BrightAccountsProduction v1.0.0 v1.0.0 2023-06-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of suspended ceilings. 21 May 2025 3 3 NI617151 2024-05-31 NI617151 2023-05-31 NI617151 2022-05-31 NI617151 2023-06-01 2024-05-31 NI617151 2022-06-01 2023-05-31 NI617151 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI617151 uk-curr:PoundSterling 2023-06-01 2024-05-31 NI617151 uk-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI617151 uk-bus:FullAccounts 2023-06-01 2024-05-31 NI617151 uk-core:ShareCapital 2024-05-31 NI617151 uk-core:ShareCapital 2023-05-31 NI617151 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI617151 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI617151 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI617151 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 NI617151 uk-bus:FRS102 2023-06-01 2024-05-31 NI617151 uk-core:LandBuildings 2023-06-01 2024-05-31 NI617151 uk-core:PlantMachinery 2023-06-01 2024-05-31 NI617151 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 NI617151 uk-core:CurrentFinancialInstruments 2024-05-31 NI617151 uk-core:CurrentFinancialInstruments 2023-05-31 NI617151 uk-core:WithinOneYear 2024-05-31 NI617151 uk-core:WithinOneYear 2023-05-31 NI617151 uk-core:WithinOneYear 2024-05-31 NI617151 uk-core:WithinOneYear 2023-05-31 NI617151 uk-core:AfterOneYear 2024-05-31 NI617151 uk-core:AfterOneYear 2023-05-31 NI617151 uk-core:BetweenOneTwoYears 2024-05-31 NI617151 uk-core:BetweenOneTwoYears 2023-05-31 NI617151 uk-core:BetweenTwoFiveYears 2024-05-31 NI617151 uk-core:BetweenTwoFiveYears 2023-05-31 NI617151 uk-core:MoreThanFiveYears 2024-05-31 NI617151 uk-core:MoreThanFiveYears 2023-05-31 NI617151 uk-core:EmployeeBenefits 2023-05-31 NI617151 uk-core:EmployeeBenefits 2023-06-01 2024-05-31 NI617151 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-05-31 NI617151 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-05-31 NI617151 uk-core:OtherDeferredTax 2024-05-31 NI617151 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-05-31 NI617151 uk-core:EmployeeBenefits 2024-05-31 NI617151 2023-06-01 2024-05-31 NI617151 uk-bus:Director1 2023-06-01 2024-05-31 NI617151 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI617151
 
 
Hitec Solutions (IRE) Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 May 2024
Hitec Solutions (IRE) Ltd
Company Registration Number: NI617151
BALANCE SHEET
as at 31 May 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 134,602 142,458
───────── ─────────
 
Current Assets
Debtors 5 60,968 14,323
Cash and cash equivalents 360 79
───────── ─────────
61,328 14,402
───────── ─────────
Creditors: amounts falling due within one year 6 (140,828) (106,802)
───────── ─────────
Net Current Liabilities (79,500) (92,400)
───────── ─────────
Total Assets less Current Liabilities 55,102 50,058
 
Creditors:
amounts falling due after more than one year 7 (49,315) (42,388)
 
Provisions for liabilities 9 (102) (129)
───────── ─────────
Net Assets 5,685 7,541
═════════ ═════════
 
Capital and Reserves
Called up share capital 10 10
Retained earnings 5,675 7,531
───────── ─────────
Equity attributable to owners of the company 5,685 7,541
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 21 May 2025
           
           
________________________________          
Michael Bradley          
Director          
           



Hitec Solutions (IRE) Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. General Information
 
Hitec Solutions (IRE) Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI617151. The registered office of the company is 44a Inisclan Road, Mountfield, Omagh, Co Tyrone, BT79 7QB, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is that of suspended ceilings. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 May 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 25% Straight line
  Fixtures, fittings and equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 3, (2023 - 3).
 
  2024 2023
  Number Number
 
Employees 3 3
  ═════════ ═════════
           
4. Tangible assets
  Land and Plant and Fixtures, Total
  buildings machinery fittings and  
  freehold   equipment  
  £ £ £ £
Cost
At 1 June 2023 139,602 46,786 24,192 210,580
Additions - - 520 520
  ───────── ───────── ───────── ─────────
At 31 May 2024 139,602 46,786 24,712 211,100
  ───────── ───────── ───────── ─────────
Depreciation
At 1 June 2023 10,584 46,786 10,752 68,122
Charge for the financial year 5,584 - 2,792 8,376
  ───────── ───────── ───────── ─────────
At 31 May 2024 16,168 46,786 13,544 76,498
  ───────── ───────── ───────── ─────────
Net book value
At 31 May 2024 123,434 - 11,168 134,602
  ═════════ ═════════ ═════════ ═════════
At 31 May 2023 129,018 - 13,440 142,458
  ═════════ ═════════ ═════════ ═════════
       
5. Debtors 2024 2023
  £ £
 
Trade debtors 58,127 5,466
Amounts owed by connected parties (Note 11) 300 -
Other debtors 2,541 8,857
  ───────── ─────────
  60,968 14,323
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 23,956 20,048
Bank loan - 5,725
Trade creditors 21,487 22,001
Taxation  (Note 8) 32,205 37,650
Director's current account 28,945 14,001
Other creditors 25,173 -
Accruals:
Pension accrual 5,062 3,377
Other accruals 4,000 4,000
  ───────── ─────────
  140,828 106,802
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 49,315 42,388
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 6) 23,956 25,773
Repayable between one and two years 11,450 5,725
Repayable between two and five years 17,175 17,174
Repayable in five years or more 20,690 19,489
  ───────── ─────────
  73,271 68,161
  ═════════ ═════════
 
       
8. Taxation 2024 2023
  £ £
 
Creditors:
VAT 7,513 6,381
Corporation tax 16,278 15,323
PAYE / NI 8,414 15,946
  ───────── ─────────
  32,205 37,650
  ═════════ ═════════
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 129 129 80
Charged to profit and loss (27) (27) 49
  ───────── ───────── ─────────
At financial year end 102 102 129
  ═════════ ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 May 2024.
           
11. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
ORIG Ltd 300 300 - -
  ═════════ ═════════ ═════════ ═════════
 
During the year, the company loaned £300 to a connected company, ORIG Ltd. This is included in the debtors section of the balance sheet.

At the start of the year, Hitec Solutions (IRE) Ltd owed the director £14,001. During the year, the company borrowed £74,362 and repaid £59,418 to the director leaving a closing balance of £28,945 owed to the director at the year end. This is included in the creditors section of the balance sheet.
   
12. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.