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COMPANY REGISTRATION NUMBER: 04895873
Hague Nicholls Limited
Filleted Unaudited Financial Statements
31 March 2022
Hague Nicholls Limited
Financial Statements
Period from 1 October 2020 to 31 March 2022
Contents
Pages
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Hague Nicholls Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Hague Nicholls Limited
Period from 1 October 2020 to 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hague Nicholls Limited for the period ended 31 March 2022, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Hague Nicholls Limited, as a body, in accordance with the terms of our engagement letter dated 21 January 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Hague Nicholls Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hague Nicholls Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Hague Nicholls Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hague Nicholls Limited. You consider that Hague Nicholls Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Hague Nicholls Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
15 August 2022
Hague Nicholls Limited
Statement of Financial Position
31 March 2022
31 Mar 22
30 Sep 20
Note
£
£
Fixed assets
Tangible assets
6
503
Current assets
Debtors
7
25,135
54,632
Cash at bank and in hand
42,110
31,500
--------
--------
67,245
86,132
Creditors: amounts falling due within one year
8
6,919
17,344
--------
--------
Net current assets
60,326
68,788
--------
--------
Total assets less current liabilities
60,326
69,291
Provisions
Taxation including deferred tax
96
--------
--------
Net assets
60,326
69,195
--------
--------
Hague Nicholls Limited
Statement of Financial Position (continued)
31 March 2022
31 Mar 22
30 Sep 20
Note
£
£
Capital and reserves
Called up share capital
2
2
Capital redemption reserve
1
1
Profit and loss account
60,323
69,192
--------
--------
Shareholders funds
60,326
69,195
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 August 2022 , and are signed on behalf of the board by:
Mr D A Hague
Mr D W Nicholls
Director
Director
Company registration number: 04895873
Hague Nicholls Limited
Notes to the Financial Statements
Period from 1 October 2020 to 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Chatsworth Road, Sheffield, S17 3QH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible 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 the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the 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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Government grants
Income from Government grants is in respect of small business grant fund and coronavirus job retention scheme.
5. Employee numbers
The average number of persons employed by the company during the period amounted to 3 (2020: 3 ).
6. Tangible assets
Office Equipment
Total
£
£
Cost
At 1 October 2020
6,923
6,923
Disposals
( 6,923)
( 6,923)
-------
-------
At 31 March 2022
-------
-------
Depreciation
At 1 October 2020
6,420
6,420
Charge for the period
268
268
Disposals
( 6,688)
( 6,688)
-------
-------
At 31 March 2022
-------
-------
Carrying amount
At 31 March 2022
-------
-------
At 30 September 2020
503
503
-------
-------
7. Debtors
31 Mar 22
30 Sep 20
£
£
Trade debtors
25,000
52,377
Other debtors
135
2,255
--------
--------
25,135
54,632
--------
--------
8. Creditors: amounts falling due within one year
31 Mar 22
30 Sep 20
£
£
Trade creditors
174
Corporation tax
1,500
7,136
Social security and other taxes
692
8,587
Other creditors
4,553
1,621
-------
--------
6,919
17,344
-------
--------