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Registered number: 13623079














HODLON LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HODLON LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
HODLON LIMITED
REGISTERED NUMBER:13623079

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
95,115
38,869

  
95,115
38,869

Current assets
  

Debtors: amounts falling due after more than one year
 5 
35,700
-

Debtors: amounts falling due within one year
 5 
756,110
465,973

Cash at bank and in hand
 6 
133,103
142,362

  
924,913
608,335

Creditors: amounts falling due within one year
 7 
(426,983)
(290,873)

Net current assets
  
 
 
497,930
 
 
317,462

Total assets less current liabilities
  
593,045
356,331

Provisions for liabilities
  

Deferred tax
 8 
(20,239)
(5,401)

  
 
 
(20,239)
 
 
(5,401)

Net assets
  
572,806
350,930


Capital and reserves
  

Called up share capital 
 9 
1,000
1,000

Profit and loss account
  
571,806
349,930

  
572,806
350,930


1

 
HODLON LIMITED
REGISTERED NUMBER:13623079
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 profit and loss account 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 on 29 July 2024.




P M A Salle
Director

The notes on pages 3 to 8 form part of these financial statements.

2

 
HODLON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Hodlon Limited is a private company, limited by shares, registered in England and Wales, registration number 13623079.
The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The principal place of business is 9 Netherton Grove, London, SW10 9TQ.

The principal activity of the company is that of providing consultancy services.
 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Turnover

Turnover comprises of revenue recognised by the company in respect of providing consultancy services during the period and 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. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

3

 
HODLON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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 Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Current and deferred 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 corporate tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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.

4

 
HODLON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on reducing balance basis and straight line basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance method
Computer equipment
-
33%
straight line method

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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.10

 Creditors

Short-term creditors are measured at the transaction price.

 
2.11

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

5

 
HODLON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost


At 1 January 2023
39,438
1,547
40,985


Additions
64,039
-
64,039



At 31 December 2023

103,477
1,547
105,024



Depreciation


At 1 January 2023
1,643
473
2,116


Charge for the year on owned assets
7,277
516
7,793



At 31 December 2023

8,920
989
9,909



Net book value



At 31 December 2023
94,557
558
95,115


5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
35,700
-


The other debtor due more than one year is in respect of a rent deposit. 

As restated
2023
2022
£
£

Due within one year

Amounts owed by group undertakings
-
8,660

Amounts owed by associated undertakings
-
127,704

Other debtors
756,003
284,505

Prepayments
107
45,104

756,110
465,973


6

 
HODLON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
133,103
142,362



7.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
19,985
-

Amounts owed to group undertakings
61,702
115,408

Corporation tax
289,906
108,430

Other taxation and social security
50,921
61,303

Other creditors
69
-

Accruals
4,400
5,732

426,983
290,873



8.


Deferred taxation



2023


£






At beginning of year
5,401


Charged to profit or loss
14,838



At end of year
20,239

The provision for deferred taxation is made up as follows:

2023
£


Accelerated capital allowances
20,239

20,239

7

 
HODLON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



10.


Prior year adjustment

In preparing these accounts, it was noted that the overdrawn directors loan account for year ended 31 December 2022 had not been repaid within 9 months of the year end and therefore triggered an S455 charge liability of £71,791 due by the company. The adjustment made, increased prior year debtors due within one year by £71,791 and increased prior year creditors due within one year by the same amount. There was no impact on the profit and loss reserve.


11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company  to the fund and amounted to £764 (2022 - £947). No contributions were payable to the fund at the balance sheet date


12.


Commitments under operating leases

At 31 December 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
309,400
360,000

Later than 1 year and not later than 5 years
309,400
360,000

Later than 5 years
206,267
-

825,067
720,000


13.


Related party transactions

Included within other debtors is a loan to the director, amounting to £557,692 (2022 - £212,714). Interest totalling £7,598 (2022 - £2,520) was charged on the loan to the director at the official interest rate for the year.

During the year, management service fees totalling £968,940 (2022 - £1,049,685) were charged to EMERIA RES UK Limited, a company in which Phillipe Salle and Hodlon Limited are directors.
During the year an amount of £126,418 due from a company under common control was written off in full. Included in other debtors due within 1 year was an amount due from that company of £nil (2022 - £127,704). 
 
8