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Registration number: 06932479

Office HQ Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Office HQ Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Office HQ Limited

Company Information

Directors

R J Douglas

S Gent

Registered office

Chadwick House
6 Hallam Road
Clevedon
North Somerset
BS21 7SF

Accountants

Herbert Lewis Williams & Associates Limited
Chartered Certified Accountants
Leigh Court Business Centre
Abbots Leigh
Bristol
BS8 3RA

 

Office HQ Limited

(Registration number: 06932479)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

31 December
2022
£

Fixed assets

 

Intangible assets

4

4,548

9,756

Tangible assets

5

896

-

 

5,444

9,756

Current assets

 

Debtors

6

49,892

47,508

Cash at bank and in hand

 

18,282

34,024

 

68,174

81,532

Creditors: Amounts falling due within one year

7

(35,336)

(80,552)

Net current assets

 

32,838

980

Total assets less current liabilities

 

38,282

10,736

Provisions for liabilities

(1,034)

(3,326)

Net assets

 

37,248

7,410

Capital and reserves

 

Called up share capital

8

105

105

Share premium reserve

149,892

149,892

Capital redemption reserve

63

63

Retained earnings

(112,812)

(142,650)

Shareholders' funds

 

37,248

7,410

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 15 April 2024 and signed on its behalf by:
 

 

Office HQ Limited

(Registration number: 06932479)
Balance Sheet as at 31 December 2023

.........................................
R J Douglas
Director

 

Office HQ Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Chadwick House
6 Hallam Road
Clevedon
North Somerset
BS21 7SF
England and Wales

These financial statements were authorised for issue by the Board on 15 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Office HQ Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development

25% straight line basis

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Office HQ Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Office HQ Limited

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

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

21,000

21,000

At 31 December 2023

21,000

21,000

Amortisation

At 1 January 2023

11,244

11,244

Amortisation charge

5,208

5,208

At 31 December 2023

16,452

16,452

Carrying amount

At 31 December 2023

4,548

4,548

At 31 December 2022

9,756

9,756

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,083

1,083

At 31 December 2023

1,083

1,083

Depreciation

Charge for the year

187

187

At 31 December 2023

187

187

Carrying amount

At 31 December 2023

896

896

 

Office HQ Limited

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

6

Debtors

Current

Year ended
31 December
2023
£

Period ended
31 December
2022
£

Trade debtors

49,405

44,581

Prepayments

487

462

Other debtors

-

2,465

 

49,892

47,508

 

Office HQ Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

Year ended
31 December
2023
£

Period ended
31 December
2022
£

Due within one year

 

Trade creditors

 

8,659

11,744

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,841

50,928

Taxation and social security

 

23,666

16,061

Accruals and deferred income

 

876

1,600

Other creditors

 

294

219

 

35,336

80,552

8

Share capital

Allotted, called up and fully paid shares

 

31 December
2023

31 December
2022

 

No.

£

No.

£

Ordinary shares of £0.10 each

1,050

105

1,050

105

Ordinary A shares of £0 each

-

-

-

-

 

1,050

105

1,050

105

9

Parent and ultimate parent undertaking

The company's immediate parent is Chadwick Holdings Limited, incorporated in England and Wales.