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Registered number: 08294093
Hrg Tree Surgeons Limited
Unaudited Financial Statements
For The Year Ended 31 May 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08294093
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 116,839 292,826
Tangible Assets 5 148,087 165,197
264,926 458,023
CURRENT ASSETS
Stocks 6 29,397 29,397
Debtors 7 156,086 119,826
Cash at bank and in hand 53,274 4,502
238,757 153,725
Creditors: Amounts Falling Due Within One Year 8 (252,412 ) (213,085 )
NET CURRENT ASSETS (LIABILITIES) (13,655 ) (59,360 )
TOTAL ASSETS LESS CURRENT LIABILITIES 251,271 398,663
Creditors: Amounts Falling Due After More Than One Year 9 (141,487 ) (189,487 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,884 ) (25,028 )
NET ASSETS 93,900 184,148
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 93,899 184,147
SHAREHOLDERS' FUNDS 93,900 184,148
Page 1
Page 2
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Sarah Ghijben
Director
16/04/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hrg Tree Surgeons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08294093 . The registered office is Mountbatten House, Grosvenor Square, Southampton, SO15 2JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Rendering of services
Turnover from the rendering of services for Tree Surgery and maintenance is recognised by reference to the stage of completion of the contract.Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are Intellectual property Agreements. It is amortised to the profit and loss account over its estimated economic life of ten years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 33% straight line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
2.7. Stocks and Work in Progress
Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Financial Instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Bank overdrafts are shown within borrowings or current liabilities.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments
are valued at the amount prepaid net of any trade discounts due.
Creditors
Trade and other creditors are recognised at the settlement amount due after any trade discount offered. Accruals are
valued at the amount due in the future net of any trade discounts.
Interest-bearing borrowings
Interest-bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in theprofit and loss account over the period of the borrowings, together with any interest and fees payable, using the effective interest method.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Goodwill Intellectual Property Total
£ £ £
Cost
As at 1 June 2022 24,481 425,804 450,285
Additions - 51,343 51,343
Disposals - (257,509 ) (257,509 )
As at 31 May 2023 24,481 219,638 244,119
...CONTINUED
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Amortisation
As at 1 June 2022 4,896 152,563 157,459
Provided during the period 4,896 45,325 50,221
Disposals - (80,400 ) (80,400 )
As at 31 May 2023 9,792 117,488 127,280
Net Book Value
As at 31 May 2023 14,689 102,150 116,839
As at 1 June 2022 19,585 273,241 292,826
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2022 124,904 144,475 172 5,009 274,560
Additions - 64,000 - 490 64,490
Disposals (904 ) - (172 ) (371 ) (1,447 )
As at 31 May 2023 124,000 208,475 - 5,128 337,603
Depreciation
As at 1 June 2022 54,043 52,447 43 2,830 109,363
Provided during the period 31,226 48,452 43 1,553 81,274
Disposals (788 ) - (86 ) (247 ) (1,121 )
As at 31 May 2023 84,481 100,899 - 4,136 189,516
Net Book Value
As at 31 May 2023 39,519 107,576 - 992 148,087
As at 1 June 2022 70,861 92,028 129 2,179 165,197
6. Stocks
2023 2022
£ £
Work in progress 29,397 29,397
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 90,476 85,848
Prepayments and accrued income 3,513 1,055
Other debtors CIS Suffered 32,193 17,519
Amounts owed by related parties 29,904 15,404
156,086 119,826
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8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 43,933 39,275
Trade creditors 51,794 63,713
Bank loans and overdrafts 10,781 5,470
Other loans 20,000 20,000
Corporation tax 45,152 14,539
VAT 54,055 28,675
Other creditors 2,332 -
Accruals and deferred income - 177
Director's loan account 24,365 41,236
252,412 213,085
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 63,622 57,336
Bank loans 25,959 35,824
Other non-current financial liabilities 51,906 96,327
141,487 189,487
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 43,831 43,831
Later than one year and not later than five years 63,053 106,884
106,884 150,715
The operating leases are for plant and machinery equipment used in the business.
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