HRS Asset Management Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04759951

HRS ASSET MANAGEMENT LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 May 2025

HRS ASSET MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

31 May 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		914		103

CURRENT ASSETS

Cash at bank and in hand	42,554		48,496

CREDITORS: amounts falling due within one year	6	27,067		29,928
		--------		--------
NET CURRENT ASSETS			15,487		18,568
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			16,401		18,671

PROVISIONS

Taxation including deferred tax	247	27
	--------	--------
NET ASSETS	16,154	18,644
	--------	--------

CAPITAL AND RESERVES

Called up share capital	7	100	100
Profit and loss account		16,054	18,544
		--------	--------
SHAREHOLDERS FUNDS		16,154	18,644
		--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

HRS ASSET MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 6 October 2025 , and are signed on behalf of the board by:

Mrs R E Simpson
Director

Company registration number: 04759951

HRS ASSET MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

Year ended 31 May 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Woodhouse Road, Wolverhampton, West Midlands, WV6 8JJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in Sterling, which is the functional currency of the entity. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Revenue recognition

The turnover shown in the profit and loss account represents cases submitted during the year.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. TANGIBLE ASSETS

	Equipment	Total
	£	£
Cost
At 1 June 2024	3,201	3,201
Additions	1,370	1,370
	-------	-------
At 31 May 2025	4,571	4,571
	-------	-------
Depreciation
At 1 June 2024	3,098	3,098
Charge for the year	559	559
	-------	-------
At 31 May 2025	3,657	3,657
	-------	-------
Carrying amount
At 31 May 2025	914	914
	-------	-------
At 31 May 2024	103	103
	-------	-------

6. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	19,269	21,567
Social security and other taxes	1,148	1,075
Other creditors	6,650	7,286
	--------	--------
	27,067	29,928
	--------	--------

7. CALLED UP SHARE CAPITAL

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	-------	-------	-------	-------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----