HANKUK COMPOSITE UK LTD

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: 12465743

		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		31,161		-

			31,161		-
CURRENT ASSETS
Debtors	5	263,660		47,874
Cash at bank and in hand		78,473		68,790

		342,133		116,664
Creditors: Amounts Falling Due Within One Year		(99,176 )		(20,588 )

NET CURRENT ASSETS (LIABILITIES)			242,957		96,076

TOTAL ASSETS LESS CURRENT LIABILITIES			274,118		96,076

Creditors: Amounts Falling Due After More Than One Year			(31,902 )		-

NET ASSETS			242,216		96,076

CAPITAL AND RESERVES
Called up share capital	6		890,000		640,000
Profit and Loss Account			(647,784 )		(543,924 )

SHAREHOLDERS' FUNDS			242,216		96,076

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HANKUK COMPOSITE UK LTD

Abridged Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 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 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Paul Gallen

Director

13/03/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

HANKUK COMPOSITE UK LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12465743 . The registered office is Unit H12 Boscombe Industrial Estate SEvern Road, Hallen, Bristol, BS10 7SB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold

Over lease term

2.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 3)

4. Tangible Assets

	Total
	£
Cost
As at 1 January 2024	-
Additions	43,992

As at 31 December 2024	43,992

Depreciation
As at 1 January 2024	-
Provided during the period	12,831

As at 31 December 2024	12,831

Net Book Value
As at 31 December 2024	31,161

As at 1 January 2024	-

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HANKUK COMPOSITE UK LTD

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023 as restated
	£	£
Due after more than one year
Amounts recoverable on contracts	9,181	2,638

6. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	890,000	640,000

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