General Information
Hawthorn Accountancy Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 04810188, registration address Sandringham House, 1-3 Cemetery Road, Bridgend, CF31 1LY.
| 1. |
Accounting Policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and Fittings |
20% Straight Line
|
|
| 2. |
Tangible fixed assets
| Cost |
Land and Buildings |
|
Plant and Machinery |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 January 2018 |
3,376 |
|
939 |
|
6,814 |
|
11,129 |
| Additions |
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 December 2018 |
3,376 |
|
939 |
|
6,814 |
|
11,129 |
| Depreciation |
| At 01 January 2018 |
3,376 |
|
939 |
|
6,666 |
|
10,981 |
| Charge for year |
- |
|
- |
|
148 |
|
148 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 December 2018 |
3,376 |
|
939 |
|
6,814 |
|
11,129 |
| Net book values |
| Closing balance as at 31 December 2018 |
- |
|
- |
|
- |
|
- |
| Opening balance as at 01 January 2018 |
- |
|
- |
|
148 |
|
148 |
|
| 3. |
Debtors: amounts falling due within one year
|
2018
£ |
|
2017
£ |
| Trade Debtors |
33,278 |
|
36,972 |
| Provision for Doubtful Debts |
0 |
|
(431) |
| Prepayments & Accrued Income |
13,147 |
|
5,332 |
| Other Debtors |
2,000 |
|
2,000 |
|
48,425 |
|
43,873 |
|
| 4. |
Creditors: amount falling due within one year
|
2018
£ |
|
2017
£ |
| Trade Creditors |
3,374 |
|
4,075 |
| Corporation Tax |
7,794 |
|
4,033 |
| PAYE & Social Security |
2,047 |
|
2,774 |
| Accrued Expenses |
137 |
|
0 |
| Other Creditors |
580 |
|
138 |
| Directors' Current Accounts |
35,194 |
|
27,778 |
| VAT |
11,119 |
|
10,122 |
|
60,245 |
|
48,920 |
|
| 5. |
Share Capital
Authorised
200 Class A shares of £1.00 each
|
2018
£ |
|
2017
£ |
|
200
Class A shares of £1.00 each |
200 |
|
200 |
|
200 |
|
200 |
|
| 6. |
Controlling Interest
The company is controlled by Paul Gibbs-Murray and Elizabeth Gibbs-Murray, the directors, who between them hold 100% of the issued share capital.
|
3
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