Registered number
14429124
HSP (Europe) Ltd
Report and Financial Statements
31 October 2024
HSP (Europe) Ltd
Registered number: 14429124
Directors' Report
The directors present their report and financial statements for the year ended 31 October 2024.
Principal activities
The company's principal activity during the period was the wholesale of construction products.
Directors
The following persons served as directors during the period :
Mr A M Khan
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 23 January 2025 and signed on its behalf.
Mr A M Khan
Director
HSP (Europe) Ltd
Profit and Loss Account
for the year ended 31 October 2024
2024 2023
£ £
Turnover 6,706,064 2,230,866
Cost of sales (5,945,192) (2,159,756)
Gross profit 760,872 71,110
Administrative expenses (227,339) (38,277)
Operating profit 533,533 32,833
Interest receivable - 4
Profit on ordinary activities before taxation 533,533 32,837
Tax on profit on ordinary activities (285) (6,239)
Profit for the financial year 533,248 26,598
HSP (Europe) Ltd
Registered number: 14429124
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 532,035 -
Current assets
Debtors 4 101,938 313,131
Cash at bank and in hand 102,682 1,287
204,620 314,418
Creditors: amounts falling due within one year 5 (174,069) (285,770)
Net current assets 30,551 28,648
Total assets less current liabilities 562,586 28,648
Creditors: amounts falling due after more than one year 6 (1,740) (1,050)
Net assets 560,846 27,598
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 559,846 26,598
Shareholder's funds 560,846 27,598
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A M Khan
Director
Approved by the board on 23 January 2025
HSP (Europe) Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and Machinery Total
£ £
Cost
Additions 625,923 625,923
At 31 October 2024 625,923 625,923
Depreciation
Charge for the year 93,888 93,888
At 31 October 2024 93,888 93,888
Net book value
At 31 October 2024 532,035 532,035
4 Debtors 2024 2023
£ £
Trade debtors 100,938 310,339
Other debtors - 1,792
101,938 313,131
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 149,581 279,531
Corporation tax 285 6,239
Other taxes and social security costs 23,036 -
Other creditors 1,167 -
174,069 285,770
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 1,740 1,050
1,740 1,050
7 Other information
HSP (Europe) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Maplebank Farm
Knatts Valley Road
Farningham
Kent
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