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Company No: 04944533 (England and Wales)

HUGHES PRICE WALKER LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

HUGHES PRICE WALKER LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

HUGHES PRICE WALKER LIMITED

BALANCE SHEET

As at 31 December 2023
HUGHES PRICE WALKER LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 7,897 10,686
7,897 10,686
Current assets
Debtors 4 723,036 591,785
Cash at bank and in hand 2,139,370 1,862,031
2,862,406 2,453,816
Creditors: amounts falling due within one year 5 ( 348,005) ( 221,298)
Net current assets 2,514,401 2,232,518
Total assets less current liabilities 2,522,298 2,243,204
Provision for liabilities 0 ( 1,192)
Net assets 2,522,298 2,242,012
Capital and reserves
Called-up share capital 6 200 200
Capital redemption reserve 100 100
Profit and loss account 2,521,998 2,241,712
Total shareholders' funds 2,522,298 2,242,012

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Hughes Price Walker Limited (registered number: 04944533) were approved and authorised for issue by the Director on 24 September 2024. They were signed on its behalf by:

R W Hughes
Director
HUGHES PRICE WALKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
HUGHES PRICE WALKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hughes Price Walker Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 15 Pembroke Road, Clifton, Bristol, BS8 3BA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Actuarial consultancy income is recognised to the extend that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Actuarial consultancy income 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:

Rendering of services

Actuarial consultancy income 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.

Interest income

Interest income is recognised over time based on the amount outstanding and the effective interest rate.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 3 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 29 29

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 January 2023 92,009 154,238 246,247
Additions 0 4,725 4,725
At 31 December 2023 92,009 158,963 250,972
Accumulated depreciation
At 01 January 2023 92,009 143,552 235,561
Charge for the financial year 0 7,514 7,514
At 31 December 2023 92,009 151,066 243,075
Net book value
At 31 December 2023 0 7,897 7,897
At 31 December 2022 0 10,686 10,686

4. Debtors

2023 2022
£ £
Trade debtors 628,835 536,070
Prepayments 66,000 55,715
Deferred tax asset 15,163 0
Other debtors 13,038 0
723,036 591,785

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 23,163 3,274
Accruals 98,589 45,674
Corporation tax 120,648 73,651
Other taxation and social security 95,290 89,231
Other creditors 10,315 9,468
348,005 221,298

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each 200 200

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 52,300 52,300
between one and five years 0 52,300
52,300 104,600