Company Registration No. 09484966 (England and Wales)
HOGERTY HILL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
HOGERTY HILL LIMITED
COMPANY INFORMATION
Director
Mr M C Young
(Appointed 6 April 2023)
Miss Monisha Shah
( Resigned 6 April 2023)
Company number
09484966
Registered office
Hogerty Hill
Lunghurst Road
Woldingham
Caterham
Surrey
CR3 7HE
Accountants
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
HOGERTY HILL LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
HOGERTY HILL LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HOGERTY HILL LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
The following reproduces text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited financial statements set out on pages 2 to 6 have been extracted.
"In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hogerty Hill Limited for the year ended 31 March 2024 set out on pages 3 to 8 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html.
Our work has been undertaken solely to prepare for your approval the financial statements of Hogerty Hill Limited and state those matters that we have agreed to state to the Board of Directors of Hogerty Hill Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hogerty Hill Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Hogerty Hill Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hogerty Hill Limited. You consider that Hogerty Hill Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hogerty Hill Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
John Cumming Ross Limited
Chartered Certified Accountants
1st Floor, Kirkland House
11-15 Peterborough Road
Harrow
Middlesex
HA1 2AX
"
30 August 2024
HOGERTY HILL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4
4
Current assets
Debtors
4
29,516
14,770
Cash at bank and in hand
1,338
33,443
30,854
48,213
Creditors: amounts falling due within one year
5
(14,599)
(29,215)
Net current assets
16,255
18,998
Total assets less current liabilities
16,259
19,002
Creditors: amounts falling due after more than one year
6
(5,002)
(9,783)
Provisions for liabilities
(1)
(1)
Net assets
11,256
9,218
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
11,156
9,118
Total equity
11,256
9,218
The director of the company has taken advantage under section 444 of the Companies Act 2006 not to deliver the copy of profit and loss account and director's report 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 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 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 30 August 2024 and are signed on its behalf by:
Mr M C Young
Director
Company Registration No. 09484966
HOGERTY HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Hogerty Hill Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hogerty Hill, Lunghurst Road, Woldingham, Caterham, Surrey, CR3 7HE.
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.
1.2
Going concern
The principal activity of the company is that of providing television and media consultancy. At the time of approving the financial statements, the production of the projects for Hogerty Hill is as normal. With this in mind, the director has a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. Hence, the company has chosen to continue to adopt going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover represents television and media consultancy services provided in the course of the ordinary business.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly rates, expenses and materials, as a proportion of total costs.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
50% On a straight line basis
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.
1.5
Financial instruments
The company only enters into basic financial instruments 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,
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment, is found, an impairment loss is recognised in profit and loss.
Financial assets and liabilities are offset and the net net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle the liability simultaneously.
HOGERTY HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transactions, where the debt instruments is measured at the present value of the future payments discounted at market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment
1.6
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 tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of employees (including director) employed by the company during the year was 2 (2023 - 2).
2024
2023
Number
Number
Total
2
2
HOGERTY HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
4,395
Depreciation and impairment
At 1 April 2023 and 31 March 2024
4,391
Carrying amount
At 31 March 2024
4
At 31 March 2023
4
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
29,516
12,049
Corporation tax recoverable
2,721
29,516
14,770
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,526
3,975
Corporation tax
3,049
3,999
Other taxation and social security
4,494
13,721
Other creditors
2,530
7,520
14,599
29,215
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,002
9,783
Bounce back loan of £9,528 (2023: £13,758) is backed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy.
HOGERTY HILL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
1
1
There were no deferred tax movements in the year.
8
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
Ordinary share of £1 each
100
100
9
Related party transactions
During the year dividend paid to the director was £5000 (2023:£2500).