Company Registration No. 08462132 (England and Wales)
HAMPTON MORTGAGE SERVICING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HAMPTON MORTGAGE SERVICING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
HAMPTON MORTGAGE SERVICING LIMITED
Company Registration No. 08462132
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
91
6,337
Current assets
Debtors
5
114,565
128,788
Cash at bank and in hand
399,091
870,478
513,656
999,266
Creditors: amounts falling due within one year
6
(58,395)
(148,104)
Net current assets
455,261
851,162
Net assets
455,352
857,499
Capital and reserves
Called up share capital
7
103
103
Profit and loss reserves
455,249
857,396
Total equity
455,352
857,499
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 11 September 2024 and are signed on its behalf by:
D Gorham
Director
HAMPTON MORTGAGE SERVICING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Hampton Mortgage Servicing Limited is a private company limited by shares incorporated in England and Wales. The registered office is South Wing 1st Floor, Molex House, Millennium Centre, Farnham, GU9 7XX.
The principal activity of the company during the year was the provision of administration and servicing for shared equity/ownership and second charge mortgage portfolios.
1.1
Accounting convention
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 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 £.
1.2
Going concern
The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. In reaching this conclusion, the Directors have considered the working capital position, the strong financial position and the current and expected trading results of the Company. The Directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4
Intangible fixed assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Computer software is being amortised evenly over its estimated useful life of three years.
1.5
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life using the straight-line basis or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost and 20% on cost
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.
HAMPTON MORTGAGE SERVICING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
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.
1.7
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
1.8
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
9
3
Intangible fixed assets
Other
£
Cost
At 1 April 2023 and 31 March 2024
5,582
Amortisation and impairment
At 1 April 2023 and 31 March 2024
5,582
Carrying amount
At 31 March 2024
At 31 March 2023
HAMPTON MORTGAGE SERVICING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 31 March 2024
121,721
Depreciation and impairment
At 1 April 2023
115,384
Depreciation charged in the year
6,246
At 31 March 2024
121,630
Carrying amount
At 31 March 2024
91
At 31 March 2023
6,337
4
Hire purchase:
Plant and machinery etc
£
Cost
At 1 April 2023
81,316
At 31 March 2024
81,316
Depreciation and impairment
At 1 April 2023
75,258
Depreciation charged in the year
6,058
At 31 March 2024
81,316
NET Book Value
At 31 March 2024
-
At 31 March 2023
6,058
HAMPTON MORTGAGE SERVICING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
47,413
92,772
Amounts owed by group undertakings
33,567
Other debtors
33,585
36,016
114,565
128,788
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,985
39,638
Amounts owed to group undertakings
51,145
Taxation and social security
21,298
31,444
Other creditors
30,112
25,877
58,395
148,104
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of 1p each
10,250
10,250
103
103
8
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.
Timothy Herbert (Senior Statutory Auditor)
for and on behalf of PKF Littlejohn LLP
HAMPTON MORTGAGE SERVICING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
9
Operating lease commitments
Lessee
At 31 March 2024, the company had outstanding commitments for future minimum lease payments under
non-cancellable operating leases which fall due as follows:
2024
2023
£
£
Within one year
48,038
40,219
Between one and five years
57,672
189,150
105,710
229,369
HAMPTON MORTGAGE SERVICING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
10
Related party transactions
Transactions with related parties
During the year, the company entered into the following transactions with companies related through common control:
Description of
Income
Payments
transaction
2024
2023
2024
2023
£
£
£
£
Qsix LLP
Services received
237,648
286,113
QSix Real Estate Finance LLP
Services paid
810
Balances with related parties
Amounts owed by
Amounts owed to
related parties
related parties
2024
2023
2024
2023
£
£
£
£
QSix LLP
33,567
51,145
Services to related parties were made at the Company's usual rates. Expenses were re-imbursed at cost.
The amounts outstanding are unsecured, non-interest bearing and will be settled in cash. No guarantees have been given or received.
11
Parent company
The company's parent entity is QSix LLP.
The parent of the smallest and largest group for which consolidated accounts are drawn up for which the company is a member is QSix LLP. QSix LLP is a Limited Liability Partnership registered in England and Wales, registered office: Royal Trust House, 54-56 Jermyn Street, London, SW1Y 6LX