High Definition Lipo Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11227129 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021

FOR

HIGH DEFINITION LIPO LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Kumar

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

11227129 (England and Wales)

FIXED ASSETS

Tangible assets

4

4,323

4,804

CURRENT ASSETS

Debtors

5

28,507

18,869

Cash at bank and in hand

55,569

42,488

84,076

61,357

CREDITORS

Amounts falling due within one year

6

138,322

31,698

NET CURRENT (LIABILITIES)/ASSETS

(54,246

)

29,659

TOTAL ASSETS LESS CURRENT LIABILITIES

(49,923

)

34,463

CREDITORS

Amounts falling due after more than one year

7

50,000

-

NET (LIABILITIES)/ASSETS

(99,923

)

34,463

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

10

(100,923

)

33,463

SHAREHOLDERS' FUNDS

(99,923

)

34,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 19 May 2022 and were signed by:

R Kumar - Director

1.	STATUTORY INFORMATION

High Definition Lipo 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.

Turnover

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

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

-

10% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2020

and 31 May 2021

6,100

DEPRECIATION

At 1 June 2020

1,296

Charge for year

481

At 31 May 2021

1,777

NET BOOK VALUE

At 31 May 2021

4,323

At 31 May 2020

4,804

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Other debtors

-

18,869

Directors' current accounts

28,507

-

28,507

18,869

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Trade creditors

2,899

5,430

Tax

6,723

6,723

Social security and other taxes

35,036

2,842

VAT

3,106

4,476

Other creditors

89,058

9,233

Directors' current accounts

-

1,494

Accrued expenses

1,500

1,500

138,322

31,698

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/5/21

31/5/20

£

£

Bank loans (see note 8)

50,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

50,000

-

8.

LOANS

An analysis of the maturity of loans is given below:

31/5/21

31/5/20

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

50,000

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/21

31/5/20

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.

RESERVES

Retained

earnings

£

At 1 June 2020

33,463

Deficit for the year

(134,386

)

At 31 May 2021

(100,923

)

11.	RELATED PARTY DISCLOSURES

During the year High Definition Lipo Limited entered into transactions with companies/entities in which Mr R Kumar has a beneficial interest. The transactions for and amounts outstanding at the period ending 31st May 2021 were:

2021

2020

£

£

Other Debtors

Due from Related Companies

Nil

18,869

Other Creditors

Due to Related Companies

83,791

9,233