HSC_UK_LIMITED - Accounts

HSC UK LIMITED - Company Information

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Company Registration No. 04610250 (England and Wales)

HSC UK LIMITED

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

HSC UK LIMITED

COMPANY INFORMATION

Directors

Mr S Haley

Mr P Smith

Secretary

Mr S Barnes

Company number

04610250

Registered office

Maple House

118 High Street

Purley

Surrey

CR8 2AD

United Kingdom

CR8 2AD

Accountants

Bryden Johnson

Kings Parade

Lower Coombe Street

Croydon

Surrey

CR0 1AA

Business address

Maple House

118 High Street

Purley

Surrey

United Kingdom

CR8 2AD

HSC UK LIMITED

CONTENTS

Page

Directors' report

Accountants' report

Profit and loss account

Balance sheet

Notes to the financial statements

5 - 7

HSC UK LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 JUNE 2016

- 1 -

The directors present their report and financial statements for the year ended 30 June 2016.

Principal activities

The principal activity of the company continued to be that of provision of 3D modelling services to the rail industry.

Directors

The following directors have held office since 1 July 2015:

Mr S Haley

Mr P Smith

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

By order of the board

Mr S Barnes

Secretary

15 November 2016

HSC UK LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HSC UK LIMITED FOR THE YEAR ENDED 30 JUNE 2016

- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HSC UK Limited for the year ended 30 June 2016 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of HSC UK Limited, as a body, in accordance with the terms of our engagement letter dated 25 August 2016. Our work has been undertaken solely to prepare for your approval the financial statements of HSC UK Limited and state those matters that we have agreed to state to the Board of Directors of HSC UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HSC UK Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that HSC UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of HSC UK Limited. You consider that HSC UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of HSC UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bryden Johnson

5 December 2016

Chartered Accountants

Kings Parade

Lower Coombe Street

Croydon

CR0 1AA

HSC UK LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

2016

2015

Notes

Turnover

143,150

124,822

Cost of sales

(135,120)

(115,535)

Gross profit

8,030

9,287

Administrative expenses

(5,926)

(4,577)

Operating profit

2,104

4,710

Other interest receivable and similar income

Profit on ordinary activities before taxation

2,104

4,775

Tax on profit on ordinary activities

(421)

(955)

Profit for the year

1,683

3,820

HSC UK LIMITED

BALANCE SHEET

AS AT

30 JUNE 2016

- 4 -

2016

2015

Notes

Current assets

Debtors

81,561

46,794

Cash at bank and in hand

6,718

30,172

88,279

76,966

Creditors: amounts falling due within one year

(78,872)

(69,242)

Total assets less current liabilities

9,407

7,724

Capital and reserves

Called up share capital

1,000

Profit and loss account

8,407

6,724

Shareholders' funds

9,407

7,724

For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board for issue on 15 November 2016

Mr S Haley

Mr P Smith

Director

Company Registration No. 04610250

HSC UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2016

- 5 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

Investment income

2016

2015

Bank interest

Taxation

2016

2015

Domestic current year tax

U.K. corporation tax

421

955

Total current tax

421

955

Dividends

2016

2015

Ordinary interim paid

12,000

Debtors

2016

2015

Trade debtors

24,541

20,355

Other debtors

57,020

26,439

81,561

46,794

HSC UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 6 -

Creditors: amounts falling due within one year

2016

2015

Trade creditors

44,136

58,830

Taxation and social security

650

955

Other creditors

34,086

9,457

78,872

69,242

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000

Statement of movements on profit and loss account

Profit
and loss
account

Balance at 1 July 2015

6,724

Profit for the year

1,683

Balance at 30 June 2016

8,407

Control

There is not considered to be an ultimate controlling party.

HSC UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 7 -

Related party relationships and transactions

The company was invoiced £135,120 (2015: £105,735) for 3D modelling and commercial management services undertaken by Perfidelis Limited, a company in which Mr P Smith is a director. At 30 June 2016 the company owed Perfidelis Limited £71,730 (2015: £66,462).

The company was invoiced £nil (2015: £12,715) for 3D modelling and commercial management services undertaken by HCQS Limited and £2,400 (2015: £2,400) for bookkeeping services, a company in which Mr S Haley is a director. At the year end, the company was owed £11,600 (2015: £7,770) from HCQS Limited.

At 30 June 2016 the company was owed £500 (2015: £500) from Haley's Limited a company in which Mr S Haley is a director.

Haley's Limited, a company in which Mr S Haley is also a director, invoiced HSC UK Limited £2,535 (2015: £975) for management charges, insurance and software costs during the year. At 30 June 2016 the company owed £5,042 (2015: £nil) to Haley's Limited a company in which Mr S Haley is a director.

At 30 June 2016 the company was owed £14,000 (2015: £11,000) from HC M&E Limited a company in which Mr S Haley is a director.