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REGISTERED NUMBER: 07389105 (England and Wales)















HUGO CARTER LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






HUGO CARTER LTD (REGISTERED NUMBER: 07389105)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HUGO CARTER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: Mr J G Figura





REGISTERED OFFICE: Second Floor
34 Lime Street
London
EC3M 7AT





REGISTERED NUMBER: 07389105 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Second Floor
34 Lime Street
London
EC3M 7AT

HUGO CARTER LTD (REGISTERED NUMBER: 07389105)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 98,252 92,203

CURRENT ASSETS
Stocks 9,650 9,800
Debtors 5 394,675 464,557
Cash at bank and in hand 41,027 44,563
445,352 518,920
CREDITORS
Amounts falling due within one year 6 351,008 402,538
NET CURRENT ASSETS 94,344 116,382
TOTAL ASSETS LESS CURRENT LIABILITIES 192,596 208,585

CREDITORS
Amounts falling due after more than one year 7 (41,051 ) (50,810 )

PROVISIONS FOR LIABILITIES 10 (19,852 ) (13,680 )
NET ASSETS 131,693 144,095

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 131,593 143,995
SHAREHOLDERS' FUNDS 131,693 144,095

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 9th August 2024 and were signed by:





Mr J G Figura - Director


HUGO CARTER LTD (REGISTERED NUMBER: 07389105)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023


1. STATUTORY INFORMATION

Hugo Carter Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods and services
Turnover from the sale of goods and services is recognised at the point of sale.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 18% on reducing balance
Computer & Office Equipment - 15% Straight line on Cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stock are stated at the lower of cost, using the first in first out method, and the estimated selling price less costs to complete and sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HUGO CARTER LTD (REGISTERED NUMBER: 07389105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independent administered fund. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Computer
Motor & Office
vehicles Equipment Totals
£    £    £   
COST
At 1st January 2023 130,611 28,807 159,418
Additions 33,720 5,699 39,419
Disposals (16,500 ) - (16,500 )
At 31st December 2023 147,831 34,506 182,337
DEPRECIATION
At 1st January 2023 55,933 11,282 67,215
Charge for year 17,514 4,761 22,275
Eliminated on disposal (5,405 ) - (5,405 )
At 31st December 2023 68,042 16,043 84,085
NET BOOK VALUE
At 31st December 2023 79,789 18,463 98,252
At 31st December 2022 74,678 17,525 92,203

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 378,475 449,566
Other debtors 16,200 14,991
394,675 464,557

HUGO CARTER LTD (REGISTERED NUMBER: 07389105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,197 11,073
Hire purchase contracts (see note 8) 15,204 22,034
Trade creditors 26,766 31,113
Taxation and social security 99,771 94,791
Other creditors 199,070 243,527
351,008 402,538

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,753 24,644
Hire purchase contracts (see note 8) 26,298 26,166
41,051 50,810

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Gross obligations repayable:
Within one year 18,489 25,480
Between one and five years 28,595 28,652
47,084 54,132

Finance charges repayable:
Within one year 3,285 3,446
Between one and five years 2,297 2,486
5,582 5,932

Net obligations repayable:
Within one year 15,204 22,034
Between one and five years 26,298 26,166
41,502 48,200

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 876
Bank loans 24,950 34,841
Hire purchase contracts 41,502 48,200
66,452 83,917

Bank loan is secured by debenture, First fixed and floating charge over all assets, etc present and future.

HUGO CARTER LTD (REGISTERED NUMBER: 07389105)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023


10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 19,852 13,680

Deferred
tax
£   
Balance at 1st January 2023 13,680
Provided during year 6,172
Balance at 31st December 2023 19,852

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100