Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-2962023-03-01false5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01273152 2023-03-01 2024-02-29 01273152 2022-03-01 2023-02-28 01273152 2024-02-29 01273152 2023-02-28 01273152 c:Director1 2023-03-01 2024-02-29 01273152 d:PlantMachinery 2023-03-01 2024-02-29 01273152 d:MotorVehicles 2023-03-01 2024-02-29 01273152 d:OtherPropertyPlantEquipment 2024-02-29 01273152 d:OtherPropertyPlantEquipment 2023-02-28 01273152 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 01273152 d:CurrentFinancialInstruments 2024-02-29 01273152 d:CurrentFinancialInstruments 2023-02-28 01273152 d:Non-currentFinancialInstruments 2024-02-29 01273152 d:Non-currentFinancialInstruments 2023-02-28 01273152 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 01273152 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 01273152 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 01273152 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 01273152 d:ShareCapital 2024-02-29 01273152 d:ShareCapital 2023-02-28 01273152 d:RetainedEarningsAccumulatedLosses 2024-02-29 01273152 d:RetainedEarningsAccumulatedLosses 2023-02-28 01273152 c:OrdinaryShareClass1 2023-03-01 2024-02-29 01273152 c:OrdinaryShareClass1 2024-02-29 01273152 c:FRS102 2023-03-01 2024-02-29 01273152 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 01273152 c:FullAccounts 2023-03-01 2024-02-29 01273152 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 01273152 2 2023-03-01 2024-02-29 01273152 e:PoundSterling 2023-03-01 2024-02-29 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 01273152









HYLANDS D.I.Y. LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
HYLANDS D.I.Y. LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1
Notes to the Financial Statements
 
 
2 - 7


 
HYLANDS D.I.Y. LIMITED
REGISTERED NUMBER: 01273152

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,539
2,991

Current assets
  

Debtors: amounts falling due within one year
 5 
1,640,276
1,589,691

Cash at bank and in hand
  
8,929
21,444

  
1,649,205
1,611,135

Creditors: amounts falling due within one year
 6 
(163,624)
(154,473)

Net current assets
  
 
 
1,485,581
 
 
1,456,662

Total assets less current liabilities
  
1,488,120
1,459,653

Creditors: amounts falling due after more than one year
 7 
(13,333)
(23,333)

  

Net assets
  
1,474,787
1,436,320


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Profit and loss account
  
1,464,787
1,426,320

  
1,474,787
1,436,320


The director considers 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 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 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: 



R M Penny
Director
Date: 2 September 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
HYLANDS D.I.Y. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Hylands D.I.Y. Limited is a private company, limited by shares, and incorporated in England and Wales.  The address of its registered office is 3rd Floor, 24 Old Bond Street, London, W1S 4BH.
The financial statements are presented in sterling which is the functional currency of the company.

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

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.

 
2.3

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 2

 
HYLANDS D.I.Y. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.3
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:

Plant and machinery
-
15% reducing balance
Furniture, fittings and equipment
-
15% 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.

 
2.4

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. 

 
2.5

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Page 3

 
HYLANDS D.I.Y. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.6

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.

 
2.7

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

Interest income

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

 
2.9

Taxation

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 corporation 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.

Page 4

 
HYLANDS D.I.Y. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 5).


4.


Tangible fixed assets







Other fixed assets

£



Cost 


At 1 March 2023
29,363



At 29 February 2024

29,363



Depreciation


At 1 March 2023
26,372


Charge for the year on owned assets
452



At 29 February 2024

26,824



Net book value



At 29 February 2024
2,539



At 28 February 2023
2,991

Page 5

 
HYLANDS D.I.Y. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
40,414
936

Other debtors
1,597,431
1,585,914

Prepayments and accrued income
2,431
2,841

1,640,276
1,589,691



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
22,981
10,461

Corporation tax
11,854
5,583

Other taxation and social security
15,793
28,694

Other creditors
97,096
93,496

Accruals and deferred income
5,900
6,239

163,624
154,473



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
13,333
23,333



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 Ordinary shares of £1 each
10,000
10,000


Page 6

 
HYLANDS D.I.Y. LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


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 £5,109 (2023 - £5,060). At the year end there were outstanding contributions totalling £1,135 contributions (2023 - £1,135).


10.


Related party transactions

At the balance sheet date the following amount was owed to the related party stated:


2024
2023
£
£

Director
95,886
92,286


Page 7