Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-31true112022-09-01falseNo description of principal activityfalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC606008 2022-09-01 2023-08-31 SC606008 2021-09-01 2022-08-31 SC606008 2023-08-31 SC606008 2022-08-31 SC606008 c:Director1 2022-09-01 2023-08-31 SC606008 c:RegisteredOffice 2022-09-01 2023-08-31 SC606008 d:MotorVehicles 2022-09-01 2023-08-31 SC606008 d:MotorVehicles 2023-08-31 SC606008 d:MotorVehicles 2022-08-31 SC606008 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 SC606008 d:CurrentFinancialInstruments 2023-08-31 SC606008 d:CurrentFinancialInstruments 2022-08-31 SC606008 d:Non-currentFinancialInstruments 2023-08-31 SC606008 d:Non-currentFinancialInstruments 2022-08-31 SC606008 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 SC606008 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 SC606008 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 SC606008 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 SC606008 d:ShareCapital 2023-08-31 SC606008 d:ShareCapital 2022-08-31 SC606008 d:RetainedEarningsAccumulatedLosses 2023-08-31 SC606008 d:RetainedEarningsAccumulatedLosses 2022-08-31 SC606008 c:OrdinaryShareClass1 2022-09-01 2023-08-31 SC606008 c:OrdinaryShareClass1 2023-08-31 SC606008 c:OrdinaryShareClass1 2022-08-31 SC606008 c:FRS102 2022-09-01 2023-08-31 SC606008 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 SC606008 c:FullAccounts 2022-09-01 2023-08-31 SC606008 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC606008










HIP MANAGEMENT LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

 
HIP MANAGEMENT LTD
 

COMPANY INFORMATION


Director
C A Holmes 




Registered number
SC606008



Registered office
27 Fleming Drive
Kirkcaldy

KY2 6SL




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
HIP MANAGEMENT LTD
REGISTERED NUMBER: SC606008

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
31,498
-

  
31,498
-

Current assets
  

Debtors: amounts falling due within one year
 5 
3,997
4,969

Cash at bank and in hand
  
808
4,631

  
4,805
9,600

Creditors: amounts falling due within one year
  
(9,095)
(7,501)

Net current (liabilities)/assets
  
 
 
(4,290)
 
 
2,099

Total assets less current liabilities
  
27,208
2,099

Creditors: amounts falling due after more than one year
 6 
(26,993)
-

  

Net assets
  
215
2,099


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
213
2,097

  
215
2,099


Page 1

 
HIP MANAGEMENT LTD
REGISTERED NUMBER: SC606008

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C A Holmes
Director

Date: 28 February 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
HIP MANAGEMENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

HIP Management Ltd is a private company, limited by shares, incorporated in Scotland with registration number SC606008. The registered office is 27 Fleming Drive, Kirkcaldy, KY2 6SL.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
HIP MANAGEMENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current 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 income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
12.5%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
HIP MANAGEMENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


Additions
35,574



At 31 August 2023

35,574



Depreciation


Charge for the year on owned assets
4,076



At 31 August 2023

4,076



Net book value



At 31 August 2023
31,498



At 31 August 2022
-

Page 5

 
HIP MANAGEMENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Other debtors
3,997
4,969

3,997
4,969



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
26,993
-


Obligations under finance leases and hire purchase contracts are secured against the relevant assets.


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



8.


Related party transactions

Included within other debtors is an amount of £3,969 (2022 - £4,969) due from HIP Rentals Ltd, a company in which the director is also a director and shareholder. No interest or repayment terms have been agreed.


Page 6