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REGISTERED NUMBER: 02103753 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Hecticlook Limited

Hecticlook Limited (Registered number: 02103753)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hecticlook Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N Wise
Mrs D M Wise





SECRETARY: Mrs D M Wise





REGISTERED OFFICE: Eldo House
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 02103753 (England and Wales)





ACCOUNTANTS: Knights Lowe Chartered Accountants
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Hecticlook Limited (Registered number: 02103753)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 57,550 38,879
Investment property 5 1,725,121 1,725,121
1,782,671 1,764,000

CURRENT ASSETS
Debtors 6 5,000 4,953
Cash at bank 33,579 63,089
38,579 68,042
CREDITORS
Amounts falling due within one year 7 296,039 308,980
NET CURRENT LIABILITIES (257,460 ) (240,938 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,525,211 1,523,062

CREDITORS
Amounts falling due after more than one
year

8

(8,500

)

(14,500

)

PROVISIONS FOR LIABILITIES 10 (10,688 ) (7,141 )
NET ASSETS 1,506,023 1,501,421

CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 424,172 424,172
Retained earnings 1,081,751 1,077,149
SHAREHOLDERS' FUNDS 1,506,023 1,501,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Hecticlook Limited (Registered number: 02103753)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 April 2024 and were signed on its behalf by:





Mrs D M Wise - Director


Hecticlook Limited (Registered number: 02103753)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Hecticlook Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The company has net current liabilities and is, therefore, dependent on the financial support of the directors in the short term. Such support will be available for the foreseeable future until at least 12 months from the date of the directors report. That being the case, the directors' consider it appropriate to prepare the accounts on the going concern basis.

Significant judgements and estimates
In the application of the Company's accounting policies, which are described below, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimated and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimate is revised if revision affects only that and future periods.

The following are critical judgements including those involving estimations, that the directors have made in the process of applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Revaluation of investment properties
The Company carries investment properties at fair value, with changes in fair value being recognised in the profit or loss. The Directors have determined fair values on a property by property basis at open market value based on assumptions on expected yield given the location and nature of the property comparable to other known sales or potential sales in the region. Where considered appropriate, the directors seek formal or informal valuations by land and estate agents.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Other Creditors due within one year.

Hecticlook Limited (Registered number: 02103753)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
The directors estimate residual values on an asset by asset basis and apply depreciation accordingly.

During the year a full review has been made of estimated residual values of non-investment freehold property and the directors consider that such values for all properties are likely to be at, or above, book value. Accordingly, no depreciation has been charged during the year on freehold property. The position will be reviewed annually.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Plant & Machinery - 25% on reducing balance
Motor Vehicles - 25% on reducing balance

Investment property
Investment property is shown at fair value with the basis of review being the Directors estimate. Any aggregate surplus of deficit arising from changes in fair value are recognised in the profit or loss and transferred to an non-distributable reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hecticlook Limited (Registered number: 02103753)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

Impairment policy
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Hecticlook Limited (Registered number: 02103753)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 72,024
Additions 61,732
Disposals (61,218 )
At 31 December 2023 72,538
DEPRECIATION
At 1 January 2023 33,145
Charge for year 10,608
Eliminated on disposal (28,765 )
At 31 December 2023 14,988
NET BOOK VALUE
At 31 December 2023 57,550
At 31 December 2022 38,879

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 12,750
Disposals (12,750 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 12,121
Eliminated on disposal (12,121 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 629

Hecticlook Limited (Registered number: 02103753)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,725,121
NET BOOK VALUE
At 31 December 2023 1,725,121
At 31 December 2022 1,725,121

The investment property was valued on a fair value basis at £1,725,121 (2022 - £1,725,121)

If the property had not been revalued it would have been included at its historical cost of £1,279,479 (2022: £1,279,479).

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 642
Other debtors 5,000 4,311
5,000 4,953

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,000 6,000
Trade creditors 1,775 1,152
Taxation and social security 4,751 7,757
Other creditors 283,513 294,071
296,039 308,980

Within other creditors there is an outstanding directors loan.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 8,500 14,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 14,500 20,500

The bank loan is secured by a fixed charge over the assets of the company.

Hecticlook Limited (Registered number: 02103753)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Timing differences 10,934 7,387
Fair value investment property 28,250 28,250
Capital losses c/fwd (28,496 ) (28,496 )
10,688 7,141

Deferred
tax
£   
Balance at 1 January 2023 7,141
Movement in the year 3,547
Balance at 31 December 2023 10,688

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 424,172