Company Registration No. 07477862 (England and Wales)
HCM PROPERTY CONSULTANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HCM PROPERTY CONSULTANTS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
HCM PROPERTY CONSULTANTS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,494
1,386
Current assets
Debtors
5
9,874
4,609
Cash at bank and in hand
34,032
35,292
43,906
39,901
Creditors: amounts falling due within one year
6
(7,056)
(6,454)
Net current assets
36,850
33,447
Total assets less current liabilities
38,344
34,833
Provisions for liabilities
(284)
(346)
Net assets
38,060
34,487
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
37,860
34,287
Total equity
38,060
34,487
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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 10 July 2024 and are signed on its behalf by:
Zara Myers
Director
Company registration number 07477862 (England and Wales)
HCM PROPERTY CONSULTANTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2022
200
48,697
48,897
Year ended 31 December 2022:
Loss and total comprehensive income
-
(8,410)
(8,410)
Dividends
-
(6,000)
(6,000)
Balance at 31 December 2022
200
34,287
34,487
Year ended 31 December 2023:
Profit and total comprehensive income
-
5,573
5,573
Dividends
-
(2,000)
(2,000)
Balance at 31 December 2023
200
37,860
38,060
HCM PROPERTY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
HCM Property Consultants Limited is a private company limited by shares incorporated in England and Wales. The registered office is Common Farm, Great Bolas, Telford, Shropshire, TF6 6PJ.
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 received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
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:
Fixtures and fittings
20% on written down value
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
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.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
HCM PROPERTY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
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
2
2
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 January 2023
3,356
Additions
482
At 31 December 2023
3,838
Depreciation and impairment
At 1 January 2023
1,970
Depreciation charged in the year
374
At 31 December 2023
2,344
Carrying amount
At 31 December 2023
1,494
At 31 December 2022
1,386
HCM PROPERTY CONSULTANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
9,863
4,609
Other debtors
11
9,874
4,609
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
556
Taxation and social security
3,449
3,486
Other creditors
2,047
812
Accruals and deferred income
1,560
1,600
7,056
6,454
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
A Ordinary of £1 each
100
100
100
100
200
200
200
200
8
Directors' transactions
Dividends totalling £2,000 (2022 - £6,000) were paid in the year in respect of shares held by the company's directors.