STEPHEN HATTON LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
31 MARCH 2024 | |||||||||||
Company Registration Number: 06509731 | |||||||||||
STEPHEN HATTON LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 to 3 | ||||||||||
Notes to the financial statements | 4 to 8 | ||||||||||
STEPHEN HATTON LIMITED | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | |||||||||||
DIRECTOR | |||||||||||
SECRETARY | |||||||||||
REGISTERED OFFICE | |||||||||||
COMPANY REGISTRATION NUMBER | |||||||||||
06509731 England and Wales | |||||||||||
STEPHEN HATTON LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 MARCH 2024 | |||||||||||
Notes | 2024 | 2023 | |||||||||
£ | £ | ||||||||||
FIXED ASSETS | |||||||||||
Tangible assets | 6 | - | |||||||||
CURRENT ASSETS | |||||||||||
Debtors | 7 | ||||||||||
Cash at bank and in hand | |||||||||||
CREDITORS: Amounts falling due within one year | 8 | ||||||||||
NET CURRENT ASSETS | |||||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | |||||||||||
CREDITORS: Amounts falling due after more than one year | 9 | ||||||||||
Provisions for liabilities and charges | - | ||||||||||
NET ASSETS | |||||||||||
CAPITAL AND RESERVES | |||||||||||
Called up share capital | |||||||||||
Distributable profit and loss account | |||||||||||
SHAREHOLDER'S FUNDS | |||||||||||
STEPHEN HATTON LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 MARCH 2024 | |||||||||||
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board | |||||||||||
S Hatton | |||||||||||
Director | |||||||||||
Date approved by the board: |
|||||||||||
STEPHEN HATTON LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
Stephen Hatton Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
4 Witan Way | |||||||||||
Witney | |||||||||||
Oxon | |||||||||||
OX28 6FF | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
Revenue recognition | |||||||||||
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of insulation engineering services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax. | |||||||||||
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. |
Intangible fixed assets | |||||||||||
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. |
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be (10) years. | |||||||||||
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations. |
STEPHEN HATTON LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Tangible fixed assets | |||||||||||
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses. | |||||||||||
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives. | |||||||||||
Computer equipment | |||||||||||
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses. | |||||||||||
Financial Instruments | |||||||||||
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
Impairment of non-financial assets | |||||||||||
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. |
STEPHEN HATTON LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Debtors | |||||||||||
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
Loans receivable are measured initially at fair value, net of transaction costs, and subsequently at amortised cost, less any impairment. |
Creditors | |||||||||||
Taxation | |||||||||||
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits. | |||||||||||
Deferred tax is measured using 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. | |||||||||||
3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including directors) during the year was: | |||||||||||
2024 | 2023 | ||||||||||
Average number of employees | |||||||||||
STEPHEN HATTON LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | |||||||||||
5 | INTANGIBLE FIXED ASSETS | ||||||||||
Goodwill | |||||||||||
£ | |||||||||||
Cost | |||||||||||
At 1 April 2023 | |||||||||||
At 31 March 2024 | |||||||||||
Accumulated amortisation | |||||||||||
At 1 April 2023 | |||||||||||
At 31 March 2024 | |||||||||||
Net book value | |||||||||||
At 1 April 2023 | - | ||||||||||
At 31 March 2024 | - | ||||||||||
Goodwill relates to the acquisition of a business, which was purchased on 20 February 2008. The goodwill was amortised over its useful economic life, estimated to be 10 years. | |||||||||||
6 | TANGIBLE ASSETS | ||||||||||
Computer equipment | Total | ||||||||||
£ | £ | ||||||||||
Cost | |||||||||||
At 1 April 2023 | 678 | ||||||||||
At 31 March 2024 | 678 | ||||||||||
Accumulated depreciation | |||||||||||
At 1 April 2023 | 661 | ||||||||||
Charge for year | 17 | ||||||||||
At 31 March 2024 | 678 | ||||||||||
Net book value | |||||||||||
At 1 April 2023 | 17 | 17 | |||||||||
At 31 March 2024 | - | - | |||||||||
STEPHEN HATTON LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 MARCH 2024 | |||||||||||
7 | DEBTORS | ||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
Trade debtors | |||||||||||
Prepayments and accrued income | |||||||||||
Other debtors | |||||||||||
36,465 | 89,138 | ||||||||||
8 | CREDITORS: Amounts falling due within one year | ||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | |||||||||||
Trade creditors | |||||||||||
Taxation and social security | |||||||||||
Accruals and deferred income | |||||||||||
21,229 | 53,826 | ||||||||||
9 | CREDITORS: Amounts falling due after more than one year | ||||||||||
2024 | 2023 | ||||||||||
£ | £ | ||||||||||
Bank loans and overdrafts | |||||||||||
10 | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES | ||||||||||
The following director's advances, credits and guarantees took place during the year | |||||||||||
Balance at 1 April 2023 | Amounts advanced | Amounts repaid | Balance at 31 March 2024 | ||||||||
£ | £ | £ | £ | ||||||||
S Hatton | |||||||||||
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand. |