Hotset UK Limited 31/12/2024 iXBRL

Company registration number: 2840683

Hotset UK Limited

Unaudited filleted financial statements

Period 1 October 2023 to

31 December 2024

Hotset UK Limited

Contents

Balance sheet

Notes to the financial statements

Hotset UK Limited

Balance sheet

31 December 2024

		31/12/24		30/09/23
	Note	£	£	£	£

Fixed assets
Tangible assets	5	325,162		284,060
		_________		_________
			325,162		284,060

Current assets
Stocks		50,179		97,456
Debtors	6	269,239		351,587
Cash at bank and in hand		336,892		146,972
		_________		_________
		656,310		596,015
Creditors: amounts falling due
within one year	7	( 242,489)		( 150,281)
		_________		_________
Net current assets			413,821		445,734
			_________		_________
Total assets less current liabilities			738,983		729,794

Creditors: amounts falling due
after more than one year	8		-		( 4,889)

Provisions for liabilities	9		( 10,181)		( 7,356)

			_________		_________
Net assets			728,802		717,549
			_________		_________

Capital and reserves
Called up share capital	11		1,090		1,090
Profit and loss account			727,712		716,459
			_________		_________
Shareholders funds			728,802		717,549
			_________		_________

For the period 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 period 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 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 Profit and Loss Account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:

............................................... ...............................................

Mr Ralf Michael Schwarzkopf Mr Daniel Philipp Honsel

Director Director

Company registration number: 2840683

Hotset UK Limited

Notes to the financial statements

Period 1 October 2023

to 31 December 2024

1. General information

The company is a private company limited by shares, registered in the United Kingdom. The address of the registered office is Unit 1, Penallta Industrial Estate, Ystrad Mynach, Mid Glamorgan, CF82 7QZ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Leasehold property	-	Straight line over term of lease
Plant and machinery	-	20 %	reducing balance
Fixtures and equipment	-	25 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

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 stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance Sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

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. All of the financial instruments applicable to the company are considered to be basic, as defined in the Accounting Standard, and as such are initially recognised at the transaction price. 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 period amounted to 24 (2023: 24 ).

5. Tangible assets

	Freehold and leasehold properties	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 October 2023	253,496	310,631	93,529	63,212	720,868
Additions	-	39,147	-	72,564	111,711
Disposals	-	-	-	( 63,212)	( 63,212)
	_________	_________	_________	_________	_________
At 31 December 2024	253,496	349,778	93,529	72,564	769,367
	_________	_________	_________	_________	_________
Depreciation
At 1 October 2023	75,973	249,031	76,425	35,379	436,808
Charge for the year	5,727	20,328	5,345	15,449	46,849
Disposals	-	-	-	( 39,452)	( 39,452)
	_________	_________	_________	_________	_________
At 31 December 2024	81,700	269,359	81,770	11,376	444,205
	_________	_________	_________	_________	_________
Carrying amount
At 31 December 2024	171,796	80,419	11,759	61,188	325,162
	_________	_________	_________	_________	_________
At 30 September 2023	177,523	61,600	17,104	27,833	284,060
	_________	_________	_________	_________	_________

Obligations under finance leases

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:


		Motor vehicles
		£
	At 31 December 2024	-
		_________
	At 30 September 2023	26,509
		_________

6. Debtors

	31/12/24	30/09/23
	£	£
Trade debtors	261,868	280,497
Prepayments and accrued income	7,371	20,590
Other debtors	-	50,500
	_________	_________
	269,239	351,587
	_________	_________

7. Creditors: amounts falling due within one year

	31/12/24	30/09/23
	£	£
Trade creditors	37,841	35,532
Accruals and deferred income	5,000	2,500
Social security and other taxes	196,544	86,291
Obligations under finance leases	-	23,818
Other creditors	8,104	28,458
	_________	_________
	242,489	150,281
	_________	_________

8. Creditors: amounts falling due after more than one year

	31/12/24	30/09/23
	£	£
Other creditors	-	4,889
	_________	_________

9. Provisions

	Deferred tax (note 10)	Total
	£	£
At 1 October 2023	7,356	7,356
Additions	2,825	2,825
	_________	_________
At 31 December 2024	10,181	10,181
	_________	_________

10. Deferred tax

The deferred tax included in the Balance Sheet is as follows:

	31/12/24	30/09/23
	£	£
Included in provisions (note 9)	10,181	7,356
	_________	_________

The deferred tax account consists of the tax effect of timing differences in respect of:

	31/12/24	30/09/23
	£	£
Accelerated capital allowances	10,181	7,356
	_________	_________

11. Called up share capital

Authorised share capital

	31/12/24		30/09/23
	No	£	No	£
Ordinary shares of £ 1.00 each	95,000	95,000	95,000	95,000
Ordinary A shares of £ 1.00 each	5,000	5,000	5,000	5,000
	_________	_________	_________	_________
	100,000	100,000	100,000	100,000
	_________	_________	_________	_________

Issued, called up and fully paid

	31/12/24		30/09/23
	No	£	No	£
Ordinary shares of £ 1.00 each	90	90	90	90
Ordinary A shares of £ 1.00 each	1,000	1,000	1,000	1,000
	_________	_________	_________	_________
	1,090	1,090	1,090	1,090
	_________	_________	_________	_________