Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false32truefalse2023-01-01No description of principal activity24The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02514759 2022-01-01 2022-12-31 02514759 2022-12-31 02514759 c:Director2 2023-01-01 2023-12-31 02514759 d:Buildings 2023-01-01 2023-12-31 02514759 d:Buildings 2023-12-31 02514759 d:Buildings 2022-12-31 02514759 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02514759 d:MotorVehicles 2023-01-01 2023-12-31 02514759 d:MotorVehicles 2023-12-31 02514759 d:MotorVehicles 2022-12-31 02514759 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02514759 d:FurnitureFittings 2023-01-01 2023-12-31 02514759 d:FurnitureFittings 2023-12-31 02514759 d:FurnitureFittings 2022-12-31 02514759 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02514759 d:OfficeEquipment 2023-01-01 2023-12-31 02514759 d:OfficeEquipment 2023-12-31 02514759 d:OfficeEquipment 2022-12-31 02514759 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02514759 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02514759 d:CurrentFinancialInstruments 2023-12-31 02514759 d:CurrentFinancialInstruments 2022-12-31 02514759 d:Non-currentFinancialInstruments 2023-12-31 02514759 d:Non-currentFinancialInstruments 2022-12-31 02514759 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02514759 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02514759 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02514759 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02514759 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 02514759 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 02514759 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 02514759 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 02514759 d:ShareCapital 2023-12-31 02514759 d:ShareCapital 2022-12-31 02514759 d:RetainedEarningsAccumulatedLosses 2023-12-31 02514759 d:RetainedEarningsAccumulatedLosses 2022-12-31 02514759 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 02514759 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02514759 c:FRS102 2023-01-01 2023-12-31 02514759 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02514759 c:FullAccounts 2023-01-01 2023-12-31 02514759 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02514759 2 2023-01-01 2023-12-31 02514759 2023-12-31 02514759 2023-01-01 2023-12-31 02514759 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 02514759


TIMOTHY HATTON ARCHITECTS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TIMOTHY HATTON ARCHITECTS LTD
REGISTERED NUMBER: 02514759

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,221,149
3,253,512

  
3,221,149
3,253,512

Current assets
  

Stocks
  
2,105
7,698

Debtors: amounts falling due within one year
 5 
494,570
493,245

Cash at bank and in hand
 6 
1,364,698
961,644

  
1,861,373
1,462,587

Creditors: amounts falling due within one year
 7 
(1,046,214)
(644,864)

Net current assets
  
 
 
815,159
 
 
817,723

Total assets less current liabilities
  
4,036,308
4,071,235

Creditors: amounts falling due after more than one year
  
-
(503,699)

Provisions for liabilities
  

Deferred tax
  
(11,384)
(11,384)

  
 
 
(11,384)
 
 
(11,384)

Net assets
  
4,024,924
3,556,152


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
4,024,824
3,556,052

  
4,024,924
3,556,152


Page 1

 
TIMOTHY HATTON ARCHITECTS LTD
REGISTERED NUMBER: 02514759
    
BALANCE SHEET (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 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: 




Timothy Hatton
Director

Date: 15 August 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Timothy Hatton Architects is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 GBP.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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

Page 4

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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 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.

 
2.9

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.

Page 5

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
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 a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
over a period of 50 years
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
reducing balance

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

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 are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.16

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 24 (2022 - 32).

Page 7

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
3,234,369
90,719
54,943
184,092
3,564,123


Additions
-
-
10,730
18,084
28,814



At 31 December 2023

3,234,369
90,719
65,673
202,176
3,592,937



Depreciation


At 1 January 2023
96,207
72,424
27,329
114,651
310,611


Charge for the year on owned assets
32,344
3,659
7,669
17,505
61,177



At 31 December 2023

128,551
76,083
34,998
132,156
371,788



Net book value



At 31 December 2023
3,105,818
14,636
30,675
70,020
3,221,149



At 31 December 2022
3,138,162
18,295
27,614
69,441
3,253,512


5.


Debtors

2023
2022
£
£


Trade debtors
365,513
303,444

Other debtors
55,118
111,279

Prepayments and accrued income
73,939
78,522

494,570
493,245


Page 8

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
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
1,364,698
961,644

1,364,698
961,644



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
1,662
65,460

Trade creditors
88,847
15,217

Corporation tax
200,452
361,900

Other taxation and social security
142,613
184,318

Other creditors
569,800
4,570

Accruals and deferred income
42,840
13,399

1,046,214
644,864



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
503,699

-
503,699


Page 9

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
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
1,662
65,460


1,662
65,460

Amounts falling due 1-2 years

Bank loans
-
65,460


-
65,460

Amounts falling due 2-5 years

Bank loans
-
438,239


-
438,239


1,662
569,159



10.


Deferred taxation




2023


£






At beginning of year
(11,384)



At end of year
(11,384)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(11,384)
(11,384)

(11,384)
(11,384)

Page 10

 
TIMOTHY HATTON ARCHITECTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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 £26,939 (2022 - £19.223) . Contributions totalling £4,262 (2022 - £4,571) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 11