Hitex Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10940375 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Hitex Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

A E Powell

REGISTERED OFFICE:

Cloister Way

Ellesmere Port

Cheshire

CH65 4EL

REGISTERED NUMBER:

10940375 (England and Wales)

AUDITORS:

Haines Watts Liverpool Limited

Pacific Chambers

11-13 Victoria Street

Liverpool

Merseyside

L2 5QQ

FIXED ASSETS

Investments

4

31,454,857

CURRENT ASSETS

Debtors

5

-

4,197

CREDITORS

Amounts falling due within one year

6

11,086

4,783

NET CURRENT LIABILITIES

(11,086

)

(586

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

31,443,771

31,454,271

CAPITAL AND RESERVES

Called up share capital

7

610

Other reserves

31,454,253

Retained earnings

(11,092

)

(592

)

SHAREHOLDERS' FUNDS

31,443,771

31,454,271

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 July 2025 and were signed by:

A E Powell - Director

1.	STATUTORY INFORMATION

Hitex Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Hitex Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, MS Management GmbH, SWARCO AG,Blattenwaldweg 8,6112 Wattens, Austria.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at fair value at the date of acquisition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

31,454,857

NET BOOK VALUE

At 31 December 2024

31,454,857

At 31 December 2023

31,454,857

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed by group undertakings

-

4,197

Amounts owed from group undertakings are unsecured and bare quarterly interests at an average rate of 1.2% or are interest free.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed to group undertakings

5,539

-

Other creditors

5,547

4,783

11,086

4,783

Amounts owed to group undertakings are unsecured and bare quarterly interests at an average rate of 1.2% or are interest free.

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Nominal value:

31.12.23

31.12.22

£

606

Ordinary share capital

1

606

1

A Ordinary share capital

1

B Ordinary share capital

1

C Ordinary share capital

1

D Ordinary share capital

1

610

The company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company. All classes of share capital rank pari passu in all respects.

The company's A, B, C and D ordinary shares, which carry no right to fixed income, do not carry the right to vote at general meetings of the company.

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Timothy Cherry, FCCA (Senior Statutory Auditor)

for and on behalf of Haines Watts Liverpool Limited

9.	ULTIMATE CONTROLLING PARTY

On 25 October 2021 Swarco AG purchased the entire share capital of Hitex Holdings Limited. Following this, MS Management GmbH, a company incorporated in Austria became the ultimate parent company. Swarco AG is the only group of undertakings to consolidate these financial statements at 31 December 2024. The address is below;

SWARCO AG

Blattenwaldweg 8

6112 Wattens

Austria

The ultimate controlling party is the board of directors of MS Management GmbH by virtue of their shareholdings.