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REGISTERED NUMBER: 03293071 (England and Wales)












HITALTECH U.K. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






HITALTECH U.K. LIMITED (REGISTERED NUMBER: 03293071)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HITALTECH U.K. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr A J Fitzer
Mr F Massimo
Mr J N R Lunden de Biolley



SECRETARY: Mr A J Fitzer



REGISTERED OFFICE: Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB



REGISTERED NUMBER: 03293071 (England and Wales)



ACCOUNTANTS: Rushtons
Chartered Accountants
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB



BANKERS: National Westminster Bank plc
35 Fishergate
Preston
Lancashire
PR1 3BH

HITALTECH U.K. LIMITED (REGISTERED NUMBER: 03293071)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 150,159 151,198

CURRENT ASSETS
Stocks 5 449,599 730,381
Debtors 6 868,991 1,093,497
Cash at bank and in hand 456,318 168,797
1,774,908 1,992,675
CREDITORS
Amounts falling due within one year 7 670,770 783,472
NET CURRENT ASSETS 1,104,138 1,209,203
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,254,297

1,360,401

PROVISIONS FOR LIABILITIES 25,297 25,557
NET ASSETS 1,229,000 1,334,844

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,228,000 1,333,844
SHAREHOLDERS' FUNDS 1,229,000 1,334,844

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

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

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.

HITALTECH U.K. LIMITED (REGISTERED NUMBER: 03293071)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:




Mr A J Fitzer - Director Mr F Massimo - Director




Mr J N R Lunden de Biolley - Director


HITALTECH U.K. LIMITED (REGISTERED NUMBER: 03293071)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Hitaltech U.K. Limited 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.

The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover represents net invoiced value of goods supplied, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Computer equipment - 25% on cost
Fixtures and fittings - 15% on reducing balance
Plant and machinery - 20% on cost
Office equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


HITALTECH U.K. LIMITED (REGISTERED NUMBER: 03293071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Foreign currencies
Transactions expressed in foreign currencies are translated into sterling and recorded at rates of exchange approximating to those ruling at the date of the transaction. Monetary assets and liabilities are translated at rates ruling at the balance sheet date. All differences are taken to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

HITALTECH U.K. LIMITED (REGISTERED NUMBER: 03293071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Computer and
property equipment fittings
£    £    £   
COST
At 1 January 2024 132,653 84,284 67,731
Additions 1,649 2,315 -
Disposals - - -
At 31 December 2024 134,302 86,599 67,731
DEPRECIATION
At 1 January 2024 19,184 61,065 55,897
Charge for year 12,747 11,000 1,775
Eliminated on disposal - - -
At 31 December 2024 31,931 72,065 57,672
NET BOOK VALUE
At 31 December 2024 102,371 14,534 10,059
At 31 December 2023 113,469 23,219 11,834

Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 January 2024 88,507 32,575 405,750
Additions 26,467 467 30,898
Disposals (525 ) - (525 )
At 31 December 2024 114,449 33,042 436,123
DEPRECIATION
At 1 January 2024 87,042 31,364 254,552
Charge for year 5,581 335 31,438
Eliminated on disposal (26 ) - (26 )
At 31 December 2024 92,597 31,699 285,964
NET BOOK VALUE
At 31 December 2024 21,852 1,343 150,159
At 31 December 2023 1,465 1,211 151,198

HITALTECH U.K. LIMITED (REGISTERED NUMBER: 03293071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. STOCKS
2024 2023
£    £   
Stock of goods for re-sale 445,005 726,955
Stock of stationery 4,594 3,426
449,599 730,381

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 802,300 1,036,160
Prepayments and accrued income 66,691 57,337
868,991 1,093,497

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 511,801 531,592
Tax 29,876 74,208
Social security and other taxes 14,525 15,982
VAT 100,012 134,136
Accrued expenses 14,556 27,554
670,770 783,472

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 2,331
Between one and five years 112,460 49,910
112,460 52,241

HITALTECH U.K. LIMITED (REGISTERED NUMBER: 03293071)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. RELATED PARTY DISCLOSURES

Hitaltech UK Limited was a 74% subsidiary of S.A. Hitaltech NV until 18 March 2014. S.A. Hitaltech NV retained a minority shareholding in Hitaltech UK Limited at the year end.

During the year, the company had the following transactions with S.A. Hitaltech NV:-

2024 2023
£ £
Turnover 13,422 9,270
Cost of sales 25,154 57,970

As at 31 December 2024, the company had the following balances with S.A. Hitaltech NV:-
2024 2023
£ £
Debtor 263 196
Creditor 2,474 -

Dividends paid during the year include the following amounts which were paid to related parties:-
2024 2023
£ £

Dividends paid

200,000


200,000

Rent of £35,000 (2023: £35,000) was paid to a partnership of which Mr A J Fitzer and Mr F Massimo are partners.