Company Registration No. 04130990 (England and Wales)
HATCH MEWS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HATCH MEWS LIMITED
COMPANY INFORMATION
Directors
Mr A D Kingston
Mrs E J Kingston
Secretary
Mr A D Kingston
Company number
04130990
Registered office
Unit 11
Lopen Business Park
Lopen
South Petherton
Somerset
TA13 5JS
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
Business address
Hatch Mews Business Park
Hatch Beauchamp
Taunton
Somerset
TA3 6SE
HATCH MEWS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
HATCH MEWS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
278
371
Investment properties
4
1,100,000
1,100,000
1,100,278
1,100,371
Current assets
Debtors
5
231,387
60,037
Cash at bank and in hand
43,038
169,353
274,425
229,390
Creditors: amounts falling due within one year
6
(45,866)
(42,172)
Net current assets
228,559
187,218
Total assets less current liabilities
1,328,837
1,287,589
Creditors: amounts falling due after more than one year
7
(71,746)
(79,452)
Provisions for liabilities
(76,221)
(76,221)
Net assets
1,180,870
1,131,916
Capital and reserves
Called up share capital
8
2
2
Non distributable reserves
9
320,933
320,933
Profit and loss reserves
859,935
810,981
Total equity
1,180,870
1,131,916
HATCH MEWS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Act 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.
The financial statements were approved by the board of directors and authorised for issue on 16 July 2024 and are signed on its behalf by:
Mr A D Kingston
Director
Company Registration No. 04130990
HATCH MEWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Hatch Mews Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
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.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover represents the total value of rent receivable for the year, excluding value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Reducing balance
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. The surplus or deficit on revaluation is recognised in the profit and loss account.
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.
1.6
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
HATCH MEWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2023 - 0).
3
Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2023 and 31 March 2024
13,110
Depreciation and impairment
At 1 April 2023
12,739
Depreciation charged in the year
93
At 31 March 2024
12,832
Carrying amount
At 31 March 2024
278
At 31 March 2023
371
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
1,100,000
HATCH MEWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,624
5,242
Other debtors
226,708
41,942
Prepayments and accrued income
55
12,853
231,387
60,037
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,000
7,000
Trade creditors
967
6,465
Corporation tax
16,349
7,583
Other taxation and social security
3,459
3,685
Other creditors
14,506
14,594
Accruals and deferred income
3,585
2,845
45,866
42,172
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
71,746
79,452
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
9
Revaluation reserve
2024
2023
£
£
At beginning and end of year
320,933
320,933