Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-05-01falseThe prinicpal actiivity throughout the year was that of IT consultancy.11true 10150877 2022-05-01 2023-04-30 10150877 2021-05-01 2022-04-30 10150877 2023-04-30 10150877 2022-04-30 10150877 c:Director1 2022-05-01 2023-04-30 10150877 d:FurnitureFittings 2022-05-01 2023-04-30 10150877 d:FurnitureFittings 2023-04-30 10150877 d:FurnitureFittings 2022-04-30 10150877 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 10150877 d:CurrentFinancialInstruments 2023-04-30 10150877 d:CurrentFinancialInstruments 2022-04-30 10150877 d:Non-currentFinancialInstruments 2023-04-30 10150877 d:Non-currentFinancialInstruments 2022-04-30 10150877 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10150877 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 10150877 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10150877 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 10150877 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10150877 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-04-30 10150877 d:ShareCapital 2023-04-30 10150877 d:ShareCapital 2022-04-30 10150877 d:RetainedEarningsAccumulatedLosses 2023-04-30 10150877 d:RetainedEarningsAccumulatedLosses 2022-04-30 10150877 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 10150877 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-04-30 10150877 c:FRS102 2022-05-01 2023-04-30 10150877 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 10150877 c:FullAccounts 2022-05-01 2023-04-30 10150877 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 10150877









HOUNSOME IT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

 
HOUNSOME IT LIMITED
REGISTERED NUMBER: 10150877

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,423
1,898

  
1,423
1,898

Current assets
  

Debtors: amounts falling due within one year
 5 
4,406
5,202

Cash at bank and in hand
 6 
3,282
382

  
7,688
5,584

Creditors: amounts falling due within one year
 7 
(14,997)
(3,048)

Net current (liabilities)/assets
  
 
 
(7,309)
 
 
2,536

Total assets less current liabilities
  
(5,886)
4,434

Creditors: amounts falling due after more than one year
 8 
-
(4,433)

  

Net (liabilities)/assets
  
(5,886)
1


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(5,887)
-

  
(5,886)
1

Page 1

 
HOUNSOME IT LIMITED
REGISTERED NUMBER: 10150877
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 October 2023.




................................................
Brian Hounsome
Director

Page 2

 
HOUNSOME IT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

The Company is incorporated in England and Wales and is limited by share capital. The principal activity of the Company is IT consultancy. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis. This assumes the continued support of the director which he has pledged for the foreseeable future. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HOUNSOME IT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
HOUNSOME IT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

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

 
2.12

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
HOUNSOME IT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 May 2022
4,718



At 30 April 2023

4,718



Depreciation


At 1 May 2022
2,820


Charge for the year on owned assets
475



At 30 April 2023

3,295



Net book value



At 30 April 2023
1,423



At 30 April 2022
1,898

Page 6

 
HOUNSOME IT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

5.


Debtors

2023
2022
£
£


Trade debtors
3,520
-

Other debtors
886
5,202

4,406
5,202


Included within other debtors is a loan to Brian Hounsome, the director, amounting to £Nil (2022 - £5,075).




6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,282
382

3,282
382



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
1,400

Corporation tax
-
244

Other creditors
14,235
-

Accruals and deferred income
762
1,404

14,997
3,048


Included in other creditors, is a directors loan balance of £14,235 (2022 - £Nil) in relation to Brian Hounsome, the director.

Page 7

 
HOUNSOME IT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
4,433

-
4,433



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
1,400

Amounts falling due 2-5 years

Bank loans
-
4,433

-
5,833



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
3,282
382




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 8

 
HOUNSOME IT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


11.


Pension commitments

The Company operates a defined contributions pension scheme in respect of the employees. The assets
of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to
£550 (2022- £140). There were no contributions payable to the fund at the balance sheet date.


12.


Controlling party

The Company was controlled throughout the year by the director Brian Hounsome, by virtue of his shareholding, as detailed in the director's report.

 
Page 9