Company Registration No. 10708510 (England and Wales)
HANDOVER AGENCY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
HANDOVER AGENCY LIMITED
COMPANY INFORMATION
Directors
Mr C McNally
Mr D T W Tuck
Company number
10708510
Registered office
41 High Street
Quinton
Birmingham
B32 1AG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Barclays Bank Plc
15 Colmore Row
Birmingham
West Midlands
B3 2BH
HANDOVER AGENCY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
HANDOVER AGENCY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HANDOVER AGENCY LIMITED FOR THE YEAR ENDED 30 APRIL 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Handover Agency Limited for the year ended 30 April 2023 which comprise, the balance sheet 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 http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Handover Agency Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Handover Agency Limited and state those matters that we have agreed to state to the Board of Directors of Handover Agency Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Handover Agency Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Handover Agency 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 Handover Agency Limited. You consider that Handover Agency Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Handover Agency 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.

Ormerod Rutter Limited
26 September 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
HANDOVER AGENCY LIMITED
BALANCE SHEET
AS AT 30 APRIL 2023
30 April 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,395
9,206
Current assets
Debtors
4
25,842
27,287
Cash at bank and in hand
44,405
71,577
70,247
98,864
Creditors: amounts falling due within one year
5
(51,957)
(48,687)
Net current assets
18,290
50,177
Total assets less current liabilities
24,685
59,383
Creditors: amounts falling due after more than one year
6
(23,243)
(12,333)
Provisions for liabilities
7
(1,215)
(1,749)
Net assets
227
45,301
Capital and reserves
Called up share capital
9
200
200
Profit and loss reserves
27
45,101
Total equity
227
45,301

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

HANDOVER AGENCY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023
30 April 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 26 September 2023 and are signed on its behalf by:
Mr C McNally
Mr D T W Tuck
Director
Director
Company Registration No. 10708510
HANDOVER AGENCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
1
Accounting policies
Company information

Handover Agency Limited is a private company limited by shares incorporated in England and Wales. The registered office is 41 High Street, Quinton, Birmingham, B32 1AG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
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:

Fixtures and fittings
20% on reducing balance
Computer equipment
25% on cost
1.4
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.

HANDOVER AGENCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

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 lease asset are consumed.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 3).

HANDOVER AGENCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 May 2022
3,312
26,408
29,720
Additions
1,169
292
1,461
At 30 April 2023
4,481
26,700
31,181
Depreciation and impairment
At 1 May 2022
1,001
19,513
20,514
Depreciation charged in the year
869
3,403
4,272
At 30 April 2023
1,870
22,916
24,786
Carrying amount
At 30 April 2023
2,611
3,784
6,395
At 30 April 2022
2,311
6,895
9,206
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,217
16,670
Other debtors
20,625
10,617
25,842
27,287
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,636
4,000
Trade creditors
2,948
102
Taxation and social security
35,886
40,213
Other creditors
5,487
4,372
51,957
48,687
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
23,243
12,333
HANDOVER AGENCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 7 -
7
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
1,215
1,749
8
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Bank loans
30,879
16,333
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
0 Ordinary of £1 each
-
200
80 Ordinary A of £1 each
80
-
80 Ordinary B of £1 each
80
-
20 Ordinary C of £1 each
20
-
20 Ordinary D of £1 each
20
-
200
200

During the year, the company passed a special resolution to restructure its issued share capital through the creation of Ordinary A £1 shares, Ordinary B £1 shares, Ordinary C £1 shares and Ordinary D £1 shares. Subsequently the 200 Ordinary £1 shares already in issue were converted into the following on a one for one exchange basis:-

 

80 Ordinary A £1 shares

80 Ordinary B £1 shares

20 Ordinary C £1 shares

20 Ordinary D £1 shares

 

All rights and privileges attached to the shares remain unaltered.

HANDOVER AGENCY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 8 -
10
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan account
-
-
19,935
19,935
-
19,935
19,935

The loan account was repaid within nine months of the year end.

11
Ultimate controlling party

There is no ultimate controlling party.

2023-04-302022-05-01false26 September 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr I D JohnsonMr C McNallyMr D T W Tuck107085102022-05-012023-04-3010708510bus:Director22022-05-012023-04-3010708510bus:Director32022-05-012023-04-3010708510bus:Director12022-05-012023-04-3010708510bus:RegisteredOffice2022-05-012023-04-3010708510bus:Agent12022-05-012023-04-30107085102023-04-30107085102022-04-3010708510core:FurnitureFittings2023-04-3010708510core:ComputerEquipment2023-04-3010708510core:FurnitureFittings2022-04-3010708510core:ComputerEquipment2022-04-3010708510core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3010708510core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-3010708510core:CurrentFinancialInstruments2023-04-3010708510core:CurrentFinancialInstruments2022-04-3010708510core:Non-currentFinancialInstruments2023-04-3010708510core:Non-currentFinancialInstruments2022-04-3010708510core:ShareCapital2023-04-3010708510core:ShareCapital2022-04-3010708510core:RetainedEarningsAccumulatedLosses2023-04-3010708510core:RetainedEarningsAccumulatedLosses2022-04-3010708510core:ShareCapitalOrdinaryShares2023-04-3010708510core:ShareCapitalOrdinaryShares2022-04-3010708510core:FurnitureFittings2022-05-012023-04-3010708510core:ComputerEquipment2022-05-012023-04-30107085102021-05-012022-04-3010708510core:FurnitureFittings2022-04-3010708510core:ComputerEquipment2022-04-30107085102022-04-3010708510bus:OrdinaryShareClass12022-05-012023-04-3010708510bus:OrdinaryShareClass22022-05-012023-04-3010708510bus:OrdinaryShareClass32022-05-012023-04-3010708510bus:OrdinaryShareClass42022-05-012023-04-3010708510bus:OrdinaryShareClass52022-05-012023-04-3010708510bus:OrdinaryShareClass12023-04-3010708510bus:OrdinaryShareClass22023-04-3010708510bus:OrdinaryShareClass32023-04-3010708510bus:OrdinaryShareClass42023-04-3010708510bus:OrdinaryShareClass52023-04-3010708510bus:PrivateLimitedCompanyLtd2022-05-012023-04-3010708510bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-3010708510bus:FRS1022022-05-012023-04-3010708510bus:AuditExemptWithAccountantsReport2022-05-012023-04-3010708510bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP