H.C.S. Services Limited 31/03/2022 iXBRL

H.C.S. Services Limited 31/03/2022 iXBRL

H.C.S. SERVICES LIMITED - Company Information

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31/03/2022 2022-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-04-01 Sage Accounts Production 21.0 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 04847854 2021-04-01 2022-03-31 04847854 2022-03-31 04847854 2021-03-31 04847854 2020-04-01 2021-03-31 04847854 2021-03-31 04847854 core:PlantMachinery 2021-04-01 2022-03-31 04847854 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 04847854 core:OnerousContractsExcludingVacantProperties 2021-04-01 2022-03-31 04847854 core:NetGoodwill 2021-04-01 2022-03-31 04847854 bus:Director1 2021-04-01 2022-03-31 04847854 core:NetGoodwill 2021-03-31 04847854 core:NetGoodwill 2022-03-31 04847854 core:PlantMachinery 2021-03-31 04847854 core:FurnitureFittingsToolsEquipment 2021-03-31 04847854 core:PlantMachinery 2022-03-31 04847854 core:FurnitureFittingsToolsEquipment 2022-03-31 04847854 core:WithinOneYear 2022-03-31 04847854 core:WithinOneYear 2021-03-31 04847854 core:AfterOneYear 2022-03-31 04847854 core:AfterOneYear 2021-03-31 04847854 core:UKTax 2021-04-01 2022-03-31 04847854 core:UKTax 2020-04-01 2021-03-31 04847854 core:ShareCapital 2022-03-31 04847854 core:ShareCapital 2021-03-31 04847854 core:RetainedEarningsAccumulatedLosses 2022-03-31 04847854 core:RetainedEarningsAccumulatedLosses 2021-03-31 04847854 core:NetGoodwill 2021-03-31 04847854 core:PlantMachinery 2021-03-31 04847854 core:FurnitureFittingsToolsEquipment 2021-03-31 04847854 bus:SmallEntities 2021-04-01 2022-03-31 04847854 bus:AuditExempt-NoAccountantsReport 2021-04-01 2022-03-31 04847854 bus:FullAccounts 2021-04-01 2022-03-31 04847854 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 04847854 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 04847854 core:ComputerEquipment 2021-04-01 2022-03-31 04847854 core:ComputerEquipment 2021-03-31 04847854 core:ComputerEquipment 2022-03-31
Company registration number: 04847854
H.C.S. Services Limited
Pages for filing with Registrar
31 March 2022
H.C.S. Services Limited
Contents
Statement of financial position
Notes to the financial statements
H.C.S. Services Limited
Statement of financial position
31 March 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 6 115,328 122,536
Tangible assets 7 7,910 7,560
_______ _______
123,238 130,096
Current assets
Stocks 30,506 29,119
Debtors 8 23,567 28,719
Cash at bank and in hand 10,679 64,006
_______ _______
64,752 121,844
Creditors: amounts falling due
within one year 9 ( 41,663) ( 68,943)
_______ _______
Net current assets 23,089 52,901
_______ _______
Total assets less current liabilities 146,327 182,997
Creditors: amounts falling due
after more than one year 10 ( 2,299) ( 10,000)
Provisions for liabilities ( 1,978) ( 1,436)
_______ _______
Net assets 142,050 171,561
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 141,950 171,461
_______ _______
Shareholders funds 142,050 171,561
_______ _______
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 10 March 2023 , and are signed on behalf of the board by:
Mrs Marie Scott
Director
Company registration number: 04847854
H.C.S. Services Limited
Notes to the financial statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 23D Oak Road, West Chirton North Industrial Estate, North Shields, Tyne and Wear, NE29 8SF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors of the company are satisfied that there are no material uncertainties concerning the company's ability to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the financial statements continue to be prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment - 25 % reducing balance
Office equipment - 25 % reducing balance
Computer equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2021: 8 ).
5. Tax on profit
Major components of tax expense
2022 2021
£ £
Current tax:
UK current tax expense 1,577 9,072
_______ _______
Deferred tax:
Origination and reversal of timing differences 542 1,187
_______ _______
Tax on profit 2,119 10,259
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2021 and 31 March 2022 144,160 144,160
_______ _______
Amortisation
At 1 April 2021 21,624 21,624
Charge for the year 7,208 7,208
_______ _______
At 31 March 2022 28,832 28,832
_______ _______
Carrying amount
At 31 March 2022 115,328 115,328
_______ _______
At 31 March 2021 122,536 122,536
_______ _______
7. Tangible assets
Plant and machinery Fixtures, fittings and equipment Computer equipment Total
£ £ £ £
Net book value
At 1 April 2021 30 954 6,576 7,560
Additions - 3,884 - 3,884
_______ _______ _______ _______
At 31 March 2022 30 4,838 6,576 11,444
_______ _______ _______ _______
Depreciation
At 1 April 2021 - - - -
Charge for the year 7 239 3,288 3,534
_______ _______ _______ _______
At 31 March 2022 7 239 3,288 3,534
_______ _______ _______ _______
Carrying amount
At 31 March 2022 23 4,599 3,288 7,910
_______ _______ _______ _______
At 31 March 2021 30 954 6,576 7,560
_______ _______ _______ _______
8. Debtors
2022 2021
£ £
Trade debtors 17,707 22,543
Other debtors 5,860 6,176
_______ _______
23,567 28,719
_______ _______
9. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 1,943 -
Trade creditors 16,383 31,822
Corporation tax 1,578 9,072
Social security and other taxes 8,078 6,376
Other creditors 13,681 21,673
_______ _______
41,663 68,943
_______ _______
10. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts 2,299 10,000
_______ _______
11. Directors advances, credits and guarantees
The company has outstanding directors loan in the name of Mrs Marie Scott of £7,773 (2021 £11,769). This is included in other creditors in note 10. This loan is interest free and repayable on demand.