ACCOUNTS - Final Accounts preparation

HWL CONSULTANCY LTD - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3111trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01Holding companyfalsetrue 12534868 2022-04-01 2023-03-31 12534868 2021-04-01 2022-03-31 12534868 2023-03-31 12534868 2022-03-31 12534868 c:Director1 2022-04-01 2023-03-31 12534868 d:CurrentFinancialInstruments 2023-03-31 12534868 d:CurrentFinancialInstruments 2022-03-31 12534868 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12534868 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12534868 d:ShareCapital 2023-03-31 12534868 d:ShareCapital 2022-03-31 12534868 d:RetainedEarningsAccumulatedLosses 2023-03-31 12534868 d:RetainedEarningsAccumulatedLosses 2022-03-31 12534868 c:FRS102 2022-04-01 2023-03-31 12534868 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12534868 c:FullAccounts 2022-04-01 2023-03-31 12534868 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12534868 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 12534868

HWL CONSULTANCY LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

HWL CONSULTANCY LTD

REGISTERED NUMBER: 12534868

BALANCE SHEET

AS AT 31 MARCH 2023

		2023		2022
Note		£		£

Fixed assets
Investments	4		42		42
Current assets
Debtors: amounts falling due within one year	5	316,004		673,998
Cash at bank and in hand		676,707		70
		992,711		674,068
Creditors: amounts falling due within one year	6	(22,132)		(8,141)
Net current assets			970,579		665,927
Total assets less current liabilities			970,621		665,969

Net assets			970,621		665,969

Capital and reserves
Called up share capital	1	1
Profit and loss account	970,620	665,968
	970,621	665,969

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HWL CONSULTANCY LTD

REGISTERED NUMBER: 12534868

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 September 2023.

T H C Vernon

Director

The notes on pages 3 to 5 form part of these financial statements.

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HWL CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1.	General information

HWL Consultancy Ltd is a private company limited by shares, incorporated in England and Wales (registered number: 12534868). Its registered office is 5th Floor, 11 Leopold Street, Sheffield, South Yorkshire, United Kingdom, S1 2GY. The principal activity of the Company throughout the year was that of consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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HWL CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

2.4

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

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HWL CONSULTANCY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2022	42
	At 31 March 2023	42

Debtors

					2023	2022
					£	£


Trade debtors	73,144	-
Amounts owed by group undertakings	242,860	673,998
	316,004	673,998

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Corporation tax	13,992	-
Other creditors	6,640	6,641
Accruals and deferred income	1,500	1,500
	22,132	8,141

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