Company registration number 07915757 (England and Wales)
HPC (SOUTH) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
HPC (SOUTH) LIMITED
CONTENTS
Page
Balance sheet
4 - 5
Notes to the financial statements
6 - 10
HPC (SOUTH) LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -

The director presents his annual report and financial statements for the year ended 31 January 2025.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

R J Stock
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
R J Stock
Director
29 May 2025
HPC (SOUTH) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HPC (SOUTH) LIMITED FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HPC (South) Limited for the year ended 31 January 2025 set out on pages 4 to 10 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of HPC (South) Limited, as a body, in accordance with the terms of our engagement letter dated 17 September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of HPC (South) Limited and state those matters that we have agreed to state to the board of directors of HPC (South) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HPC (South) Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that HPC (South) Limited 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 HPC (South) Limited. You consider that HPC (South) Limited 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 HPC (South) Limited. 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.

Myers Clark
Chartered Accountants
Suite 7A, Building 6
Croxley Park, Hatters Lane
Watford
Hertfordshire
WD18 8YH
5 June 2025
HPC (SOUTH) LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
2025
2024
£
£
Turnover
286,208
300,633
Cost of sales
(96,667)
(90,595)
Gross profit
189,541
210,038
Administrative expenses
(183,291)
(188,138)
Operating profit
6,250
21,900
Interest receivable and similar income
-
0
(34)
Interest payable and similar expenses
(510)
(1,616)
Profit before taxation
5,740
20,250
Tax on profit
(1,090)
(3,848)
Profit for the financial year
4,650
16,402
Retained earnings brought forward
64,938
53,536
Dividends
(2,000)
(5,000)
Retained earnings carried forward
67,588
64,938

The profit and loss account has been prepared on the basis that all operations are continuing operations.

HPC (SOUTH) LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 4 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
4,262
5,266
Current assets
Stocks
5,411
5,962
Debtors
5
79,212
76,161
Cash at bank and in hand
32,743
34,094
117,366
116,217
Creditors: amounts falling due within one year
6
(49,226)
(41,402)
Net current assets
68,140
74,815
Total assets less current liabilities
72,402
80,081
Creditors: amounts falling due after more than one year
7
(3,904)
(14,042)
Provisions for liabilities
(810)
(1,001)
Net assets
67,688
65,038
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
67,588
64,938
Total equity
67,688
65,038
HPC (SOUTH) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 5 -

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 29 May 2025
R J Stock
Director
Company registration number 07915757 (England and Wales)
HPC (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
1
Accounting policies
Company information

HPC (South) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit K6, Cherrycourt Way, Leighton Buzzard, Bedfordshire, LU7 4UH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable net of VAT and trade discounts, of good provided to customers. Turnover is recognised after the delivery of goods to the customer has been completed.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
Straight line over 5 years
Fixtures, fittings & equipment
Straight line over 4 years
Motor vehicles
Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HPC (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 7 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

HPC (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024
88,649
Additions
1,875
At 31 January 2025
90,524
Depreciation and impairment
At 1 February 2024
83,383
Depreciation charged in the year
2,879
At 31 January 2025
86,262
Carrying amount
At 31 January 2025
4,262
At 31 January 2024
5,266
HPC (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 9 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
49,359
46,296
Other debtors
29,853
29,865
79,212
76,161
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
10,000
Trade creditors
29,751
21,612
Corporation tax
1,281
4,344
Other taxation and social security
6,894
4,196
Other creditors
1,300
1,250
49,226
41,402
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,904
14,042
8
Loans and overdrafts
2025
2024
£
£
Bank loans
13,904
24,042
Payable within one year
10,000
10,000
Payable after one year
3,904
14,042

The long-term loans are not secured by fixed charges.

The loan payable has fixed interest rate of 2.5% per annum and is payable within six years of the introduction of the loan. The company's first monthly repayment date starts one year after the introduction as the Government will pay interest and capital for the first year of the loan. This means that the monthly repayment amount are based on the loan being repaid over 5 years. There are no restrictions imposed on the company by the loan.

HPC (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 10 -
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
10
Operating lease commitments

Operating lease commitments represent rentals payable by the company for its property.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
76,998
123,197
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