2 2 HD Sourcing Limited 06921244 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of consultancy in the chemical industry. Digita Accounts Production Advanced 6.30.9574.0 true true 06921244 2023-07-01 2024-06-30 06921244 2024-06-30 06921244 bus:OrdinaryShareClass1 2024-06-30 06921244 bus:OrdinaryShareClass2 2024-06-30 06921244 core:RetainedEarningsAccumulatedLosses 2024-06-30 06921244 core:ShareCapital 2024-06-30 06921244 core:CurrentFinancialInstruments 2024-06-30 06921244 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 06921244 core:FurnitureFittingsToolsEquipment 2024-06-30 06921244 bus:SmallEntities 2023-07-01 2024-06-30 06921244 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06921244 bus:FilletedAccounts 2023-07-01 2024-06-30 06921244 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 06921244 bus:RegisteredOffice 2023-07-01 2024-06-30 06921244 bus:CompanySecretary1 2023-07-01 2024-06-30 06921244 bus:Director1 2023-07-01 2024-06-30 06921244 bus:Director4 2023-07-01 2024-06-30 06921244 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 06921244 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 06921244 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06921244 bus:Agent1 2023-07-01 2024-06-30 06921244 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 06921244 core:OfficeEquipment 2023-07-01 2024-06-30 06921244 countries:EnglandWales 2023-07-01 2024-06-30 06921244 2023-06-30 06921244 core:FurnitureFittingsToolsEquipment 2023-06-30 06921244 2022-07-01 2023-06-30 06921244 2023-06-30 06921244 bus:OrdinaryShareClass1 2023-06-30 06921244 bus:OrdinaryShareClass2 2023-06-30 06921244 core:RetainedEarningsAccumulatedLosses 2023-06-30 06921244 core:ShareCapital 2023-06-30 06921244 core:CurrentFinancialInstruments 2023-06-30 06921244 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06921244 core:FurnitureFittingsToolsEquipment 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 06921244

HD Sourcing Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

HD Sourcing Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

HD Sourcing Limited

Company Information

Directors

Mr Roger Thomas Hughes

Mr Christopher John Cafferty

Company secretary

Mrs Marilyn Heather Hughes

Registered office

59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

Accountants

Scrutton Bland Limited
Chartered Accountants59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

 

HD Sourcing Limited

(Registration number: 06921244)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

479

727

Current assets

 

Debtors

5

5,332

4,152

Cash at bank and in hand

 

5,900

2,183

 

11,232

6,335

Creditors: Amounts falling due within one year

6

(12,284)

(3,869)

Net current (liabilities)/assets

 

(1,052)

2,466

Net (liabilities)/assets

 

(573)

3,193

Capital and reserves

 

Called up share capital

7

200

200

Retained earnings

(773)

2,993

Shareholders' (deficit)/funds

 

(573)

3,193

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 and 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 18 March 2025 and signed on its behalf by:
 

.........................................
Mr Roger Thomas Hughes
Director

.........................................
Mr Christopher John Cafferty
Director

 
     
 

HD Sourcing 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 and Wales.

The address of its registered office is:
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB
England

The principal place of business is:
2 Fair Green
Glemsford
Sudbury
Suffolk
CO10 7PH

These financial statements were authorised for issue by the Board on 18 March 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 are presented in the pound sterling, rounded to the nearest one pound.

Going concern

The balance sheet shows an excess of current liabilities over current assets of £1,052 and an overall deficit of £573, however, liabilities include £4,241 owing on loan accounts with the directors who have confirmed they will only seek repayment should the company's cash flow permit. The financial statements have therefore been prepared on a going concern basis.

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;
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.

 

HD Sourcing Limited

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

Foreign currency transactions and balances

Fees and commission received in foreign currencies are recorded at the exchange rates ruling at the dates of receipt. Amounts owing to the company at the reporting date are stated at the rates ruling at that date.

Tax

The tax expense for the period comprises current income tax and any overseas tax for which double tax relief is not available. 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. Turnover is stated before the deduction of withheld overseas tax for which double tax relief is claimed where possible with the current income tax liability being stated net of any such relief.

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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Office equipment

20%/35% per year on the reducing balance basis

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.

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.

3

Staff numbers

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

 

HD Sourcing Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

3,234

3,234

At 30 June 2024

3,234

3,234

Depreciation

At 1 July 2023

2,507

2,507

Charge for the year

248

248

At 30 June 2024

2,755

2,755

Carrying amount

At 30 June 2024

479

479

At 30 June 2023

727

727

 

HD Sourcing Limited

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

5

Debtors

Current

2024
£

2023
£

Trade debtors

4,441

4,059

Other debtors

891

93

 

5,332

4,152

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

480

480

Taxation and social security

532

1,077

Accruals and deferred income

7,031

254

Other creditors

4,241

2,058

12,284

3,869


Creditors include loan account balances owed to the directors and the company secretary totalling £4,241 (2023 - £2,058). These balances are repayable on demand and are interest-free.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

100

100

100

100

200

200

200

200