Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-316Heating, air conditioning and ventilation engineeringtrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-02-01false6true 01195904 2022-02-01 2023-01-31 01195904 2021-02-01 2022-01-31 01195904 2023-01-31 01195904 2022-01-31 01195904 c:Director2 2022-02-01 2023-01-31 01195904 d:MotorVehicles 2022-02-01 2023-01-31 01195904 d:MotorVehicles 2023-01-31 01195904 d:MotorVehicles 2022-01-31 01195904 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 01195904 d:FurnitureFittings 2022-02-01 2023-01-31 01195904 d:FurnitureFittings 2023-01-31 01195904 d:FurnitureFittings 2022-01-31 01195904 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 01195904 d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 01195904 d:CurrentFinancialInstruments 2023-01-31 01195904 d:CurrentFinancialInstruments 2022-01-31 01195904 d:Non-currentFinancialInstruments 2023-01-31 01195904 d:Non-currentFinancialInstruments 2022-01-31 01195904 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 01195904 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 01195904 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 01195904 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 01195904 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 01195904 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 01195904 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 01195904 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 01195904 d:ShareCapital 2023-01-31 01195904 d:ShareCapital 2022-01-31 01195904 d:RetainedEarningsAccumulatedLosses 2023-01-31 01195904 d:RetainedEarningsAccumulatedLosses 2022-01-31 01195904 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 01195904 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-01-31 01195904 c:FRS102 2022-02-01 2023-01-31 01195904 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 01195904 c:FullAccounts 2022-02-01 2023-01-31 01195904 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 01195904 2 2022-02-01 2023-01-31 01195904 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 01195904 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 01195904









HUGGINS & SQUIRE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
HUGGINS & SQUIRE LTD
REGISTERED NUMBER: 01195904

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,917
7,160

  
5,917
7,160

Current assets
  

Stocks
  
21,459
25,799

Debtors: amounts falling due within one year
 5 
199,565
119,501

Cash at bank and in hand
 6 
100
2,169

  
221,124
147,469

Creditors: amounts falling due within one year
 7 
(174,269)
(83,875)

Net current assets
  
 
 
46,855
 
 
63,594

Total assets less current liabilities
  
52,772
70,754

Creditors: amounts falling due after more than one year
 8 
(30,234)
(40,000)

Provisions for liabilities
  

Deferred tax
 11 
(937)
(1,173)

  
 
 
(937)
 
 
(1,173)

Net assets
  
21,601
29,581


Capital and reserves
  

Called up share capital 
  
25,188
25,188

Profit and loss account
  
(3,587)
4,393

  
21,601
29,581


Page 1

 
HUGGINS & SQUIRE LTD
REGISTERED NUMBER: 01195904
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider 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 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 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 comprehensive income 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 19 October 2023.




................................................
M. Collis
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

The legal form of the entity is a private company limited by shares, registered in England and Wales and the registered address is situated at Unit 3 Bradburys Court, Lyon Road, Harrow, Middlesex, HA1 2BY.

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

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

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:

Motor vehicles
-
25%
Fixtures and fittings
-
10%

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.

Page 5

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 6

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.16

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 6 (2022 - 6).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 February 2022
30,080
35,121
65,201


Additions
-
(366)
(366)



At 31 January 2023

30,080
34,755
64,835



Depreciation


At 1 February 2022
26,574
31,467
58,041


Charge for the year on financed assets
877
-
877



At 31 January 2023

27,451
31,467
58,918



Net book value



At 31 January 2023
2,629
3,288
5,917



At 31 January 2022
3,506
3,654
7,160

Page 7

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
58,383
69,116

Other debtors
10,713
385

Prepayments and accrued income
130,469
50,000

199,565
119,501



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
100
2,169

Less: bank overdrafts
(86,875)
(28,952)

(86,775)
(26,783)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
86,875
28,952

Bank loans
10,000
9,167

Trade creditors
61,637
29,075

Corporation tax
4,840
6,711

Other taxation and social security
3,676
5,580

Other creditors
4,501
1,955

Accruals and deferred income
2,740
2,435

174,269
83,875


Page 8

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
30,234
40,000

30,234
40,000



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
9,167


10,000
9,167

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
20,234
30,000


20,234
30,000


40,234
49,167



10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
100
2,169



Page 9

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

11.


Deferred taxation




2023


£






At beginning of year
(1,173)


Charged to profit or loss
236



At end of year
(937)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(937)
(1,173)

(937)
(1,173)


12.


Pension commitments

The Company operates a defined contributions pension scheme. 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 £4,629 (2022 - £4,232).  Contributions totalling £2,958 (2022 - £1,933) were payable to the fund at the reporting date and are included in creditors.


13.


Transactions with directors

As at the balance sheet date the company owed £645 (2022 - £23) to the directors that is included in other creditors amounts falling due within one year.  The principal terms of the advance are that they are repayable on demand and provided free of interest. 
 
Page 10