Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03248450 2022-04-01 2023-03-31 03248450 2021-04-01 2022-03-31 03248450 2023-03-31 03248450 2022-03-31 03248450 c:Director1 2022-04-01 2023-03-31 03248450 c:Director2 2022-04-01 2023-03-31 03248450 c:RegisteredOffice 2022-04-01 2023-03-31 03248450 d:Buildings 2023-03-31 03248450 d:Buildings 2022-03-31 03248450 d:CurrentFinancialInstruments 2023-03-31 03248450 d:CurrentFinancialInstruments 2022-03-31 03248450 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03248450 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03248450 d:ShareCapital 2023-03-31 03248450 d:ShareCapital 2022-03-31 03248450 d:RetainedEarningsAccumulatedLosses 2023-03-31 03248450 d:RetainedEarningsAccumulatedLosses 2022-03-31 03248450 c:FRS102 2022-04-01 2023-03-31 03248450 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03248450 c:FullAccounts 2022-04-01 2023-03-31 03248450 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Company registration number: 03248450







UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2023


HWG SERVICES LIMITED






































img7ac5.png                        

 


HWG SERVICES LIMITED
 


 
COMPANY INFORMATION


Directors
Mr J P F Hoare 
Mr K P Hoare 




Registered number
03248450



Registered office
Unit 1 River Rise
Titchfield Lane

Fareham

Hampshire

PO15 6DZ




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


HWG SERVICES LIMITED
REGISTERED NUMBER:03248450



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,000
20,000

  
20,000
20,000

Current assets
  

Debtors: amounts falling due within one year
 5 
265,228
263,317

Cash at bank and in hand
  
1,807
7,594

  
267,035
270,911

Creditors: amounts falling due within one year
 6 
(525,546)
(525,735)

Net current liabilities
  
 
 
(258,511)
 
 
(254,824)

Total assets less current liabilities
  
(238,511)
(234,824)

  

Net liabilities
  
(238,511)
(234,824)

Page 1

 


HWG SERVICES LIMITED
REGISTERED NUMBER:03248450


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(238,513)
(234,826)

  
(238,511)
(234,824)


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 period 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 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 by: 




Mr J P F Hoare
Director

Date: 31 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


HWG SERVICES LIMITED
 


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

1.


General information

HWG Services Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

At the balance sheet date the company had net current liabilities of £258,511 (2022 - £254,824). The company is reliant on the support of its directors who have expressed that this support will continue for the forseeable future and on this basis the accounts contine to be prepared on a going concern basis.

 
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.

Page 3

 


HWG SERVICES LIMITED
 


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

2.Accounting policies (continued)

 
2.4

Financial instruments

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

Financial instruments are recognised in the Company's Statement of Financial Position 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 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.
Page 4

 


HWG SERVICES LIMITED
 


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

2.Accounting policies (continued)


2.4
Financial instruments (continued)


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.


3.


Employees

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


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 April 2022
20,000



At 31 March 2023

20,000






Net book value



At 31 March 2023
20,000



At 31 March 2022
20,000

Page 5

 


HWG SERVICES LIMITED
 


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

5.


Debtors

2023
2022
£
£


Trade debtors
1,690
6,540

Amounts owed by group undertakings
253,132
250,132

Other debtors
10,406
6,645

265,228
263,317



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,761
-

Other creditors
521,785
525,735

525,546
525,735



7.


Related party transactions

Included in other creditors due within one year are loans from directors totalling £521,785 (2021 - £523,435). The loans are interest free.

Page 6