Registered number
SC334518
Hands on Business Support Limited
Filleted Accounts
for the year ended 31 March 2023
Hands on Business Support Limited
Registered number: SC334518
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 18,907 19,903
Tangible assets 4 565 665
19,472 20,568
Current assets
Cash at bank and in hand 16,900 15,925
Creditors: amounts falling due within one year 5 (38,670) (45,254)
Net current liabilities (21,770) (29,329)
Net liabilities (2,298) (8,761)
Capital and reserves
Called up share capital 1 1
Profit and loss account (2,299) (8,762)
Shareholder's funds (2,298) (8,761)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Christine McGrory
Director
Approved by the board on 25 October 2023
Hands on Business Support Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% Reducing balance
Fixtures and fittings 15% Reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 40,000
At 31 March 2023 40,000
Amortisation
At 1 April 2022 20,097
Provided during the year 996
At 31 March 2023 21,093
Net book value
At 31 March 2023 18,907
At 31 March 2022 19,903
Goodwill is being written off at 5% reducing balance.
4 Tangible fixed assets
Plant and machinery Fixtures and fittings Total
£ £ £
Cost
At 1 April 2022 1,488 3,451 4,939
At 31 March 2023 1,488 3,451 4,939
Depreciation
At 1 April 2022 1,221 3,053 4,274
Charge for the year 63 37 100
At 31 March 2023 1,284 3,090 4,374
Net book value
At 31 March 2023 204 361 565
At 31 March 2022 267 398 665
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 3,563
Other creditors < 1 year 675 675
Other loans < 1 year 17,674 20,000
Employer's Pension Contributions 34 -
Other taxes and social security costs (88) (1)
Accruals 368 1,068
Director's account 20,008 19,950
Corporation tax (1) (1)
38,670 45,254
6 Profit and loss account 2023
£
At 1 April 2022 (8,762)
Profit/(loss) for the year 6,463
Dividend -
At 31 March 2023 (2,299)
7 Related party transactions
Included within the creditors at the year end is £20,008 (2022: £19,950) due to C McGrory, the company director. During the period the company paid £27,642 of expenses on behalf of the director and the director introduced £27,700.
8 Controlling party
The ultimate controlling party is the sole director and shareholder Ms Christine McGrory.
9 Other information
Hands on Business Support Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
3/2 162 Main Street
Rutherglen
Glasgow
G73 2HW
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