Registered number
08912657
Hawkins Financial Limited
Unaudited Filleted Accounts
31 March 2023
Hawkins Financial Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Hawkins Financial Limited
Company Information
Directors
Mr S Hawkins
Mrs A Hawkins
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Registered office
5 Brendon Road
Fareham
Hampshire
PO14 1SB
Registered number
08912657
Hawkins Financial Limited
Registered number: 08912657
Directors' Report
The directors present their report and accounts for the year ended 31 March 2023.
Principal activities
The company's principal activity during the year continued to be that of providing financial advice.
Directors
The following persons served as directors during the year:
Mr S Hawkins
Mrs A Hawkins
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 29 February 2024 and signed on its behalf.
Mr S Hawkins
Director
Hawkins Financial Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Hawkins Financial Limited for the year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hawkins Financial Limited for the year ended 31 March 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
7 March 2024
Hawkins Financial Limited
Registered number: 08912657
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
As restated
Fixed assets
Tangible assets 3 1,438 1,798
Current assets
Debtors 4 90 90
Cash at bank and in hand 3,524 7,626
3,614 7,716
Creditors: amounts falling due within one year 5 (59,338) (36,827)
Net current liabilities (55,724) (29,111)
Total assets less current liabilities (54,286) (27,313)
Creditors: amounts falling due after more than one year 6 (30,044) (38,618)
Provisions for liabilities (345) (342)
Net liabilities (84,675) (66,273)
Capital and reserves
Called up share capital 100 100
Profit and loss account (84,775) (66,373)
Shareholders' funds (84,675) (66,273)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Mr S Hawkins
Director
Approved by the board on 29 February 2024
Hawkins Financial 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. Turnover includes revenue earned from the rendering of services. 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.
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:
Fixtures, fittings, tools and equipment 20% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 4,644
At 31 March 2023 4,644
Depreciation
At 1 April 2022 2,846
Charge for the year 360
At 31 March 2023 3,206
Net book value
At 31 March 2023 1,438
At 31 March 2022 1,798
4 Debtors 2023 2022
£ £
Other debtors 90 90
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,147 -
Taxation and social security costs 54,166 30,795
Other creditors 1,025 6,032
59,338 36,827
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 30,044 38,618
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 13,110 -
8 Prior year adjustment
A prior year adjustment has been included to reflect the amount of Bounce Back loan received July 2020.
9 Other information
Hawkins Financial Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Brendon Road
Fareham
Hampshire
PO14 1SB
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