Silverfin false 31/03/2023 01/04/2022 31/03/2023 Donna Bulmer 09/12/2020 Stephen Easton 31/03/2021 Jonathan Scott 09/12/2020 19 September 2023 The principal activity of the Company during the financial year was providing accounting services. 13073782 2023-03-31 13073782 bus:Director1 2023-03-31 13073782 bus:Director2 2023-03-31 13073782 bus:Director3 2023-03-31 13073782 2022-03-31 13073782 core:CurrentFinancialInstruments 2023-03-31 13073782 core:CurrentFinancialInstruments 2022-03-31 13073782 core:Non-currentFinancialInstruments 2023-03-31 13073782 core:Non-currentFinancialInstruments 2022-03-31 13073782 core:ShareCapital 2023-03-31 13073782 core:ShareCapital 2022-03-31 13073782 core:RetainedEarningsAccumulatedLosses 2023-03-31 13073782 core:RetainedEarningsAccumulatedLosses 2022-03-31 13073782 core:Goodwill 2022-03-31 13073782 core:Goodwill 2023-03-31 13073782 core:OtherPropertyPlantEquipment 2022-03-31 13073782 core:OtherPropertyPlantEquipment 2023-03-31 13073782 bus:OrdinaryShareClass1 2023-03-31 13073782 2022-04-01 2023-03-31 13073782 bus:FullAccounts 2022-04-01 2023-03-31 13073782 bus:SmallEntities 2022-04-01 2023-03-31 13073782 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 13073782 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13073782 bus:Director1 2022-04-01 2023-03-31 13073782 bus:Director2 2022-04-01 2023-03-31 13073782 bus:Director3 2022-04-01 2023-03-31 13073782 core:Goodwill core:TopRangeValue 2022-04-01 2023-03-31 13073782 core:Goodwill 2022-04-01 2023-03-31 13073782 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-04-01 2023-03-31 13073782 2020-12-09 2022-03-31 13073782 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 13073782 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 13073782 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 13073782 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 13073782 bus:OrdinaryShareClass1 2020-12-09 2022-03-31 13073782 1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13073782 (England and Wales)

HAINES WATTS TEES VALLEY LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

HAINES WATTS TEES VALLEY LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

HAINES WATTS TEES VALLEY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
HAINES WATTS TEES VALLEY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Donna Bulmer
Stephen Easton
Jonathan Scott
REGISTERED OFFICE Sterling House
22 St. Cuthbert's Way
Darlington
DL1 1GB
England
United Kingdom
COMPANY NUMBER 13073782 (England and Wales)
HAINES WATTS TEES VALLEY LIMITED

BALANCE SHEET

As at 31 March 2023
HAINES WATTS TEES VALLEY LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 31.03.2023 31.03.2022
£ £
Fixed assets
Intangible assets 3 138,839 156,194
Tangible assets 4 15,318 18,159
154,157 174,353
Current assets
Debtors 5 316,701 333,370
Cash at bank and in hand 112,806 91,578
429,507 424,948
Creditors: amounts falling due within one year 6 ( 76,222) ( 84,832)
Net current assets 353,285 340,116
Total assets less current liabilities 507,442 514,469
Creditors: amounts falling due after more than one year 7 ( 499,304) ( 499,304)
Net assets 8,138 15,165
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 8,136 15,163
Total shareholders' funds 8,138 15,165

For the financial 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.

Directors' responsibilities:

The financial statements of Haines Watts Tees Valley Limited (registered number: 13073782) were approved and authorised for issue by the Board of Directors on 19 September 2023. They were signed on its behalf by:

Donna Bulmer
Director
HAINES WATTS TEES VALLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
HAINES WATTS TEES VALLEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Haines Watts Tees Valley Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sterling House, 22 St. Cuthbert's Way, Darlington, DL1 1GB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Turnover 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 turnover 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.

Turnover is recognised when a right to consideration has been obtained in exchange for performance of contractual obligations. Income is recorded at the fair value of the right to consideration, including partner time, and after deducting allowances for discounts, credit risk and other uncertainties relating to clients’ willingness to pay.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 10 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Short term creditors and loans from directors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
31.03.2023
Period from
09.12.2020 to
31.03.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 8 10

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 195,242 195,242
At 31 March 2023 195,242 195,242
Accumulated amortisation
At 01 April 2022 39,048 39,048
Charge for the financial year 17,355 17,355
At 31 March 2023 56,403 56,403
Net book value
At 31 March 2023 138,839 138,839
At 31 March 2022 156,194 156,194

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 24,211 24,211
Additions 1,772 1,772
At 31 March 2023 25,983 25,983
Accumulated depreciation
At 01 April 2022 6,052 6,052
Charge for the financial year 4,613 4,613
At 31 March 2023 10,665 10,665
Net book value
At 31 March 2023 15,318 15,318
At 31 March 2022 18,159 18,159

5. Debtors

31.03.2023 31.03.2022
£ £
Trade debtors 115,916 154,007
Amounts recoverable on contracts 62,160 34,400
Prepayments 17,959 28,419
Other debtors 120,666 116,544
316,701 333,370

6. Creditors: amounts falling due within one year

31.03.2023 31.03.2022
£ £
Trade creditors 27,056 16,727
Other creditors 49,166 68,105
76,222 84,832

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

31.03.2023 31.03.2022
£ £
Other creditors 499,304 499,304

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

31.03.2023 31.03.2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

31.03.2023 31.03.2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 1,086 0

10. Related party transactions

Transactions with owners holding a participating interest in the entity

31.03.2023 31.03.2022
£ £
Interest free amounts owed from the companies 120,666 119,837

Transactions with the entity's directors

31.03.2023 31.03.2022
£ £
Amounts owed to directors 499,304 499,304

11. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.