Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01false23truetrue 04302778 2022-04-01 2023-03-31 04302778 2021-04-01 2022-03-31 04302778 2023-03-31 04302778 2022-03-31 04302778 2021-04-01 04302778 c:Director1 2022-04-01 2023-03-31 04302778 d:OfficeEquipment 2022-04-01 2023-03-31 04302778 d:OfficeEquipment 2023-03-31 04302778 d:OfficeEquipment 2022-03-31 04302778 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04302778 d:CurrentFinancialInstruments 2023-03-31 04302778 d:CurrentFinancialInstruments 2022-03-31 04302778 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04302778 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04302778 d:ShareCapital 2023-03-31 04302778 d:ShareCapital 2022-03-31 04302778 d:CapitalRedemptionReserve 2023-03-31 04302778 d:CapitalRedemptionReserve 2022-03-31 04302778 d:RevaluationReserve 2023-03-31 04302778 d:RevaluationReserve 2022-03-31 04302778 d:RetainedEarningsAccumulatedLosses 2023-03-31 04302778 d:RetainedEarningsAccumulatedLosses 2022-03-31 04302778 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04302778 c:OrdinaryShareClass1 2023-03-31 04302778 c:OrdinaryShareClass1 2022-03-31 04302778 c:FRS102 2022-04-01 2023-03-31 04302778 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04302778 c:FullAccounts 2022-04-01 2023-03-31 04302778 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04302778 d:OtherDeferredTax 2023-03-31 04302778 d:OtherDeferredTax 2022-03-31 04302778 2 2022-04-01 2023-03-31 04302778 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04302778









HUNTERS BUSINESS SERVICES LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
HUNTERS BUSINESS SERVICES LIMITED
REGISTERED NUMBER: 04302778

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,061
1,729

Investments
 5 
90,591
106,238

  
91,652
107,967

Current assets
  

Debtors: amounts falling due within one year
 6 
10,377
11,990

Cash at bank and in hand
  
374,654
296,571

  
385,031
308,561

Creditors: amounts falling due within one year
 7 
(33,637)
(19,044)

Net current assets
  
 
 
351,394
 
 
289,517

Total assets less current liabilities
  
443,046
397,484

Provisions for liabilities
  

Deferred tax
 8 
(3,206)
(5,426)

  
 
 
(3,206)
 
 
(5,426)

Net assets
  
439,840
392,058


Capital and reserves
  

Called up share capital 
 9 
1
1

Revaluation reserve
  
9,617
23,131

Capital redemption reserve
  
1
1

Profit and loss account
  
430,221
368,925

  
439,840
392,058


Page 1

 
HUNTERS BUSINESS SERVICES LIMITED
REGISTERED NUMBER: 04302778

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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 2 November 2023.




J L Hunter Esq
Director

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

Page 2

 
HUNTERS BUSINESS SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

Hunters Business Services Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is 4 Shrubbery Close, Hessett, Bury St Edmunds, Suffolk, IP30 9GP. The company is not part of a group.

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:

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.

 
2.3

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

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 3

 
HUNTERS BUSINESS SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

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.

 
2.6

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.

 
2.7

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 4

 
HUNTERS BUSINESS SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.7
FINANCIAL INSTRUMENTS (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.8

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.

Page 5

 
HUNTERS BUSINESS SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

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.

 
2.10

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.

 
2.11

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 the Statement of Comprehensive Income 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.

 
2.12

INTEREST INCOME

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

 
2.13

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 balance sheet 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 Balance Sheet.

Page 6

 
HUNTERS BUSINESS SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

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 balance sheet 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 balance sheet 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 balance sheet date.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 2 (2022 - 3).

Page 7

 
HUNTERS BUSINESS SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


TANGIBLE FIXED ASSETS





Office equipment

£



Cost or valuation


At 1 April 2022
3,153



At 31 March 2023

3,153



Depreciation


At 1 April 2022
1,424


Charge for the year on owned assets
668



At 31 March 2023

2,092



Net book value



At 31 March 2023
1,061



At 31 March 2022
1,729


5.


FIXED ASSET INVESTMENTS





Listed investments

£



Cost or valuation


At 1 April 2022
106,238


Additions
87


Revaluations
(15,734)



At 31 March 2023
90,591




Page 8

 
HUNTERS BUSINESS SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


DEBTORS




2023
2022
£
£

Trade debtors
6,904
9,064

Other debtors
-
82

Prepayments and accrued income
3,473
2,844

10,377
11,990



7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
483
425

Corporation tax
22,970
9,935

Other taxation and social security
6,890
5,413

Other creditors
1,374
1,452

Accruals and deferred income
1,920
1,819

33,637
19,044



8.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
(5,426)
(6,866)


Charged to profit or loss
2,220
1,440



At end of year
(3,206)
(5,426)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Unrealised gains on listed investments
(3,206)
(5,426)

(3,206)
(5,426)

Page 9

 
HUNTERS BUSINESS SERVICES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) ordinary shares of £0.50 (2022 - £0.50) each
1
1

During the year there was a sub-division of the company's shares. The aggregate nominal value remains unchanged.



10.


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 £14 (2022- £173).
Contributions totalling £NIL (2022 - £34) were payable to the fund at the balance sheet date.

Page 10