Company Registration No. 04610250 (England and Wales)
HSC UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018
PAGES FOR FILING WITH REGISTRAR
HSC UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
HSC UK LIMITED
BALANCE SHEET
AS AT 30 JUNE 2018
30 June 2018
- 1 -
2018
2017
Notes
£
£
£
£
Current assets
Debtors
2
7,559
15,188
Cash at bank and in hand
19,894
29,124
27,453
44,312
Creditors: amounts falling due within one year
3
(17,578)
(36,316)
Net current assets
9,875
7,996
Capital and reserves
Called up share capital
4
1,000
1,000
Profit and loss reserves
8,875
6,996
Total equity
9,875
7,996
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 8 August 2018 and are signed on its behalf by:
Mr S Haley
Mr P Smith
Director
Director
Company Registration No. 04610250
HSC UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018
- 2 -
1
Accounting policies
Company information
HSC UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Maple House, 118 High Street, Purley, Surrey, United Kingdom, CR8 2AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
1.3
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
HSC UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2018
- 3 -
2
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
2,700
4,500
Other debtors
4,859
10,688
7,559
15,188
Trade debtors disclosed above are measured at amortised cost.
3
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
16,968
26,280
Corporation tax
441
-
Other taxation and social security
62
-
Other creditors
107
10,036
17,578
36,316
4
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
1,000
1,000
5
Related party transactions
At the year end and included within other debtors, £3,855 (2017 - £5,388) was owed from HC QS Limited,
At the year end and included within other creditors, £107 (2017 - £42) was owed to Haley's Limited.