Company Registration No. 06637551 (England and Wales)
Hobby Casuals Limited
Unaudited accounts
for the year ended 31 March 2023
Hobby Casuals Limited
Unaudited accounts
Contents
Hobby Casuals Limited
Company Information
for the year ended 31 March 2023
Company Number
06637551 (England and Wales)
Registered Office
18 Drift Road
Fareham
Hampshire
PO16 8SY
Accountants
Clare Weeks Accounting
18 Drift Road
Wallington
Fareham
Hampshire
PO16 8SY
Hobby Casuals Limited
Statement of financial position
as at 31 March 2023
Tangible assets
2,571
2,924
Cash at bank and in hand
18,888
22,876
Creditors: amounts falling due within one year
(10,765)
(13,326)
Net current assets
24,888
25,966
Total assets less current liabilities
27,459
28,890
Creditors: amounts falling due after more than one year
(10,500)
(15,000)
Called up share capital
100
100
Profit and loss account
16,859
13,790
Shareholders' funds
16,959
13,890
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 3 December 2023 and were signed on its behalf by
Mrs J Roderick
Director
Company Registration No. 06637551
Hobby Casuals Limited
Notes to the Accounts
for the year ended 31 March 2023
Hobby Casuals Limited is a private company, limited by shares, registered in England and Wales, registration number 06637551. The registered office is 18 Drift Road, Fareham, Hampshire, PO16 8SY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VATand discounts, of goods provided to customersand work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% per annum of net book value
Computer equipment
33% straight line basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Impairment of intangible fixed assts is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Hobby Casuals Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
53,554
374
53,928
At 31 March 2023
53,554
374
53,928
At 1 April 2022
50,630
374
51,004
Charge for the year
353
-
353
At 31 March 2023
50,983
374
51,357
At 31 March 2023
2,571
-
2,571
At 31 March 2022
2,924
-
2,924
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
4,500
4,500
Taxes and social security
4,582
1,778
Loans from directors
1,237
3,409
Hobby Casuals Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 2 (2022: 2).
