Registered number
14254600
HOY (ŚW) Limited
Filleted Accounts
31 December 2023
HOY (ŚW) Limited
Registered number: 14254600
Balance Sheet
as at 31 December 2023
Notes 2023
£
Fixed assets
Tangible assets 3 2,624
Current assets
Debtors 4 7,630
Cash at bank and in hand 10,283
17,913
Creditors: amounts falling due within one year 5 (19,094)
Net current liabilities (1,181)
Total assets less current liabilities 1,443
Provisions for liabilities (499)
Net assets 944
Capital and reserves
Called up share capital 100
Profit and loss account 844
Shareholder's funds 944
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Laura Louise Curtis
Director
Approved by the board on 5 April 2024
HOY (ŚW) Limited
Notes to the Accounts
for the period from 25 July 2022 to 31 December 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 and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Plant and machinery 25% reducing balance
Fixtures, fittings, tools and equipment 25% 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
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 3,499
At 31 December 2023 3,499
Depreciation
Charge for the period 875
At 31 December 2023 875
Net book value
At 31 December 2023 2,624
4 Debtors 2023
£
Trade debtors 7,630
5 Creditors: amounts falling due within one year 2023
£
Taxation and social security costs 190
Other creditors 18,904
19,094
6 Related party transactions
At the period end the company owed £18,269 to Ms Laura Louise Curtis, director. The loan is interest free and repayable in less than one year.
7 Basis of preparation
At the period end the company’s balance sheet showed net current liabilities of £1,181. This includes £18,269 payable to Ms Laura Louise Curtis, director. The director has indicated that she will continue to support the company financially until such time that it can afford to repay her. On this basis, the director feels it is appropriate that the accounts are prepared on a going concern basis.
8 Controlling party
The company is ultimately controlled by Ms Laura Louise Curtis, director, who owns 100% of the issued share capital.
9 Other information
HOY (ŚW) Limited is a private company limited by shares and incorporated in England. Its registered office is:
16 Gwarak Gwel An Mor
Portscatho
Truro
Cornwall
TR2 5AF
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