Haines Watts (Colchester) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04724836 (England and Wales)

Haines Watts (Colchester) Limited

Unaudited Financial Statements

For The Year Ended

31st March 2021

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Accountants' Report

8

DIRECTORS:

S Welling

M Neale

Mrs M J Simpson

REGISTERED OFFICE:

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

REGISTERED NUMBER:

04724836 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

FIXED ASSETS

Intangible assets

5

131,019

80,001

Tangible assets

6

22,893

24,357

153,912

104,358

CURRENT ASSETS

Stocks

102,000

76,323

Debtors

7

343,390

273,872

Cash at bank

237,843

14,623

683,233

364,818

CREDITORS

Amounts falling due within one year

8

357,106

310,021

NET CURRENT ASSETS

326,127

54,797

TOTAL ASSETS LESS CURRENT LIABILITIES

480,039

159,155

CREDITORS

Amounts falling due after more than one year

9

(315,081

)

(94,375

)

PROVISIONS FOR LIABILITIES

(4,030

)

(4,237

)

NET ASSETS

160,928

60,543

CAPITAL AND RESERVES

Called up share capital

27,500

27,500

Retained earnings

133,428

33,043

160,928

60,543

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st March 2022 and were signed on its behalf by:

M Neale - Director

1.	STATUTORY INFORMATION

Haines Watts (Colchester) Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Turnover is represented by work done and is measured at the fair value of the consideration received or receivable, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Computer and office equipment

-

33% on cost and 25% on reducing balance

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102.

Grants of a revenue nature are recognised in other income within profit or loss in the same period as the

related expenditure. This includes the Government Coronavirus Job Retention Scheme grants.

Work in progress

Work in progress represents unbilled revenue and it is valued at the realisable value less any write offs.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 19 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2020

200,000

Additions

76,091

At 31st March 2021

276,091

AMORTISATION

At 1st April 2020

119,999

Charge for year

25,073

At 31st March 2021

145,072

NET BOOK VALUE

At 31st March 2021

131,019

At 31st March 2020

80,001

6.	TANGIBLE FIXED ASSETS

Computer

and

Plant and

office

machinery

equipment

Totals

£

£

£

COST

At 1st April 2020

2

53,817

53,819

Additions

-

7,992

7,992

At 31st March 2021

2

61,809

61,811

DEPRECIATION

At 1st April 2020

2

29,460

29,462

Charge for year

-

9,456

9,456

At 31st March 2021

2

38,916

38,918

NET BOOK VALUE

At 31st March 2021

-

22,893

22,893

At 31st March 2020

-

24,357

24,357

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

272,273

202,540

Other debtors

71,117

71,332

343,390

273,872

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,859

86,066

Trade creditors

72,328

72,761

Taxation and social security

172,481

112,540

Other creditors

102,438

38,654

357,106

310,021

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

23,523

55,000

Other creditors

291,558

39,375

315,081

94,375

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Haines Watts (Colchester) Limited for the year ended 31st March 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Haines Watts (Colchester) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Haines Watts (Colchester) Limited and state those matters that we have agreed to state to the Board of Directors of Haines Watts (Colchester) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Haines Watts (Colchester) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Haines Watts (Colchester) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Haines Watts (Colchester) Limited. You consider that Haines Watts (Colchester) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Haines Watts (Colchester) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

31st March 2022