Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31trueNo description of principal activity2023-01-01false1817trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04544729 2023-01-01 2023-12-31 04544729 2022-01-01 2022-12-31 04544729 2023-12-31 04544729 2022-12-31 04544729 c:Director1 2023-01-01 2023-12-31 04544729 c:Director2 2023-01-01 2023-12-31 04544729 d:FurnitureFittings 2023-01-01 2023-12-31 04544729 d:FurnitureFittings 2023-12-31 04544729 d:FurnitureFittings 2022-12-31 04544729 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04544729 d:ComputerEquipment 2023-01-01 2023-12-31 04544729 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04544729 d:OtherPropertyPlantEquipment 2023-12-31 04544729 d:OtherPropertyPlantEquipment 2022-12-31 04544729 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04544729 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04544729 d:Goodwill 2023-12-31 04544729 d:Goodwill 2022-12-31 04544729 d:CurrentFinancialInstruments 2023-12-31 04544729 d:CurrentFinancialInstruments 2022-12-31 04544729 d:Non-currentFinancialInstruments 2023-12-31 04544729 d:Non-currentFinancialInstruments 2022-12-31 04544729 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04544729 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04544729 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04544729 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04544729 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04544729 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04544729 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 04544729 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04544729 d:ShareCapital 2023-12-31 04544729 d:ShareCapital 2022-12-31 04544729 d:RetainedEarningsAccumulatedLosses 2023-12-31 04544729 d:RetainedEarningsAccumulatedLosses 2022-12-31 04544729 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04544729 c:OrdinaryShareClass1 2023-12-31 04544729 c:OrdinaryShareClass1 2022-12-31 04544729 c:FRS102 2023-01-01 2023-12-31 04544729 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04544729 c:FullAccounts 2023-01-01 2023-12-31 04544729 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04544729 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04544729 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04544729 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 04544729 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 04544729 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04544729










HOBSON ASSOCIATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
HOBSON ASSOCIATES LIMITED
REGISTERED NUMBER:04544729

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
71,171
83,374

  
71,171
83,374

Current assets
  

Debtors: amounts falling due within one year
 6 
12,550
7,641

Cash at bank and in hand
  
2,093
3,066

  
14,643
10,707

Creditors: amounts falling due within one year
 7 
(71,830)
(67,735)

Net current liabilities
  
 
 
(57,187)
 
 
(57,028)

Total assets less current liabilities
  
13,984
26,346

Creditors: amounts falling due after more than one year
 8 
(17,718)
(26,868)

  

Net liabilities
  
(3,734)
(522)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(3,834)
(622)

  
(3,734)
(522)


Page 1

 
HOBSON ASSOCIATES LIMITED
REGISTERED NUMBER:04544729
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider 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 directors acknowledge their 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 income statement 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 20 August 2024.




................................................
Mr K D Pugh
................................................
Mrs B Pugh
Director
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

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

1.


General information

Hobson Associates Limited is a private company limited by shares and incorporated in England and Wales, registration number 04544729. The registered office is Fox Lane, Blofield, Norwich, Norfolk, NR13 4LW.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policiess have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover 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. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover 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 turnover 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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

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

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.

 
2.5

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

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

2.Accounting policies (continued)

 
2.6

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:

Fixtures & fittings
-
6 years straight line
Computer equipment
-
4 years straight line
Other fixed assets
-
10 Years straight line

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.

  
2.7

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.


3.


Employees

2023
2022
£
£

Wages and salaries
212,630
172,617

212,630
172,617


The average monthly number of employees, including directors, during the year was 18 (2022 - 17).

Page 5

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

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
30,000



At 31 December 2023

30,000



Amortisation


At 1 January 2023
30,000



At 31 December 2023

30,000



Net book value



At 31 December 2023
-



At 31 December 2022
-



Page 6

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

5.


Tangible fixed assets





Fixtures & fittings
Leasehold Improvements
Total

£
£
£



Cost or valuation


At 1 January 2023
57,894
102,220
160,114


Additions
2,615
-
2,615



At 31 December 2023

60,509
102,220
162,729



Depreciation


At 1 January 2023
47,063
29,677
76,740


Charge for the year on owned assets
4,591
10,227
14,818



At 31 December 2023

51,654
39,904
91,558



Net book value



At 31 December 2023
8,855
62,316
71,171



At 31 December 2022
10,831
72,543
83,374


6.


Debtors

2023
2022
£
£


Trade debtors
3,223
913

Prepayments and accrued income
2,581
664

Deferred taxation
6,746
6,064

12,550
7,641


Page 7

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
26,343
27,728

Bank loans
8,734
8,734

Trade creditors
1,574
484

Other taxation and social security
2,612
903

Other creditors
28,750
25,671

Accruals and deferred income
3,817
4,215

71,830
67,735


The following liabilities were secured:




Details of security provided:

Included in Bank overdrafts are secured creditors of £26,343 (2022: £27,728) secured by way of a fixed and floating charge.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
17,718
26,868

17,718
26,868


Page 8

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

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,734
8,734


8,734
8,734

Amounts falling due 1-2 years

Bank loans
8,734
8,733


8,734
8,733

Amounts falling due 2-5 years

Bank loans
8,984
18,135


8,984
18,135


26,452
35,602


Page 9

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

10.


Deferred taxation




2023


£






At beginning of year
6,064


Charged to profit or loss
682



At end of year
6,746

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,565)
(4,784)

Tax losses carried forward
9,311
10,848

6,746
6,064


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


Page 10