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REGISTERED NUMBER: 14082101 (England and Wales)








HCS EUROPEAN LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






HCS EUROPEAN LTD (REGISTERED NUMBER: 14082101)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

HCS EUROPEAN LTD

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTOR: A R Baker





REGISTERED OFFICE: Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR





REGISTERED NUMBER: 14082101 (England and Wales)





ACCOUNTANTS: Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR

HCS EUROPEAN LTD (REGISTERED NUMBER: 14082101)

BALANCE SHEET
31 May 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 4,814 5,414

CURRENT ASSETS
Debtors 5 36,497 52,971
Cash at bank 205 8,031
36,702 61,002
CREDITORS
Amounts falling due within one year 6 (114,428 ) (188,367 )
NET CURRENT LIABILITIES (77,726 ) (127,365 )
TOTAL ASSETS LESS CURRENT LIABILITIES (72,912 ) (121,951 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (72,913 ) (121,952 )
(72,912 ) (121,951 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 April 2025 and were signed by:





A R Baker - Director


HCS EUROPEAN LTD (REGISTERED NUMBER: 14082101)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024


1. STATUTORY INFORMATION

HCS European Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern
The financial statements have been prepared on a going concern basis. This is considered appropriate on the basis that the director and shareholder will continue to provide financial support to the company for the foreseeable future to enable the company to meet its liabilities as they fall due.

Turnover
Turnover comprises revenue recognised by the company in respect of the supply and installation of home cinema and audio equipment during the year, exclusive of Value Added Tax. Revenue is recognised upon completion of installations. Larger projects are invoiced depending on stage of completion in line with contractual agreements, and any income is deferred or accrued accordingly.

Tangible fixed assets
Tangible fixed assets are stated at their historical cost price less accumulated depreciation. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for use. The asset's residual values, useful lives and depreciation methods are reviewed if there is an indication of significant change since the last reporting date.

On disposal the difference between the net proceeds and carrying amount of the item sold is recognised in profit and loss and is included in administrative expenses.

Depreciation is provided on the following basis:

Plant and machinery - 20% on a straight line basis per annum.
Computer equipment - 33.3% on a straight line basis per annum.

Financial instruments
Financial instruments are classified by directors as basic or non-basic following the conditions on FRS 102 Section 11. Basic financial instruments are initially measured at transaction price and subsequently recognised at amortised cost using the effective interest method. The company does not have any financial non-basic instruments.

Taxation
Taxation for the year 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.


HCS EUROPEAN LTD (REGISTERED NUMBER: 14082101)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


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 year 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.

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.

Leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 June 2023 7,351
Additions 1,051
At 31 May 2024 8,402
DEPRECIATION
At 1 June 2023 1,937
Charge for year 1,651
At 31 May 2024 3,588
NET BOOK VALUE
At 31 May 2024 4,814
At 31 May 2023 5,414

HCS EUROPEAN LTD (REGISTERED NUMBER: 14082101)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 22,845 39,182
Other debtors 13,652 13,789
36,497 52,971

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 77,707 37,031
Taxation and social security 27,124 694
Other creditors 9,597 150,642
114,428 188,367

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 14,191 20,020
Between one and five years 4,979 20,291
19,170 40,311

8. RELATED PARTY DISCLOSURES

During the year advances of £240,841 were made to the director and repayments of £83,779 received by the company. At the year end the director owed the company £11,265 (2023: the company owed the director £145,797). Interest is charged on amounts overdrawn at the official HMRC rate for beneficial loan arrangements. Amounts overdrawn by the director are repayable upon demand.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HCS EUROPEAN LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HCS European Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of HCS European Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of HCS European Ltd and state those matters that we have agreed to state to the director of HCS European Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HCS European Ltd and its director for our work or for this report.

It is your duty to ensure that HCS European Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of HCS European Ltd. You consider that HCS European Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of HCS European Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report should not be regarded as suitable to be used or relied on by any other party wishing to acquire any rights against Bessler Hendrie LLP for any purpose or in any context. Any party, other than the Directors, who obtain access to this report or a copy and chooses to rely on this report (or any part of it) will do so at its own risk.






Bessler Hendrie LLP
Chartered Accountants
Ashbourne House
The Guildway
Old Portsmouth Road
Guildford
Surrey
GU3 1LR


8 April 2025