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Registered number: 07462794
We Are Hattrick Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
AJK Accountancy Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07462794
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,003 15,547
Investments 5 - 93,864
2,003 109,411
CURRENT ASSETS
Debtors 6 69,424 118,895
Cash at bank and in hand 187,067 140,524
256,491 259,419
Creditors: Amounts Falling Due Within One Year 7 (62,594 ) (116,044 )
NET CURRENT ASSETS (LIABILITIES) 193,897 143,375
TOTAL ASSETS LESS CURRENT LIABILITIES 195,900 252,786
Creditors: Amounts Falling Due After More Than One Year 8 (14,167 ) (24,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (381 ) (2,758 )
NET ASSETS 181,352 225,861
CAPITAL AND RESERVES
Called up share capital 9 50 50
Profit and Loss Account 181,302 225,811
SHAREHOLDERS' FUNDS 181,352 225,861
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Malin Cunningham
Director
19/09/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
We Are Hattrick Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07462794 . The registered office is 67 Ludford Grove, Sale, M33 4DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Straight line over 6 years
Motor Vehicles 33% on cost
Fixtures & Fittings at varying rates on cost
Computer Equipment 33% on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 38,755 19,263 20,198 78,216
As at 31 December 2023 38,755 19,263 20,198 78,216
Depreciation
As at 1 January 2023 31,290 14,828 16,551 62,669
Provided during the period 7,465 4,114 1,965 13,544
As at 31 December 2023 38,755 18,942 18,516 76,213
Net Book Value
As at 31 December 2023 - 321 1,682 2,003
As at 1 January 2023 7,465 4,435 3,647 15,547
5. Investments
Other
£
Cost
As at 1 January 2023 93,864
Disposals (97,406 )
Revaluations 3,542
As at 31 December 2023 -
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 93,864
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 53,595 103,543
Prepayments and accrued income 11,457 10,980
Other debtors 4,372 4,372
69,424 118,895
Page 4
Page 5
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 9,464 17,751
Bank loans and overdrafts 10,000 10,000
Corporation tax 1,269 236
Other taxes and social security 20,267 25,361
Other creditors 1,873 1,797
Accruals and deferred income 19,721 60,899
62,594 116,044
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 14,167 24,167
9. Share Capital
2023 2022
Allotted, called up and fully paid £ £
50 Ordinary A shares of £ 1.000 each 50 50
Page 5