HLCE Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06318719 (England and Wales)

Unaudited Financial Statements

for the Period 1 January 2020 to 30 November 2020

for

HLCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

H L C Decobert

SECRETARY:

J Benhamou

REGISTERED OFFICE:

1 Cork Street Mews

London

W1S 3BL

REGISTERED NUMBER:

06318719 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

6-8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

5,475

4,812

Investments

5

160,554

160,554

166,029

165,366

CURRENT ASSETS

Debtors

6

675,664

747,912

Cash at bank

271,004

179,673

946,668

927,585

CREDITORS

Amounts falling due within one year

7

(195,097

)

(181,554

)

NET CURRENT ASSETS

751,571

746,031

TOTAL ASSETS LESS CURRENT LIABILITIES

917,600

911,397

CREDITORS

Amounts falling due after more than one year

8

(45,833

)

-

NET ASSETS

871,767

911,397

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

871,766

911,396

SHAREHOLDERS' FUNDS

871,767

911,397

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2020 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 22 November 2021 and were signed by:

H L C Decobert - Director

1.	COMPANY INFORMATION

HLCE 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 company's principal activities and nature of its operations are disclosed in the Directors' Report.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 on the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements have been prepared for a period of 11 months, so as to be in line with the year end of related businesses. The comparative amounts presented in the financial statements (including the related notes) are therefore not entirely comparable.

Going concern

The financial statements have been prepared on a going concern basis. The director has a reasonable expectation that despite the adverse effects COVID-19 is having on the economy as a whole, the company has adequate resources to continue in operational existence for the foreseeable future. The director has reviewed relevant information and has considered possible measures that could be undertaken to mitigate the current adverse conditions. Based on this assessment and the current resources available, the director has concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates value added tax and other sales taxes. The policies adopted for the recognition of turnover are as follows:

Rendering of services

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due, excluding value added tax.

Profit share due

The profit share due to the company is recognised by reference to the joint venturers accounts in which the company holds a contractual arrangement to jointly control the economic activities of the entity with one or more parties.

Interest income

Interest income is recognised using the effective interest method.

Tangible fixed assets

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

Furniture & Fixtures

-

15% on reducing balance

Cash and cash equivalents

Cash and cash equivalents 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.

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 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.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments

Investments in subsidiaries and joint ventures are measured at cost less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Furniture

& Fixtures

£

COST

At 1 January 2020

6,660

Additions

1,630

At 30 November 2020

8,290

DEPRECIATION

At 1 January 2020

1,848

Charge for period

967

At 30 November 2020

2,815

NET BOOK VALUE

At 30 November 2020

5,475

At 31 December 2019

4,812

5.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 January 2020

and 30 November 2020

160,554

NET BOOK VALUE

At 30 November 2020

160,554

At 31 December 2019

160,554

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

672,728

744,976

Other debtors

2,936

2,936

675,664

747,912

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

4,167

-

Tax

184,175

157,499

Social security and other taxes

97

97

Other creditors

3,718

778

Accruals and deferred income

2,940

23,180

195,097

181,554

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 1-2 years

10,000

-

Bank loans - 2-5 years

30,000

-

Bank loans due > 5 years

5,833

-

45,833

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due > 5 years

5,833

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1

1

1