Howard Professionals Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08218471 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

HOWARD PROFESSIONALS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A Howard

SECRETARY:

A Howard

REGISTERED OFFICE:

Room 46c The Turbine

Coach Close

Worksop

Nottinghamshire

S81 8AP

REGISTERED NUMBER:

08218471 (England and Wales)

FIXED ASSETS

Tangible assets

4

23,091

24,850

CURRENT ASSETS

Debtors

5

21,160

15,525

Cash at bank and in hand

51,672

70,180

72,832

85,705

CREDITORS

Amounts falling due within one year

6

48,610

38,047

NET CURRENT ASSETS

24,222

47,658

TOTAL ASSETS LESS CURRENT LIABILITIES

47,313

72,508

CREDITORS

Amounts falling due after more than one year

7

(11,330

)

(16,365

)

PROVISIONS FOR LIABILITIES

(4,387

)

(4,722

)

NET ASSETS

31,596

51,421

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

31,594

51,419

SHAREHOLDERS' FUNDS

31,596

51,421

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 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 24 December 2020 and were signed by:

A Howard - Director

1.	STATUTORY INFORMATION

Howard Professionals Ltd 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

33% on cost

Motor vehicles

-

20% 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 October 2019

8,375

25,199

33,574

Additions

9,117

-

9,117

Disposals

(1,875

)

-

(1,875

)

At 30 September 2020

15,617

25,199

40,816

DEPRECIATION

At 1 October 2019

3,684

5,040

8,724

Charge for year

4,969

4,032

9,001

At 30 September 2020

8,653

9,072

17,725

NET BOOK VALUE

At 30 September 2020

6,964

16,127

23,091

At 30 September 2019

4,691

20,159

24,850

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2019

and 30 September 2020

25,199

DEPRECIATION

At 1 October 2019

5,040

Charge for year

4,032

At 30 September 2020

9,072

NET BOOK VALUE

At 30 September 2020

16,127

At 30 September 2019

20,159

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

20,978

15,191

Prepayments

182

334

21,160

15,525

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

5,036

5,036

Trade creditors

88

53

Tax

33,362

24,028

VAT

9,524

8,231

Directors' current accounts

-

99

Accrued expenses

600

600

48,610

38,047

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Hire purchase contracts

11,330

16,365

8.	RELATED PARTY DISCLOSURES

A Howard

Director

During the period a loan account subsisted with the director. The director advanced to the company £98,111 and the company repaid to the director £98,210. At the period end a debit balance of £NIL (2019: £99) was due to the director. The loan is interest free and under no specific repayment terms.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is A Howard.