Company registration number 07670041 (England and Wales)
P.W. HEWITT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
P.W. HEWITT LIMITED
COMPANY INFORMATION
Director
Mr P W Hewitt
Company number
07670041
Registered office
Suite 2, Albion House
2 Etruria Office Village
Forge Lane, Etruria
Stoke on Trent
Staffordshire
ST1 5RQ
Accountants
Dains Accountants Limited
Suite 2, Albion House
2 Etruria Office Village
Forge Lane
Stoke on Trent
Staffordshire
ST1 5RQ
P.W. HEWITT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
P.W. HEWITT LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
198
248
Investment property
4
236,830
236,830
237,028
237,078
Current assets
Stocks
-
952
Debtors
5
3,421
534
Cash at bank and in hand
16,642
26,259
20,063
27,745
Creditors: amounts falling due within one year
Taxation and social security
2,089
4,080
Other creditors
6
26,464
20,148
28,553
24,228
Net current (liabilities)/assets
(8,490)
3,517
Total assets less current liabilities
228,538
240,595
Provisions for liabilities
(38)
(47)
Net assets
228,500
240,548
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
228,498
240,546
Total equity
228,500
240,548

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

P.W. HEWITT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 7 March 2024
Mr P W Hewitt
Director
Company registration number 07670041 (England and Wales)
P.W. HEWITT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

P.W. Hewitt Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 2, Albion House, 2 Etruria Office Village, Forge Lane, Etruria, Stoke on Trent, Staffordshire, ST1 5RQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on reducing balance
Computers
33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

P.W. HEWITT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 July 2022 and 30 June 2023
707
2,197
2,904
Depreciation and impairment
At 1 July 2022
459
2,197
2,656
Depreciation charged in the year
50
-
0
50
At 30 June 2023
509
2,197
2,706
Carrying amount
At 30 June 2023
198
-
0
198
At 30 June 2022
248
-
0
248
P.W. HEWITT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2023
- 5 -
4
Investment property
2023
£
Fair value
At 1 July 2022 and 30 June 2023
236,830

As at 30 June 2023, the Investment property is stated at fair value, which the directors believes to be good indication of the current value.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
3,421
534
6
Other creditors falling due within one year
2023
2022
£
£
Other creditors
25,151
18,886
Accruals and deferred income
1,313
1,262
26,464
20,148
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