HK Accountax Ltd - Accounts

HK Accountax Ltd - Accounts

HK ACCOUNTAX LTD - Company Information

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Registered Number: 09453572


 

 

 

HK ACCOUNTAX LTD


Abridged Accounts
 


Period of accounts

Start date: 01 March 2021

End date: 28 February 2022

HK Accountax Ltd
Contents Page
For the year ended 28 February 2022
Accountant’s report
You consider that the company is exempt from an audit for the year ended 28 February 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
HK Accountax Ltd
28 February 2022



....................................................
HK Accountax Ltd
16 Crendon Street

High Wycombe
HP13 6LW
30 November 2022
1
 
 		 Notes
 		 2022
£		   2021
£
Fixed assets      
Intangible fixed assets 183,000    0 
Tangible fixed assets 30,130    27,700 
213,130    27,700 
Current assets      
Debtors 99,170    30,925 
Cash at bank and in hand 4,204    6,386 
103,374    37,311 
Creditors: amount falling due within one year (159,295)   (18,778)
Net current liabilities (55,921)   18,533 
 
Total assets less current liabilities 157,209    46,233 
Creditors: amount falling due after more than one year (144,422)   (42,029)
Net assets 12,787    4,204 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 12,687    4,104 
Shareholder's funds 12,787    4,204 
 


For the year ended 28 February 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 30 November 2022 and were signed by:


--------------------------------
Pankaj Kothari
Director
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General Information
HK Accountax Ltd is a private company, limited by shares, registered in , registration number 09453572, registration address 16 Crendon Street, High Wycombe, Buckinghsmshire, Buckinghsmshire, Buckinghsmshire, HP13 6LW.

The presentation currency is £ sterling.
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 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.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
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 18% Reducing Balance
Computer Equipment 18% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 1 (2021 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2021 -    - 
Additions 183,000    183,000 
Disposals -    - 
At 28 February 2022 183,000    183,000 
Amortisation
At 01 March 2021 -    - 
Charge for year -    - 
On disposals -    - 
At 28 February 2022 -    - 
Net book values
At 28 February 2022 183,000    183,000 
At 28 February 2021 -    - 


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2021 44,266    1,232    45,498 
Additions 8,329    717    9,046 
Disposals -    -    - 
At 28 February 2022 52,595    1,949    54,544 
Depreciation
At 01 March 2021 17,578    222    17,800 
Charge for year 6,303    311    6,614 
On disposals -    -    - 
At 28 February 2022 23,881    533    24,414 
Net book values
Closing balance as at 28 February 2022 28,714    1,416    30,130 
Opening balance as at 01 March 2021 26,689    1,011    27,700 


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