Company registration number 06842573 (England and Wales)
HUMLY HAMPSHIRE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HUMLY HAMPSHIRE LIMITED
CONTENTS
PAGE
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
HUMLY HAMPSHIRE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
FIXED ASSETS
Tangible assets
4
31,207
36,465
CURRENT ASSETS
Debtors
5
766,764
488,111
Cash at bank and in hand
292,666
264,295
1,059,430
752,406
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
6
(349,720)
(397,694)
NET CURRENT ASSETS
709,710
354,712
TOTAL ASSETS LESS CURRENT LIABILITIES
740,917
391,177
PROVISIONS FOR LIABILITIES
(4,472)
(2,689)
NET ASSETS
736,445
388,488
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss reserves
736,345
388,388
TOTAL EQUITY
736,445
388,488

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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 3 September 2024 and are signed on its behalf by:
Mr G  Bild-Tofftin
DIRECTOR
Company registration number 06842573 (England and Wales)
HUMLY HAMPSHIRE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
BALANCE AT 1 JANUARY 2022
100
399,340
399,440
YEAR ENDED 31 DECEMBER 2022:
Loss and total comprehensive income
-
(10,952)
(10,952)
BALANCE AT 31 DECEMBER 2022
100
388,388
388,488
YEAR ENDED 31 DECEMBER 2023:
Profit and total comprehensive income
-
347,957
347,957
BALANCE AT 31 DECEMBER 2023
100
736,345
736,445
HUMLY HAMPSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
ACCOUNTING POLICIES
COMPANY INFORMATION

Humly Hampshire Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, Unit D2 Fareham Heights, Standard Way, Fareham, Hampshire, PO16 8XT.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
TURNOVER

Turnover is recognised at the fair value of the consideration receivable for services provided in the normal course of business, and is shown net of VAT. The fair value of consideration take into account all discounts.

Revenue in relation to the temporary placement of supply teachers is recognised by reference to the dates the supply teaching took place.

 

Revenue in relation to permanent placements is recognised by reference to candidates' start dates.

1.3
TANGIBLE FIXED ASSETS

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, 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:

Leasehold land and buildings
20% straight line
Fixtures and fittings
25% Reducing balance
Computers
20% on cost

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.

1.4
IMPAIRMENT OF FIXED ASSETS

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
CASH AND CASH EQUIVALENTS

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HUMLY HAMPSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.6
FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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 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.

Classification of financial liabilities

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

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
EQUITY INSTRUMENTS

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
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.

HUMLY HAMPSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
ACCOUNTING POLICIES
(Continued)
- 5 -
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
EMPLOYEE BENEFITS

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
RETIREMENT BENEFITS

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
LEASES

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
EMPLOYEES

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
230
244
HUMLY HAMPSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
4
TANGIBLE FIXED ASSETS
Land and buildings
Plant and machinery etc
Total
£
£
£
COST
At 1 January 2023
7,115
68,972
76,087
Additions
16,649
583
17,232
Disposals
(7,115)
(19,002)
(26,117)
At 31 December 2023
16,649
50,553
67,202
DEPRECIATION AND IMPAIRMENT
At 1 January 2023
-
0
39,622
39,622
Depreciation charged in the year
3,330
4,302
7,632
Eliminated in respect of disposals
-
0
(11,259)
(11,259)
At 31 December 2023
3,330
32,665
35,995
CARRYING AMOUNT
At 31 December 2023
13,319
17,888
31,207
At 31 December 2022
7,115
29,350
36,465
5
DEBTORS
2023
2022
AMOUNTS FALLING DUE WITHIN ONE YEAR:
£
£
Trade debtors
332,570
285,630
Amounts owed by group undertakings
414,979
30,197
Other debtors
19,215
172,284
766,764
488,111
6
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
£
£
Trade creditors
12,792
21,708
Amounts owed to group undertakings
61,073
53,635
Taxation and social security
220,645
243,290
Other creditors
55,210
79,061
349,720
397,694

A charge was created on 20 July 2022 by Danske Bank A/S by means of both a fixed and floating charge over all the property and undertakings of the company.

HUMLY HAMPSHIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
7
AUDIT REPORT INFORMATION

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Statutory Auditor:
Jon Brand FCA
Date of audit report:
3 September 2024
8
OPERATING LEASE COMMITMENTS
LESSEE

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
50,293
68,395
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