Ashdown Hurrey Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09882189 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

ASHDOWN HURREY SOLUTIONS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Bradbury

J R Moore

T V J Rayner-Vincent

C W Read

S M Rosling

M N Weeks-Pearson

S A Carter

REGISTERED OFFICE:

20 Havelock Road

Hastings

East Sussex

TN34 1BP

REGISTERED NUMBER:

09882189 (England and Wales)

ACCOUNTANTS:

Ashdown Hurrey

Chartered Accountants & Business Advisers

20 Havelock Road

Hastings

East Sussex

TN34 1BP

FIXED ASSETS

Intangible assets

4

1,226,696

919,758

Tangible assets

5

31,674

39,567

Investments

6

1

1

1,258,371

959,326

CURRENT ASSETS

Debtors

7

1,470,050

1,433,603

Cash at bank and in hand

660,110

189,801

2,130,160

1,623,404

CREDITORS

Amounts falling due within one year

8

1,797,537

1,251,385

NET CURRENT ASSETS

332,623

372,019

TOTAL ASSETS LESS CURRENT LIABILITIES

1,590,994

1,331,345

CREDITORS

Amounts falling due after more than one year

9

861,695

913,301

NET ASSETS

729,299

418,044

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

10

728,999

417,744

729,299

418,044

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 November 2021 and were signed on its behalf by:

J R Moore - Director

1.	STATUTORY INFORMATION

Ashdown Hurrey Solutions 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 as modified by the revaluation of certain assets.

In preparing the financial statements, the directors are required to make an assessment of the ability of the company to continue as a going concern. The directors have considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements. Against the backdrop of the COVID-19 pandemic the directors have paid particular attention to likely cashflow requirements and future availability of adequate cashflow to the company.

On the basis of this consideration, the directors are confident that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they are satisfied that no material uncertainty exists. As a result of the above, the directors have concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements and that no material uncertainty exists in reaching this conclusion.

Turnover

Fee income represents revenue earned under a variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including disbursements, but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts, the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors 'amounts recoverable on contracts'.

Intangible assets

Intangible assets represent the cost of acquiring customer relationships including customer lists.

In the opinion of the directors the customer lists have an active market and have therefore adopted the revaluation model of measurement. The directors have not applied amortisation as they believe the customer lists have an indefinite useful economic life in that there is no foreseeable limit to the period over which the asset is expected to generate net cash inflows for the company.

The valuation of the customer lists is reviewed regularly and at least every three years by the directors and adjusted accordingly.

Intangible assets are reviewed for impairment in any period in which events or changes in circumstances indicate the carrying value may not be fully recoverable.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Government grants

In accordance with s24 of FRS102 these are treated using the accruals model and so are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grants are intended to compensate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 68 (2020 - 68 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST OR VALUATION

At 1 April 2020

919,758

Additions

61,277

Revaluations

245,661

At 31 March 2021

1,226,696

NET BOOK VALUE

At 31 March 2021

1,226,696

At 31 March 2020

919,758

Cost or valuation at 31 March 2021 is represented by:

Other

intangible

assets

£

Valuation in 2021

245,661

Cost

981,035

1,226,696

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

136,268

Additions

12,342

At 31 March 2021

148,610

DEPRECIATION

At 1 April 2020

96,701

Charge for year

20,235

At 31 March 2021

116,936

NET BOOK VALUE

At 31 March 2021

31,674

At 31 March 2020

39,567

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2020

and 31 March 2021

1

NET BOOK VALUE

At 31 March 2021

1

At 31 March 2020

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

578,710

664,074

Amounts recoverable on contract

757,679

670,700

Other debtors

133,661

98,829

1,470,050

1,433,603

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans and overdrafts

50,000

-

Trade creditors

41,605

14,260

Taxation and social security

647,631

396,479

Other creditors

1,058,301

840,646

1,797,537

1,251,385

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Other creditors

861,695

913,301

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Fixed loan capital

500,000

600,000

Repayable by instalments

Other loan

30,566

-

10.

RESERVES

Retained

earnings

£

At 1 April 2020

417,744

Profit for the year

1,170,232

Dividends

(1,104,638

)

Revalue other intangible asset

245,661

At 31 March 2021

728,999