Hulme Associates Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04918162 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

FOR

HULME ASSOCIATES LIMITED

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

7

FIXED ASSETS

Intangible assets

4

34,250

41,100

Tangible assets

5

3,922

7,265

38,172

48,365

CURRENT ASSETS

Debtors

6

96,505

80,082

Cash at bank and in hand

188,058

104,691

284,563

184,773

CREDITORS

Amounts falling due within one year

7

(97,803

)

(127,096

)

NET CURRENT ASSETS

186,760

57,677

TOTAL ASSETS LESS CURRENT LIABILITIES

224,932

106,042

CREDITORS

Amounts falling due after more than one year

8

(199,578

)

(86,122

)

NET ASSETS

25,354

19,920

CAPITAL AND RESERVES

Called up share capital

99

99

Retained earnings

25,255

19,821

25,354

19,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 26 May 2023 and were signed on its behalf by:

A G Johnson - Director

1.	STATUTORY INFORMATION

Hulme Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04918162

Registered office:

c/o DPC

Stone House

55 Stone Road Business Park

Stoke-On-Trent

Staffordshire

ST4 6SR

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.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

(ii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

REVENUE RECOGNITION

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition

over the company's interest in the net amount of the identifiable assets, liabilities and contingent

liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.

It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful

life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

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

Fixtures & Fittings - 20% on reducing balance

Leasehold Improvements - 6 years straight line

Impairment of Fixed Assets

A review for indicators of impairment is carried out at each reporting date, with recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purpose of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash- generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or group of assets.

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2021

and 31 August 2022

167,002

AMORTISATION

At 1 September 2021

125,902

Charge for year

6,850

At 31 August 2022

132,752

NET BOOK VALUE

At 31 August 2022

34,250

At 31 August 2021

41,100

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 September 2021

and 31 August 2022

1,041

18,600

34,459

54,100

DEPRECIATION

At 1 September 2021

1,041

17,357

28,437

46,835

Charge for year

-

248

3,095

3,343

At 31 August 2022

1,041

17,605

31,532

50,178

NET BOOK VALUE

At 31 August 2022

-

995

2,927

3,922

At 31 August 2021

-

1,243

6,022

7,265

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade debtors

36,680

31,250

Amounts owed by group undertakings

49,592

43,566

Other debtors

10,233

5,266

96,505

80,082

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans and overdrafts

5,763

5,587

Hire purchase contracts

2,639

3,975

Trade creditors

4,850

5,053

Amounts owed to group undertakings

-

266

Taxation and social security

71,616

66,389

Other creditors

12,935

45,826

97,803

127,096

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans

37,200

43,023

Hire purchase contracts

-

2,699

Other creditors

162,378

40,400

199,578

86,122

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2022 and 31 August 2021:

31.8.22

31.8.21

£

£

A G Johnson

Balance outstanding at start of year

11,874

11,399

Amounts advanced

62,617

41,855

Amounts repaid

(52,830

)

(41,380

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,661

11,874

10.	RELATED PARTY DISCLOSURES

Transactions with directors are under normal market conditions and/or not material.

The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies.

11.	POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.

12.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Keates Hulme Holdings Limited, a company registered in England and Wales.