Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activitytrue732022-04-01false72trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC112396 2022-04-01 2023-03-31 SC112396 2021-04-01 2022-03-31 SC112396 2023-03-31 SC112396 2022-03-31 SC112396 c:Director2 2022-04-01 2023-03-31 SC112396 c:Director3 2022-04-01 2023-03-31 SC112396 c:Director4 2022-04-01 2023-03-31 SC112396 c:Director5 2022-04-01 2023-03-31 SC112396 c:RegisteredOffice 2022-04-01 2023-03-31 SC112396 d:Buildings 2022-04-01 2023-03-31 SC112396 d:Buildings 2023-03-31 SC112396 d:Buildings 2022-03-31 SC112396 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC112396 d:PlantMachinery 2022-04-01 2023-03-31 SC112396 d:PlantMachinery 2023-03-31 SC112396 d:PlantMachinery 2022-03-31 SC112396 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC112396 d:MotorVehicles 2022-04-01 2023-03-31 SC112396 d:MotorVehicles 2023-03-31 SC112396 d:MotorVehicles 2022-03-31 SC112396 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC112396 d:FurnitureFittings 2022-04-01 2023-03-31 SC112396 d:FurnitureFittings 2023-03-31 SC112396 d:FurnitureFittings 2022-03-31 SC112396 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC112396 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC112396 d:FreeholdInvestmentProperty 2023-03-31 SC112396 d:FreeholdInvestmentProperty 2022-03-31 SC112396 d:CurrentFinancialInstruments 2023-03-31 SC112396 d:CurrentFinancialInstruments 2022-03-31 SC112396 d:Non-currentFinancialInstruments 2023-03-31 SC112396 d:Non-currentFinancialInstruments 2022-03-31 SC112396 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC112396 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC112396 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 SC112396 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 SC112396 d:ShareCapital 2023-03-31 SC112396 d:ShareCapital 2022-03-31 SC112396 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC112396 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC112396 c:OrdinaryShareClass2 2022-04-01 2023-03-31 SC112396 c:OrdinaryShareClass2 2023-03-31 SC112396 c:OrdinaryShareClass2 2022-03-31 SC112396 c:OrdinaryShareClass3 2022-04-01 2023-03-31 SC112396 c:OrdinaryShareClass3 2023-03-31 SC112396 c:OrdinaryShareClass3 2022-03-31 SC112396 c:OrdinaryShareClass4 2022-04-01 2023-03-31 SC112396 c:OrdinaryShareClass4 2023-03-31 SC112396 c:OrdinaryShareClass4 2022-03-31 SC112396 c:OrdinaryShareClass5 2022-04-01 2023-03-31 SC112396 c:OrdinaryShareClass5 2023-03-31 SC112396 c:OrdinaryShareClass5 2022-03-31 SC112396 c:FRS102 2022-04-01 2023-03-31 SC112396 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC112396 c:FullAccounts 2022-04-01 2023-03-31 SC112396 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC112396 d:WithinOneYear 2023-03-31 SC112396 d:WithinOneYear 2022-03-31 SC112396 d:BetweenOneFiveYears 2023-03-31 SC112396 d:BetweenOneFiveYears 2022-03-31 SC112396 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC112396










HATRICK-BRUCE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
HATRICK-BRUCE LIMITED
 

COMPANY INFORMATION


DIRECTORS
R Purvis 
J M Thomson 
I A Hall 
P Clark 




REGISTERED NUMBER
SC112396



REGISTERED OFFICE
Market House
South Street

Milnathort

Kinross

KY13 9XB




ACCOUNTANTS
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
HATRICK-BRUCE LIMITED
REGISTERED NUMBER: SC112396

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
590,499
493,777

Investments
 5 
50,000
50,000

Investment property
 6 
224,802
224,802

  
865,301
768,579

Current assets
  

Stocks
  
5,000
5,000

Debtors: amounts falling due within one year
 7 
2,451,935
2,183,419

Cash at bank and in hand
  
46,362
223,388

  
2,503,297
2,411,807

Creditors: amounts falling due within one year
 8 
(2,291,052)
(2,259,204)

Net current assets
  
 
 
212,245
 
 
152,603

Total assets less current liabilities
  
1,077,546
921,182

Creditors: amounts falling due after more than one year
 9 
(86,345)
(66,381)

Provisions for liabilities
  

Deferred tax
  
(62,431)
(43,563)

  
 
 
(62,431)
 
 
(43,563)

Net assets
  
928,770
811,238


Capital and reserves
  

Called up share capital 
 10 
32,000
32,000

Profit and loss account
  
896,770
779,238

  
928,770
811,238


Page 1

 
HATRICK-BRUCE LIMITED
REGISTERED NUMBER: SC112396

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




___________________________
I A Hall
___________________________
P Clark
Director
Director


Date: 18 October 2023


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HATRICK-BRUCE LIMITED
 

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

1.


General information

Hatrick-Bruce Limited is a private company, limited by shares, incorporated in Scotland with registration number SC112396.  The registered office is Market House, South Street, Milnathort, Kinross, KY13 9XB.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Turnover

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

Rendering of services

Turnover 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 turnover 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

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 3

 
HATRICK-BRUCE LIMITED
 

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

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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 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.

Page 4

 
HATRICK-BRUCE LIMITED
 

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

2.Accounting policies (continued)

 
2.7

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 both straight line and reducing balance methods.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance and 20% straight line

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.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

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.

 
2.11

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.

Page 5

 
HATRICK-BRUCE LIMITED
 

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

3.


Employees

The average monthly number of employees, including directors, during the year was 73 (2022 - 72).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
191,270
29,500
643,120
6,208
870,098


Additions
-
-
247,057
2,834
249,891


Disposals
-
-
(174,011)
-
(174,011)



At 31 March 2023

191,270
29,500
716,166
9,042
945,978



Depreciation


At 1 April 2022
26,577
19,388
324,712
5,644
376,321


Charge for the year on owned assets
3,826
2,528
106,874
148
113,376


Disposals
-
-
(134,218)
-
(134,218)



At 31 March 2023

30,403
21,916
297,368
5,792
355,479



Net book value



At 31 March 2023
160,867
7,584
418,798
3,250
590,499



At 31 March 2022
164,693
10,112
318,408
564
493,777

Page 6

 
HATRICK-BRUCE LIMITED
 

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

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
50,000



At 31 March 2023
50,000





6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2022
224,802



At 31 March 2023
224,802

The 2023 valuations were made by the directors', on an open market value for existing use basis.





7.


Debtors

2023
2022
£
£


Trade debtors
1,837,198
1,965,958

Amounts owed by group undertakings
56,147
76,293

Other debtors
540
-

Prepayments and accrued income
5,199
4,787

Amounts recoverable on long-term contracts
552,851
136,381

2,451,935
2,183,419


Page 7

 
HATRICK-BRUCE LIMITED
 

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

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
212,476
-

Bank loans
10,000
10,000

Payments received on account
230,000
-

Trade creditors
1,060,486
1,443,685

Other taxation and social security
495,864
513,606

Obligations under finance lease and hire purchase contracts
142,488
91,085

Other creditors
76,678
77,877

Accruals and deferred income
63,060
122,951

2,291,052
2,259,204


Secured loans
Bank overdrafts due within 1 year are secured by a floating charge over the whole assets of the company and standard security over one of the company's properties.  Obligations under finance leases and hire purchase contracts due within 1 year are secured over the assets they relate to.


9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
24,026
33,333

Net obligations under finance leases and hire purchase contracts
62,319
33,048

86,345
66,381


Secured loans
Obligations under finance leases and hire purchase contracts falling due after more than 1 year are secured over the assets they relate to. 

Page 8

 
HATRICK-BRUCE LIMITED
 

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

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



9,600 (2022 - 9,600) Ordinary A shares of £1.00 each
9,600
9,600
9,600 (2022 - 9,600) Ordinary B shares of £1.00 each
9,600
9,600
8,000 (2022 - 8,000) Ordinary C shares of £1.00 each
8,000
8,000
4,800 (2022 - 4,800) Ordinary D shares of £1.00 each
4,800
4,800

32,000

32,000



11.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
2,160
2,160

Later than 1 year and not later than 5 years
-
2,160

2,160
4,320


Page 9