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Company No: 02046903 (England and Wales)

HCR LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

HCR LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

HCR LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
HCR LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTORS N Jesus-Oakes
A C Leach
REGISTERED OFFICE 8th Floor
Network House
Basing View
Basingstoke
RG21 4HG
United Kingdom
COMPANY NUMBER 02046903 (England and Wales)
ACCOUNTANT S&W Partners LLP
4th Floor Cumberland House
15-17 Cumberland Place
Southampton
Hampshire
SO15 2BG
HCR LIMITED

BALANCE SHEET

As at 30 September 2024
HCR LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 14,899 29,128
Tangible assets 4 14,560 751
Investments 5 2 2
29,461 29,881
Current assets
Debtors 6 1,767,087 2,066,216
Cash at bank and in hand 981,099 625,884
2,748,186 2,692,100
Creditors: amounts falling due within one year 7 ( 1,070,211) ( 1,172,117)
Net current assets 1,677,975 1,519,983
Total assets less current liabilities 1,707,436 1,549,864
Provision for liabilities 8 ( 6,750) ( 6,750)
Net assets 1,700,686 1,543,114
Capital and reserves
Called-up share capital 1 1
Profit and loss account 1,700,685 1,543,113
Total shareholder's funds 1,700,686 1,543,114

For the financial 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.

Directors' responsibilities:

The financial statements of HCR Limited (registered number: 02046903) were approved and authorised for issue by the Board of Directors on 21 June 2025. They were signed on its behalf by:

N Jesus-Oakes
Director
HCR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
HCR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

HCR Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8th Floor, Network House, Basing View, RG21 4HG, Basingstoke, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of HCR Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Exemption from preparing consolidated financial statements

The Company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise on monetary items.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of turnover can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Where the Company collects income as agent, this revenue is not included within turnover. Recharged expenses are therefore not included in turnover.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Fixed asset investments

Investments in subsidiaries are measured at cost less accumulated impairment

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 12

3. Intangible assets

Development costs Total
£ £
Cost
At 01 October 2023 167,275 167,275
At 30 September 2024 167,275 167,275
Accumulated amortisation
At 01 October 2023 138,147 138,147
Charge for the financial year 14,229 14,229
At 30 September 2024 152,376 152,376
Net book value
At 30 September 2024 14,899 14,899
At 30 September 2023 29,128 29,128

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2023 101,662 101,662
Additions 18,463 18,463
Disposals ( 38,593) ( 38,593)
At 30 September 2024 81,532 81,532
Accumulated depreciation
At 01 October 2023 100,911 100,911
Charge for the financial year 4,654 4,654
Disposals ( 38,593) ( 38,593)
At 30 September 2024 66,972 66,972
Net book value
At 30 September 2024 14,560 14,560
At 30 September 2023 751 751

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 October 2023 2 2
At 30 September 2024 2 2
Carrying value at 30 September 2024 2 2
Carrying value at 30 September 2023 2 2

6. Debtors

2024 2023
£ £
Trade debtors 1,130,427 1,454,095
Amounts owed by Group undertakings (note 10) 436,827 436,827
Prepayments 118,555 96,214
Deferred tax asset 6,222 4,562
Other debtors 75,056 74,518
1,767,087 2,066,216

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 213,033 351,926
Amounts owed to Group undertakings (note 10) 16,054 10,194
Accruals and deferred income 570,948 352,201
Taxation and social security 120,336 142,138
Other creditors 149,840 315,658
1,070,211 1,172,117

8. Provision for liabilities

2024 2023
£ £
Other provisions 6,750 6,750

9. Deferred tax

2024 2023
£ £
At the beginning of financial year 4,562 ( 45)
Credited to the Profit and Loss Account 1,660 4,607
At the end of financial year 6,222 4,562

10. Related party transactions

The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.

11. Ultimate controlling party

Parent Company:

HCR Group Ltd
8th Floor, Network House, Basing View, Basingstoke, Hampshire, England, RG21 4HG