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Charles Hobbs Technology Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

Registration number: 5038111

 

Charles Hobbs Technology Consulting Limited

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Charles Hobbs Technology Consulting Limited

(Registration number: 5038111)
Statement of financial position as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,329

3,606

Current assets

 

Debtors

5

51,074

71,886

Cash at bank and in hand

 

5,494

21

 

56,568

71,907

Creditors: Amounts falling due within one year

6

(20,309)

(32,493)

Net current assets

 

36,259

39,414

Total assets less current liabilities

 

39,588

43,020

Creditors: Amounts falling due after more than one year

6

(8,887)

(12,837)

Provisions for liabilities

(633)

(685)

Net assets

 

30,068

29,498

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

30,067

29,497

Shareholders' funds

 

30,068

29,498

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Charles Hobbs Technology Consulting Limited

(Registration number: 5038111)
Statement of financial position as at 28 February 2023

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 director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 6 November 2023
 

.........................................
Mr C Hobbs
Director

 

Charles Hobbs Technology Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Tax

The tax expense for the period comprises current 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.

 

Charles Hobbs Technology Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Office equipment

25% Reducing balance

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Charles Hobbs Technology Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

20,275

20,275

Additions

561

561

At 28 February 2023

20,836

20,836

Depreciation

At 1 March 2022

16,669

16,669

Charge for the year

838

838

At 28 February 2023

17,507

17,507

Carrying amount

At 28 February 2023

3,329

3,329

At 28 February 2022

3,606

3,606

 

Charles Hobbs Technology Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

5

Debtors

Current

2023
£

2022
£

Trade debtors

6,131

15,399

Prepayments

-

2,188

Other debtors

44,943

54,299

 

51,074

71,886

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

3,950

11,465

Trade creditors

 

-

561

Taxation and social security

 

14,759

18,867

Accruals and deferred income

 

1,600

1,600

 

20,309

32,493

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

8,887

12,837

 

Charles Hobbs Technology Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bounce Back Loan

8,887

12,837

2023
£

2022
£

Current loans and borrowings

Bounce Back Loan

3,950

3,950

Bank overdrafts

-

7,515

3,950

11,465

 

Charles Hobbs Technology Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

9

Related party transactions

Transactions with the director

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr C Hobbs

Loan at 2% interest per annum

52,825

50,559

(60,250)

43,134

         
       

 

2022

At 1 March 2021
£

Advances to director
£

Repayments by director
£

At 28 February 2022
£

Mr C Hobbs

Loan at 2% interest per annum

32,391

62,434

(42,000)

52,825