Mr Hottubs Limited 04994710 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the selling and installation of hottubs Digita Accounts Production Advanced 6.30.9574.0 true true 04994710 2022-03-01 2023-02-28 04994710 2023-02-28 04994710 bus:OrdinaryShareClass1 2023-02-28 04994710 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-02-28 04994710 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-02-28 04994710 core:CurrentFinancialInstruments 2023-02-28 04994710 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04994710 core:Non-currentFinancialInstruments 2023-02-28 04994710 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 04994710 core:MotorVehicles 2023-02-28 04994710 core:OtherPropertyPlantEquipment 2023-02-28 04994710 bus:SmallEntities 2022-03-01 2023-02-28 04994710 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04994710 bus:FullAccounts 2022-03-01 2023-02-28 04994710 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 04994710 bus:RegisteredOffice 2022-03-01 2023-02-28 04994710 bus:Director1 2022-03-01 2023-02-28 04994710 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 04994710 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04994710 core:MotorVehicles 2022-03-01 2023-02-28 04994710 core:OtherPropertyPlantEquipment 2022-03-01 2023-02-28 04994710 core:PlantMachinery 2022-03-01 2023-02-28 04994710 countries:England 2022-03-01 2023-02-28 04994710 2022-02-28 04994710 core:MotorVehicles 2022-02-28 04994710 core:OtherPropertyPlantEquipment 2022-02-28 04994710 2021-03-01 2022-02-28 04994710 2022-02-28 04994710 bus:OrdinaryShareClass1 2022-02-28 04994710 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-02-28 04994710 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-02-28 04994710 core:CurrentFinancialInstruments 2022-02-28 04994710 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 04994710 core:Non-currentFinancialInstruments 2022-02-28 04994710 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 04994710 core:MotorVehicles 2022-02-28 04994710 core:OtherPropertyPlantEquipment 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04994710

Mr Hottubs Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Mr Hottubs Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Mr Hottubs Limited

Company Information

Director

Mr S Swinburn

Registered office

35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

 

Mr Hottubs Limited

(Registration number: 04994710)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

198,783

233,067

Current assets

 

Stocks

5

92,932

93,240

Debtors

6

13,905

2,273

Cash at bank and in hand

 

44,059

51,476

 

150,896

146,989

Creditors: Amounts falling due within one year

7

(39,458)

(37,238)

Net current assets

 

111,438

109,751

Total assets less current liabilities

 

310,221

342,818

Creditors: Amounts falling due after more than one year

7

(16,732)

(77,439)

Net assets

 

293,489

265,379

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

293,488

265,378

Shareholders' funds

 

293,489

265,379

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 October 2023
 

.........................................
Mr S Swinburn
Director

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

The principal place of business is:
65 High Street
Hatfield
Doncaster
South Yorkshire
DN7 6RS

These financial statements were authorised for issue by the director on 16 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% reducing balance

Plant & machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 3).

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

178,873

178,177

357,050

Additions

70,733

10,075

80,808

Disposals

(79,995)

-

(79,995)

At 28 February 2023

169,611

188,252

357,863

Depreciation

At 1 March 2022

25,232

98,751

123,983

Charge for the year

21,197

17,900

39,097

Eliminated on disposal

(4,000)

-

(4,000)

At 28 February 2023

42,429

116,651

159,080

Carrying amount

At 28 February 2023

127,182

71,601

198,783

At 28 February 2022

153,641

79,426

233,067

5

Stocks

2023
£

2022
£

Other inventories

92,932

93,240

6

Debtors

Current

2023
£

2022
£

Trade debtors

5,257

2,273

Other debtors

8,648

-

 

13,905

2,273

7

Creditors

Creditors: amounts falling due within one year

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

14,289

10,895

Taxation and social security

 

6,747

18,645

Accruals and deferred income

 

1,600

1,600

Other creditors

 

16,822

6,098

 

39,458

37,238

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

16,732

77,439

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

2,232

37,038

Hire purchase contracts

14,500

40,401

16,732

77,439

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,119

10,432

Hire purchase contracts

4,170

463

14,289

10,895