REGISTERED NUMBER: 12058585 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

HASTEC RAIL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P T Gray

Mr M Lees

Mr D Hughes

Mr M Lees

REGISTERED OFFICE:

Hastec Rail Units 1&2 Ace Business Park

Burley Close

Chesterfield

United Kingdom

S40 2UB

REGISTERED NUMBER:

12058585 (England and Wales)

ACCOUNTANTS:

Sutton McGrath Hartley Limited

5 Westbrook Court

Sharrowvale Road

Sheffield

S11 8YZ

FIXED ASSETS

Intangible assets

4

57,849

57,849

Tangible assets

5

9,393

12,523

67,242

70,372

CURRENT ASSETS

Stocks

70,127

93,069

Debtors

6

218,117

191,198

Cash at bank

187

5,506

288,431

289,773

CREDITORS

Amounts falling due within one year

7

206,698

974,086

NET CURRENT ASSETS/(LIABILITIES)

81,733

(684,313

)

TOTAL ASSETS LESS CURRENT LIABILITIES

148,975

(613,941

)

CREDITORS

Amounts falling due after more than one year

8

871,224

-

NET LIABILITIES

(722,249

)

(613,941

)

CAPITAL AND RESERVES

Called up share capital

9

6

6

Retained earnings

(722,255

)

(613,947

)

SHAREHOLDERS' FUNDS

(722,249

)

(613,941

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

Mr D Hughes - Director

1.	STATUTORY INFORMATION

Hastec Rail 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

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

The company has sufficient finance to control its cashflow and support its working capital requirements to enable future planned growth.

Having carried out a detailed review of the company's position and its forecasts to the date 12 months from the date of signing of these financial statements, the directors consider the company to have adequate resources to meet its liabilities as they fall due.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition. intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 August 2023

and 31 July 2024

57,849

NET BOOK VALUE

At 31 July 2024

57,849

At 31 July 2023

57,849

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2023

and 31 July 2024

5,338

5,417

13,607

24,362

DEPRECIATION

At 1 August 2023

1,848

2,310

7,681

11,839

Charge for year

872

777

1,481

3,130

At 31 July 2024

2,720

3,087

9,162

14,969

NET BOOK VALUE

At 31 July 2024

2,618

2,330

4,445

9,393

At 31 July 2023

3,490

3,107

5,926

12,523

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

44,599

72,180

VAT

77,509

58,242

Deferred tax asset

95,428

57,326

Prepayments and accrued income

581

3,450

218,117

191,198

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

32,180

93,507

Amounts owed to group undertakings

-

704,100

Social security and other taxes

-

3,240

Other creditors

166,300

132,291

Accrued expenses

8,218

40,948

206,698

974,086

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

871,224

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

6

Ordinary

£1

6

6

10.	RELATED PARTY DISCLOSURES

The following companies are related parties as they are under common control of one or all of the directors:

Elmec Solutions Ltd

As at 31 July 2024 the company owed £100,647 (2023: £37,573) to Elmec Solutions Ltd.

CK Rail Solutions Ltd

As at 31 July 2024 the company owed £152,040 (2023: £144,996) to CK Rail Solutions Ltd.

T.G. Beighton Ltd

As at 31 July 2024 the company owed £31,650 (2023: £1,236) to T.G. Beighton Ltd.

Turnoaks Estates

As at 31 July 2024 the company owed £320 (2023: £NIL) to Turnoaks Estates.

C King Holdings Ltd

As at 31 July 2024 the company owed £27,500 (2023: £NIL) to C King Holdings Ltd.

YCS Systems Ltd

As at 31 July 2024 the company owed £NIL (2023: £122,952) to YCS Systems Ltd.

Peak Technical Consultants Ltd

As at 31 July 2024 the company owed £NIL (2023: £3,140) to Peak Technical Consultants Ltd.

Spire Technical Consultants Ltd

As at 31 July 2024 the company owed £NIL (2023: £11,140) to Spire Technical Consultants Ltd.

11.	ULTIMATE CONTROLLING PARTY

As at 31 July 2024 the directors were the ultimate controlling party.