Registered number
14414946
HiQ Marine Services UK Ltd
Filleted Accounts
31 October 2024
HiQ Marine Services UK Ltd
Registered number: 14414946
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,463 5,153
Current assets
Stocks 1,700 1,500
Cash at bank and in hand 20,580 5,879
22,280 7,379
Creditors: amounts falling due within one year 4 (8,736) (14,064)
Net current assets/(liabilities) 13,544 (6,685)
Net assets/(liabilities) 17,007 (1,532)
Capital and reserves
Called up share capital 2 2
Profit and loss account 17,005 (1,534)
Shareholders' funds 17,007 (1,532)
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 members have 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.
G Korudov
Director
Approved by the board on 13 May 2025
HiQ Marine Services UK Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
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 rendering of services. 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:
Motor Vehicles 20% Reducing Balance
Plant and machinery 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 399 5,295 5,694
Additions 200 - 200
At 31 October 2024 599 5,295 5,894
Depreciation
At 1 November 2023 100 441 541
Charge for the year 125 1,765 1,890
At 31 October 2024 225 2,206 2,431
Net book value
At 31 October 2024 374 3,089 3,463
At 31 October 2023 299 4,854 5,153
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 5,242 -
Other creditors 3,494 14,064
8,736 14,064
5 Other information
HiQ Marine Services UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
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