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Registration number: 05690174

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

for
 

Hawkins Wright Limited

 

Hawkins Wright Limited

Contents of the Financial Statements
for the Year Ended 30 April 2023

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Hawkins Wright Limited

Company Information
for the Year Ended 30 April 2023

Directors:

R A Wright

T Wright

O Lansdell

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

05690174

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Hawkins Wright Limited

(Registration number: 05690174)
Balance Sheet as at 30 April 2023

Note

30.04.23

30.04.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

5

 

483,954

 

482,986

Other financial assets

6

 

125,497

 

120,683

   

609,451

 

603,669

CURRENT ASSETS

   

 

Debtors

7

261,045

 

322,924

 

Cash at bank and in hand

 

645,077

 

605,424

 

 

906,122

 

928,348

 

CREDITORS

   

 

Creditors within 1yr

8

877,801

 

844,628

 

Net current assets

   

28,321

 

83,720

Total assets less current liabilities

   

637,772

 

687,389

Creditors
Amounts falling due after more than one year

8

 

-

 

44,146

PROVISIONS FOR LIABILITIES

 

(1,849)

 

(1,221)

Net assets

   

635,923

 

642,022

CAPITAL AND RESERVES

   

 

Called up share capital

9

 

90

 

90

Share premium reserve

 

39,990

 

39,990

Capital redemption reserve

 

20

 

20

Profit and loss account

 

595,823

 

601,922

Shareholders' funds

   

635,923

 

642,022

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Hawkins Wright Limited

(Registration number: 05690174)
Balance Sheet as at 30 April 2023 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 November 2023 and signed on its behalf by:
 

.........................................
T Wright
Director

 

Hawkins Wright Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the Board on 27 November 2023.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Hawkins Wright Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.


The Group is part of a tax group for certain aspects of the tax legislation. One of these aspects relates to group relief whereby current tax liabilities can be offset by current tax losses arising in other companies within the same tax group. Payment for group relief is made equal to the tax benefit and amounts are included within the current tax disclosures.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short leasehold

20% straight line basis

Fixtures and fittings

25% straight line basis

Computer equipment

25% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Hawkins Wright Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023 (continued)

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and
the company has no legal or constructive obligation to pay further contributions even if the fund does not hold
sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If
contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
 

3.

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 9).

 

Hawkins Wright Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023 (continued)

4.

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2022

330,269

330,269

At 30 April 2023

330,269

330,269

Amortisation

At 1 May 2022

330,269

330,269

At 30 April 2023

330,269

330,269

Carrying amount

At 30 April 2023

-

-

5.

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2022

481,531

84,783

566,314

Additions

-

6,161

6,161

At 30 April 2023

481,531

90,944

572,475

Depreciation

At 1 May 2022

4,971

78,357

83,328

Charge for the year

-

5,193

5,193

At 30 April 2023

4,971

83,550

88,521

Carrying amount

At 30 April 2023

476,560

7,394

483,954

At 30 April 2022

476,560

6,426

482,986

 

Hawkins Wright Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023 (continued)

6.

Other financial assets (current and non-current)

Other
investments
£

Non-current financial assets

Cost or valuation

At 1 May 2022

120,683

Revaluations

3,726

Additions

1,088

At 30 April 2023

125,497

NET BOOK VALUE

At 30 April 2023

125,497

At 30 April 2022

120,683

7.

Debtors

Current

Note

30.04.23
£

30.04.22
£

Trade debtors

 

167,116

265,349

Amounts owed by related parties

61,260

43,135

Prepayments

 

23,878

14,231

Other debtors

 

8,791

209

   

261,045

322,924

 

Hawkins Wright Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 April 2023 (continued)

8.

Creditors

Creditors: amounts falling due within one year

Note

30.04.23
£

30.04.22
£

Due within one year

 

Loans and borrowings

10

-

15,943

Trade creditors

 

4,830

1,481

Taxation and social security

 

212,109

215,639

Accruals and deferred income

 

660,862

611,565

 

877,801

844,628

Creditors: amounts falling due after more than one year

Note

30.04.23
£

30.04.22
£

Due after one year

 

Loans and borrowings

10

-

44,146

9.

Share capital

Allotted, called up and fully paid shares

 

30.04.23

30.04.22

 

No.

£

No.

£

Ordinary shares of £1 each

90

90

90

90

         

10.

Loans and borrowings

30.04.23
£

30.04.22
£

Non-current loans and borrowings

Bank borrowings

-

44,146

30.04.23
£

30.04.22
£

Current loans and borrowings

Bank borrowings

-

15,943