Silverfin false false 31/01/2025 01/02/2024 31/01/2025 C C Gibbons 11/05/2012 C J Reeves 15/01/2025 H Reeves 14/05/2012 10 June 2025 The principal activity of the company was that of the wholesale of jewellery. 08066462 2025-01-31 08066462 bus:Director1 2025-01-31 08066462 bus:Director2 2025-01-31 08066462 bus:Director3 2025-01-31 08066462 2024-01-31 08066462 core:CurrentFinancialInstruments 2025-01-31 08066462 core:CurrentFinancialInstruments 2024-01-31 08066462 core:ShareCapital 2025-01-31 08066462 core:ShareCapital 2024-01-31 08066462 core:RetainedEarningsAccumulatedLosses 2025-01-31 08066462 core:RetainedEarningsAccumulatedLosses 2024-01-31 08066462 core:PlantMachinery 2024-01-31 08066462 core:Vehicles 2024-01-31 08066462 core:OfficeEquipment 2024-01-31 08066462 core:PlantMachinery 2025-01-31 08066462 core:Vehicles 2025-01-31 08066462 core:OfficeEquipment 2025-01-31 08066462 core:CostValuation 2024-01-31 08066462 core:CostValuation 2025-01-31 08066462 core:WithinOneYear 2025-01-31 08066462 core:WithinOneYear 2024-01-31 08066462 core:BetweenOneFiveYears 2025-01-31 08066462 core:BetweenOneFiveYears 2024-01-31 08066462 2024-02-01 2025-01-31 08066462 bus:FilletedAccounts 2024-02-01 2025-01-31 08066462 bus:SmallEntities 2024-02-01 2025-01-31 08066462 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 08066462 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 08066462 bus:Director1 2024-02-01 2025-01-31 08066462 bus:Director2 2024-02-01 2025-01-31 08066462 bus:Director3 2024-02-01 2025-01-31 08066462 core:PlantMachinery core:TopRangeValue 2024-02-01 2025-01-31 08066462 core:Vehicles 2024-02-01 2025-01-31 08066462 core:OfficeEquipment core:TopRangeValue 2024-02-01 2025-01-31 08066462 2023-02-01 2024-01-31 08066462 core:PlantMachinery 2024-02-01 2025-01-31 08066462 core:OfficeEquipment 2024-02-01 2025-01-31 iso4217:GBP xbrli:pure

Company No: 08066462 (England and Wales)

H C R TRADING LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

H C R TRADING LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

H C R TRADING LIMITED

BALANCE SHEET

As at 31 January 2025
H C R TRADING LIMITED

BALANCE SHEET (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 20,357 11,410
Investments 4 100 100
20,457 11,510
Current assets
Stocks 116,963 143,998
Debtors 5 69,191 62,982
Cash at bank and in hand 6 105,675 96,670
291,829 303,650
Creditors: amounts falling due within one year 7 ( 67,124) ( 45,149)
Net current assets 224,705 258,501
Total assets less current liabilities 245,162 270,011
Provision for liabilities ( 5,054) ( 2,800)
Net assets 240,108 267,211
Capital and reserves
Called-up share capital 10 10
Profit and loss account 240,098 267,201
Total shareholders' funds 240,108 267,211

For the financial year ending 31 January 2025 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 H C R Trading Limited (registered number: 08066462) were approved and authorised for issue by the Board of Directors on 10 June 2025. They were signed on its behalf by:

H Reeves
Director
C J Reeves
Director
H C R TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
H C R TRADING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
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

H C R Trading 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 Albert Goodman, Lupin Way, Yeovil, BA22 8WW, United Kingdom. The principal place of business is Unit 3, The Old Sawmills, Forde Abbey, Chard, Somerset, TA20 4LT.

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

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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 Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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 liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. 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 5 years straight line
Vehicles 20 % reducing balance
Office equipment 5 years straight line

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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

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 creditors: amounts falling due within one year.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination.

When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 8

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 February 2024 14,697 0 25,216 39,913
Additions 941 13,500 ( 83) 14,358
At 31 January 2025 15,638 13,500 25,133 54,271
Accumulated depreciation
At 01 February 2024 9,296 0 19,207 28,503
Charge for the financial year 1,728 1,800 1,883 5,411
At 31 January 2025 11,024 1,800 21,090 33,914
Net book value
At 31 January 2025 4,614 11,700 4,043 20,357
At 31 January 2024 5,401 0 6,009 11,410

4. Fixed asset investments

Investments in subsidiaries

2025
£
Cost
At 01 February 2024 100
At 31 January 2025 100
Carrying value at 31 January 2025 100
Carrying value at 31 January 2024 100

5. Debtors

2025 2024
£ £
Trade debtors 45,313 43,379
Prepayments 23,878 19,603
69,191 62,982

6. Cash and cash equivalents

2025 2024
£ £
Cash at bank and in hand 10,124 6,998
Short-term deposits 95,551 89,672
105,675 96,670

7. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 13,374 4,161
Amounts owed to directors 21,205 12,453
Accruals 4,605 5,064
Taxation and social security 22,563 18,042
Other creditors 5,377 5,429
67,124 45,149

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 9,360 8,730
between one and five years 33,540 42,900
42,900 51,630

9. Related party transactions

Transactions with the entity's directors

The joint director and shareholders' loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 per director and shareholder at the official HMRC rates.

At 1 February 2024, the balance owed from the directors was £nil. During the year, the company made advances to directors amounting to £4,926 and received repayments of £4,926 leaving a balance due from the directors of £nil.

At 1 February 2023, the balance owed from the directors was £2,494. During the year, the company made advances to directors amounting to £nil and received repayments of £2,494 leaving a balance due from the directors of £nil.