Hackwood Building Services Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03881890 (England and Wales)

Hackwood Building Services Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

B R Harvey

Registered office:

Unit 7

Moniton Estate

West Ham Lane

Basingstoke

Hampshire

RG22 6NQ

Registered number:

03881890 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

250 Fowler Avenue

Farnborough

Hampshire

GU14 7JP

Fixed assets

Tangible assets

4

369,346

231,512

Investment property

5

942,872

375,102

1,312,218

606,614

Current assets

Debtors

6

1,537,771

1,241,063

Cash at bank

181,260

536,869

1,719,031

1,777,932

Creditors

Amounts falling due within one year

7

1,283,782

1,308,534

Net current assets

435,249

469,398

Total assets less current liabilities

1,747,467

1,076,012

Creditors

Amounts falling due after more than one year

8

-

(2,878

)

Provisions for liabilities

(8,889

)

(8,889

)

Net assets

1,738,578

1,064,245

Capital and reserves

Called up share capital

10

100

100

Retained earnings

1,738,478

1,064,145

Shareholders' funds

1,738,578

1,064,245

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 August 2023 and were signed by:

B R Harvey - Director

1.	Statutory information

Hackwood Building Services 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.

2.	Accounting policies

Accounting convention

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The principle accounting policies are set out below.

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 represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery

25% Reducing balance

Fixtures, fittings & equipment

25% Reducing balance

Motor vehicles

25% Reducing balance

Office building

25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, and deposits held at call with banks.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus on revaluation has been recognised in the profit and loss account.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Leases

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

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

3.	Employees and directors

The average number of employees during the year was 3 (2022 - 4 ) .

4.	Tangible fixed assets

Fixtures

Improvements

Plant and

and

Motor

to property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost

At 1 April 2022

17,045

54,380

30,609

270,941

372,975

Additions

-

28,644

3,837

183,822

216,303

Disposals

-

-

-

(23,667

)

(23,667

)

At 31 March 2023

17,045

83,024

34,446

431,096

565,611

Depreciation

At 1 April 2022

11,652

25,873

19,846

84,092

141,463

Charge for year

1,348

11,190

3,136

48,743

64,417

Eliminated on disposal

-

-

-

(9,615

)

(9,615

)

At 31 March 2023

13,000

37,063

22,982

123,220

196,265

Net book value

At 31 March 2023

4,045

45,961

11,464

307,876

369,346

At 31 March 2022

5,393

28,507

10,763

186,849

231,512

5.	Investment property

Total

£

Fair value

At 1 April 2022

375,102

Additions

567,770

At 31 March 2023

942,872

Net book value

At 31 March 2023

942,872

At 31 March 2022

375,102

6.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

1,507,132

1,161,776

Other debtors

30,639

79,287

1,537,771

1,241,063

7.

Creditors: amounts falling due within one year

2023

2022

£

£

Hire purchase contracts (see note 9)

-

6,907

Trade creditors

290,324

230,865

Taxation and social security

438,812

360,090

Other creditors

554,646

710,672

1,283,782

1,308,534

8.

Creditors: amounts falling due after more than one year

2023

2022

£

£

Hire purchase contracts (see note 9)

-

2,878

9.	Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2023

2022

£

£

Net obligations repayable:

Within one year

-

6,907

Between one and five years

-

2,878

-

9,785

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023

2022

£

£

57,000

69,000

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

11.	Director's advances, credits and guarantees

Included in other creditors is £46,020 (£2022:£49,107 owed by director) owed to our director.