H&E Engineering Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11258252 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

H&E Engineering Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Ms D Lyu

Mr J Mouchel

L Gao

F V M Lepotier

SECRETARY:

Reed Smith Corporate Services Limited

REGISTERED OFFICE:

1 Blossom Yard

Fourth Floor

London

E1 6RS

REGISTERED NUMBER:

11258252 (England and Wales)

ACCOUNTANTS:

Wilson & Co

Chartered Certified Accountants

and Registered Auditors

9 St Clare Street

London

EC3N 1LQ

FIXED ASSETS

Tangible assets

4

3,086

363

CURRENT ASSETS

Debtors

5

116,172

51,190

Cash at bank

2,841,617

2,815,333

2,957,789

2,866,523

CREDITORS

Amounts falling due within one year

6

3,857,538

2,379,834

NET CURRENT (LIABILITIES)/ASSETS

(899,749

)

486,689

TOTAL ASSETS LESS CURRENT
LIABILITIES

(896,663

)

487,052

CAPITAL AND RESERVES

Called up share capital

300,000

Retained earnings

(1,196,663

)

187,052

(896,663

)

487,052

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

F V M Lepotier - Director

1.	STATUTORY INFORMATION

H&E Engineering 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

The company generates income from its construction contracts.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognized by reference to the stage of completion of the contract activity at the reporting date, measured as the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that they have been agreed with the customer. Where the outcome of the construction contract cannot be estimated reliably, contract revenue is recognised only to the extent of contract costs incurred that it is probable will be recoverable.

Accrued income represents turnover recognised in excess of payments on accounts.

Tangible fixed assets

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

Fixtures and fittings

-

33.33% on cost

Computer equipment

-

33.33% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, and loans from bank, director and related companies, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortized cost, using the effective interest method.

Share capital

Financial instruments issued by the company are classified as equity only to the extent that they do not meet the definition of a financial liability or financial asset.

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 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 January 2024

-

9,257

Additions

1,423

2,908

4,331

At 31 December 2024

1,423

12,165

13,588

DEPRECIATION

At 1 January 2024

-

8,894

Charge for year

470

1,138

1,608

At 31 December 2024

470

10,032

10,502

NET BOOK VALUE

At 31 December 2024

953

2,133

3,086

At 31 December 2023

-

363

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

9,255

811

Other debtors

11,552

-

Tax

40,295

-

Prepayments and accrued income

55,070

50,379

116,172

51,190

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Other loans

1,481,884

-

Trade creditors

1,237,794

1,620,928

Amounts owed to group undertakings

413,342

-

Tax

-

40,295

Social security and other taxes

54,105

-

VAT

387,435

358,093

Other creditors

267,392

354,756

Accrued expenses

15,586

5,762

3,857,538

2,379,834

Included in the trade creditor expenses there is an amount of £635,127 (2023: £635,127) due to its shareholder China Nuclear Industry Huaxing Construction Co., Ltd, and an amount £542,835 (2023: £943,847) due to Framatome Limited, a main subcontractor of H&E, the amounts are unsecured, interest free, repayable on demand and have no fixted repayment date.

7.	RELATED PARTY DISCLOSURES

At 31 December 2024, an amount of £413,342 (2023: £Nil) was due to China Nuclear Industry Huaxing Company, a shareholder. This amount is included in amounts owed to related undertakings falling due within one year.

8.	ULTIMATE CONTROLLING PARTY

The company does not have a controlling party.