | £ |
Ordinary A | £1 | 45 | 45 |
Ordinary B | £1 | 45 | 45 |
Ordinary C | £1 | 10 | 10 |
100 | 100 |
Ordinary A |
Each share shall rank equally for voting purposes. On a show of hands each member shall have one vote and on a poll each member shall have one vote per share held. Each share ranks equally for any dividend declared. Each share ranks equally for any distribution made on a winding up. The shares are not redeemable. |
Ordinary B |
Each share shall rank equally for voting purposes. On a show of hands each member shall have one vote and on a poll each member shall have one vote per share held. Each share ranks equally for any dividend declared. Each share ranks equally for any distribution made on a winding up. The shares are not redeemable. |
Ordinary C |
Each non-voting Ordinary C share ranks equally with the other ordinary shares in all respects, except that they do not entitle the holder to vote. Each non-voting Ordinary C share does entitle the holder to a percentage of the dividends as set out in the articles, if one is declared. They shall also entitle the holders to a return of capital at par on a winding up to the extent that one is available after making distributions in the order of preference set out in the articles. |
HPC MEDIA SYSTEMS LIMITED (REGISTERED NUMBER: 10169056) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2024 TO 28 FEBRUARY 2025 |
9. | PENSION COMMITMENTS |
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. £5,075 outstanding liability was payable to the fund at the balance sheet date (2024: £5,075). |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 28 February 2025 and the year ended 31 May 2024: |
2025 | 2024 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
Interest is chargeable on amounts outstanding at 2.25% per annum (official rate of interest). |
11. | ULTIMATE CONTROLLING PARTY |
The directors consider there to be no ultimate controlling party. |