Hi-Spec Structures Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09311243 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

Hi-Spec Structures Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R Cooke

G E Cooke

REGISTERED OFFICE:

Unit 9

Windmill Industrial Estate

Windmill Fowey

Cornwall

PL23 1HB

REGISTERED NUMBER:

09311243 (England and Wales)

ACCOUNTANTS:

Bourne & Co

Chartered Accountants

6 Lichfield Street

Burton-on-Trent

Staffordshire

DE14 3RD

FIXED ASSETS

Tangible assets

4

-

362

CURRENT ASSETS

Debtors

2,930

3,115

Cash at bank

11,708

19,326

14,638

22,441

CREDITORS

Amounts falling due within one year

5,662

10,086

NET CURRENT ASSETS

8,976

12,355

TOTAL ASSETS LESS CURRENT LIABILITIES

8,976

12,717

CAPITAL AND RESERVES

Called up share capital

5

2

2

Retained earnings

8,974

12,715

SHAREHOLDERS' FUNDS

8,976

12,717

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2021 and were signed on its behalf by:

Mrs R Cooke - Director

1.	STATUTORY INFORMATION

Hi-Spec Structures 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

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

Turnover in respect of subscriptions is recognised evenly over the period covered by the subscription.

Tangible fixed assets

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

Computer equipment and software

-

33% on cost

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 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2019

and 30 September 2020

15,740

DEPRECIATION

At 1 October 2019

15,378

Charge for year

362

At 30 September 2020

15,740

NET BOOK VALUE

At 30 September 2020

-

At 30 September 2019

362

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.20

30.9.19

value:

£

£

2

Ordinary

£1

2

2

6.

COVID 19

The COVID-19 pandemic developed rapidly throughout 2020 and 2021 with the UK government and the devolved administrations of the United Kingdom introducing various measures that have affected economic activity.

We have taken all necessary measures to monitor and mitigate the effects of COVID-19, such as health and safety measures for our staff and visitors.

Our customers were impacted by the pandemic and we agreed with our main customer that the licence fee charge for the year would be waived. This has had a detrimental impact upon our result for the year but we hope it will have a benefit in the longer term.

We will continue to follow government policies and guidelines and to continue operations in the best and safest way possible without endangering the health of our staff or visitors.

There has been no impact upon the company's liquidity or ability to continue as a going concern arising from the pandemic.