32 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 73,709 73,709 73,709 xbrli:pure xbrli:shares iso4217:GBP 03844513 2023-10-01 2024-09-30 03844513 2024-09-30 03844513 2023-09-30 03844513 2022-10-01 2023-09-30 03844513 2023-09-30 03844513 2022-09-30 03844513 core:PlantMachinery 2023-10-01 2024-09-30 03844513 core:FurnitureFittings 2023-10-01 2024-09-30 03844513 core:MotorVehicles 2023-10-01 2024-09-30 03844513 bus:Director1 2023-10-01 2024-09-30 03844513 core:LandBuildings 2023-09-30 03844513 core:PlantMachinery 2023-09-30 03844513 core:FurnitureFittings 2023-09-30 03844513 core:MotorVehicles 2023-09-30 03844513 core:LandBuildings 2024-09-30 03844513 core:PlantMachinery 2024-09-30 03844513 core:FurnitureFittings 2024-09-30 03844513 core:MotorVehicles 2024-09-30 03844513 core:LandBuildings 2023-10-01 2024-09-30 03844513 core:WithinOneYear 2024-09-30 03844513 core:WithinOneYear 2023-09-30 03844513 core:AfterOneYear 2024-09-30 03844513 core:AfterOneYear 2023-09-30 03844513 core:ShareCapital 2024-09-30 03844513 core:ShareCapital 2023-09-30 03844513 core:RetainedEarningsAccumulatedLosses 2024-09-30 03844513 core:RetainedEarningsAccumulatedLosses 2023-09-30 03844513 core:BetweenOneFiveYears 2023-09-30 03844513 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 03844513 core:Non-currentFinancialInstruments 2024-09-30 03844513 core:Non-currentFinancialInstruments 2023-09-30 03844513 core:LandBuildings 2023-09-30 03844513 core:PlantMachinery 2023-09-30 03844513 core:FurnitureFittings 2023-09-30 03844513 core:MotorVehicles 2023-09-30 03844513 bus:SmallEntities 2023-10-01 2024-09-30 03844513 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 03844513 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 03844513 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03844513 bus:FullAccounts 2023-10-01 2024-09-30 03844513 core:ComputerEquipment 2023-10-01 2024-09-30 03844513 core:ComputerEquipment 2023-09-30 03844513 core:ComputerEquipment 2024-09-30 03844513 core:OtherRelatedParties 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 03844513
HGL Dynamics Limited
Filleted Unaudited Financial Statements
30 September 2024
HGL Dynamics Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
945,587
863,035
Investments
6
73,709
73,709
------------
---------
1,019,296
936,744
Current assets
Stocks
304,260
99,434
Debtors
7
1,023,057
1,048,110
Cash at bank and in hand
272,248
563,422
------------
------------
1,599,565
1,710,966
Creditors: amounts falling due within one year
8
( 740,438)
( 807,517)
------------
------------
Net current assets
859,127
903,449
------------
------------
Total assets less current liabilities
1,878,423
1,840,193
Creditors: amounts falling due after more than one year
9
( 488,222)
( 544,860)
------------
------------
Net assets
1,390,201
1,295,333
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,390,101
1,295,233
------------
------------
Shareholders funds
1,390,201
1,295,333
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
HGL Dynamics Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 20 June 2025 , and are signed on behalf of the board by:
James Roth Hone
Director
Company registration number: 03844513
HGL Dynamics Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Little Barsden, Field Lane, Farncombe, Godalming, Surrey, GU7 3JT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 32 (2023: 30 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Oct 2023
666,596
748,981
13,896
41,141
36,291
1,506,905
Additions
137,394
6,052
8,835
152,281
Disposals
( 2,955)
( 2,955)
---------
---------
--------
--------
--------
------------
At 30 Sep 2024
803,990
746,026
19,948
41,141
45,126
1,656,231
---------
---------
--------
--------
--------
------------
Depreciation
At 1 Oct 2023
580,437
12,868
21,436
29,129
643,870
Charge for the year
16,080
41,397
1,770
4,927
5,332
69,506
Disposals
( 2,732)
( 2,732)
---------
---------
--------
--------
--------
------------
At 30 Sep 2024
16,080
619,102
14,638
26,363
34,461
710,644
---------
---------
--------
--------
--------
------------
Carrying amount
At 30 Sep 2024
787,910
126,924
5,310
14,778
10,665
945,587
---------
---------
--------
--------
--------
------------
At 30 Sep 2023
666,596
168,544
1,028
19,705
7,162
863,035
---------
---------
--------
--------
--------
------------
6. Investments
Shares in participating interests
£
Cost
At 1 October 2023 and 30 September 2024
73,709
--------
Impairment
At 1 October 2023 and 30 September 2024
--------
Carrying amount
At 30 September 2024
73,709
--------
At 30 September 2023
73,709
--------
7. Debtors
2024
2023
£
£
Trade debtors
736,124
756,369
Other debtors
286,933
291,741
------------
------------
1,023,057
1,048,110
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
71,119
71,121
Trade creditors
447,673
409,213
Social security and other taxes
28,771
24,800
Other creditors
192,875
302,383
---------
---------
740,438
807,517
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
418,756
452,706
Other creditors
69,466
92,154
---------
---------
488,222
544,860
---------
---------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
4,388
5,851
Later than 1 year and not later than 5 years
4,388
-------
--------
4,388
10,239
-------
--------
11. Related party transactions
During the year the company made sales to related parties of £2,757,378 (2023: £1,096,859) with £450,113 (2023: £300,204) due to the company at the balance sheet date. The company also made purchases from the related parties of £262,292 (2023: £140,752) and £259,539 (2023: £86,464) was due to related parties at the balance sheet date .