Hampshire Business Computers Limited - Accounts to registrar (filleted) - small 23.2.5

Hampshire Business Computers Limited - Accounts to registrar (filleted) - small 23.2.5

HAMPSHIRE BUSINESS COMPUTERS LIMITED - Company Information

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REGISTERED NUMBER: 02050982 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Hampshire Business Computers Limited
Hampshire Business Computers Limited (Registered number: 02050982)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hampshire Business Computers Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mrs L A Penfound
Mr D D Ross





REGISTERED OFFICE: 1 Park Court Premier Way
Abbey Park Industrial Estate
Romsey
Hampshire
SO51 9DN





REGISTERED NUMBER: 02050982 (England and Wales)





ACCOUNTANTS: Talbot Accounting Solutions LLP
Bartley Cottage
Ringwood Road
Bartley
Southampton
Hampshire
SO40 7LD
Page 1
Hampshire Business Computers Limited (Registered number: 02050982)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,347 70,471
Investments 5 354,663 354,663
413,010 425,134

CURRENT ASSETS
Stocks 23,131 23,747
Debtors 6 637,800 548,580
Cash at bank and in hand 287,769 321,143
948,700 893,470
CREDITORS
Amounts falling due within one year 7 838,256 693,532
NET CURRENT ASSETS 110,444 199,938
TOTAL ASSETS LESS CURRENT
LIABILITIES
523,454
625,072

CREDITORS
Amounts falling due after more than one
year
8
-
(9,918
)

PROVISIONS FOR LIABILITIES (14,587 ) (9,271 )
NET ASSETS 508,867 605,883

CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Other reserves (2,160,300 ) (1,410,300 )
Retained earnings 2,668,165 2,015,181
508,867 605,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 notes form part of these financial statements

Page 2 continued...
Hampshire Business Computers Limited (Registered number: 02050982)

Balance Sheet - continued
30 September 2023


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 17 May 2024 and were signed on its behalf by:





Mrs L A Penfound - Director


The notes form part of these financial statements

Page 3
Hampshire Business Computers Limited (Registered number: 02050982)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Hampshire Business Computers 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

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.

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

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Page 4 continued...
Hampshire Business Computers Limited (Registered number: 02050982)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Leases
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.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of
inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest
elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the
remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is
more representative of the time pattern in which economic benefits from the leases asset are consumed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 296,956
Additions 3,828
At 30 September 2023 300,784
DEPRECIATION
At 1 October 2022 226,485
Charge for year 15,952
At 30 September 2023 242,437
NET BOOK VALUE
At 30 September 2023 58,347
At 30 September 2022 70,471

5. FIXED ASSET INVESTMENTS

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Page 5 continued...
Hampshire Business Computers Limited (Registered number: 02050982)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 590,705 465,599
Other debtors 47,095 82,981
637,800 548,580

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts 9,918 8,501
Trade creditors 221,008 201,322
Amounts owed to group undertakings 4,663 2,197
Taxation and social security 342,200 266,089
Other creditors 260,467 215,423
838,256 693,532

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Hire purchase contracts - 9,918

9. CONTINGENT LIABILITIES

The sale to The Employee Ownership Trust ("EOT") occurred in the prior year and further funding will come from future resources available within the group without adversely affecting liquidity. This will ensure business
continuity and funds for profitable growth.

The transaction was financed by an initial capital contribution to the EOT, and further capital contributions
anticipated over the coming years. The capital contributions being structured to be affordable by reference to prudent base cash forecasts.

10. OTHER RESERVE MOVEMENT

During the prior year an Employee Ownership Trust was set up for the group for the benefit of the employees. Other movements in reserves represents the cash distributions made in connection with the formation of this Employee Ownership Trust.

Page 6