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Registered number: 08350473
H.M. ASSESSMENT SERVICES LTD
Financial Statements
For The Year Ended 31 January 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Financial Statements
Contents
Page
Company Information 1
Statement of Financial Position 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mrs Hazel McDermid
Company Number 08350473
Registered Office 1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Accountants The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 1
Page 2
Statement of Financial Position
Registered number: 08350473
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 20,180 28,406
20,180 28,406
CURRENT ASSETS
Debtors 6 2,173 2,283
Cash at bank and in hand 7,159 11,806
9,332 14,089
Creditors: Amounts Falling Due Within One Year 7 (20,473 ) (20,957 )
NET CURRENT ASSETS (LIABILITIES) (11,141 ) (6,868 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,039 21,538
Creditors: Amounts Falling Due After More Than One Year (5,694 ) (14,596 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (3,834 ) (6,334 )
NET (LIABILITIES)/ASSETS (489 ) 608
CAPITAL AND RESERVES
Called up share capital 2 2
Income Statement (491 ) 606
SHAREHOLDERS' FUNDS (489) 608
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For the year ending 31 January 2024 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 Income Statement.
On behalf of the board
Mrs Hazel McDermid
Director
10th April 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
H.M. ASSESSMENT SERVICES LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08350473 . The registered office is 1 Tape Street, Cheadle, Stoke On Trent, Staffordshire, ST10 1BB.
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
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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% on reducing balance
Motor Vehicles 25% on reducing balance
Office improvements 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 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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2.5. 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.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
5. Tangible Assets
Plant & Machinery Motor Vehicles Office improvements Total
£ £ £ £
Cost
As at 1 February 2023 15,940 38,362 16,151 70,453
Additions 3,439 - - 3,439
As at 31 January 2024 19,379 38,362 16,151 73,892
Depreciation
As at 1 February 2023 9,985 20,844 11,218 42,047
Provided during the period 2,352 4,380 4,933 11,665
As at 31 January 2024 12,337 25,224 16,151 53,712
...CONTINUED
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Net Book Value
As at 31 January 2024 7,042 13,138 - 20,180
As at 1 February 2023 5,955 17,518 4,933 28,406
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,955 2,100
Other debtors 218 183
2,173 2,283
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,951 8,796
Trade creditors (1 ) -
Bank loans and overdrafts 3,000 3,000
Corporation tax 1,130 4,704
Other taxes and social security 144 99
VAT 2,207 2,406
Accruals and deferred income 1,815 1,215
Director's loan account 6,227 737
20,473 20,957
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 3,834 6,334
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 February 2023 6,334 6,334
Additions (2,500 ) (2,500)
Balance at 31 January 2024 3,834 3,834
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