Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31the provision of services as consulting scientists and engineers to clients who are primarily based in the insurance and legal professions.2023-04-01false99truetrue 08616051 2023-04-01 2024-03-31 08616051 2022-04-01 2023-03-31 08616051 2024-03-31 08616051 2023-03-31 08616051 c:Director3 2023-04-01 2024-03-31 08616051 c:Director6 2023-04-01 2024-03-31 08616051 d:ComputerEquipment 2023-04-01 2024-03-31 08616051 d:ComputerEquipment 2024-03-31 08616051 d:ComputerEquipment 2023-03-31 08616051 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08616051 d:CurrentFinancialInstruments 2024-03-31 08616051 d:CurrentFinancialInstruments 2023-03-31 08616051 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08616051 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08616051 d:ShareCapital 2024-03-31 08616051 d:ShareCapital 2023-03-31 08616051 d:RetainedEarningsAccumulatedLosses 2024-03-31 08616051 d:RetainedEarningsAccumulatedLosses 2023-03-31 08616051 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08616051 c:OrdinaryShareClass1 2024-03-31 08616051 c:OrdinaryShareClass1 2023-03-31 08616051 c:FRS102 2023-04-01 2024-03-31 08616051 c:Audited 2023-04-01 2024-03-31 08616051 c:FullAccounts 2023-04-01 2024-03-31 08616051 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08616051 d:WithinOneYear 2024-03-31 08616051 d:WithinOneYear 2023-03-31 08616051 c:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08616051 2 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08616051









HAWKINS (INTERNATIONAL) LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
HAWKINS (INTERNATIONAL) LIMITED
REGISTERED NUMBER: 08616051

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
AED
AED

Fixed assets
  

Tangible assets
 4 
655
2,824

Current assets
  

Debtors: amounts falling due within one year
 5 
5,869,350
4,347,489

Cash at bank and in hand
 6 
134,592
245,831

  
6,003,942
4,593,320

Creditors: amounts falling due within one year
 7 
(6,802,140)
(5,666,464)

Net current liabilities
  
 
 
(798,198)
 
 
(1,073,144)

  

Net liabilities
  
(797,543)
(1,070,320)


Capital and reserves
  

Called up share capital 
 8 
478
478

Profit and loss account
  
(798,021)
(1,070,798)

  
(797,543)
(1,070,320)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr A D Chambers
................................................
Dr A C Prickett
Director
Director
Date: 7 August 2024

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
HAWKINS (INTERNATIONAL) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Hawkins (International) Limited is a private company limited by shares and incorporated in England, United Kingdom. The principal place of business of the company is in Dubai, United Arab Emirates, under trade licence number 704737. The principal activity of the company is the provision of services as consulting scientists and engineers to clients who are primarily in the insurance and legal professions.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are rounded to the nearest AED.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the going concern basis of preparation of the financial statements, noting the net liabilities position at the balance sheet date, forecasts and plans going forward, and the reliance on the parent entity for financial support.
The current plans and forecasts show that a material uncertainty to the going concern remains and the company will require the continued support of the parent company to meet its liabilities as they fall due for the foreseeable future, being a period of not less than 12 months from the date of approval of these financial statements. 
While the directors are confident that the parent company has the intention and ability to provide the support needed, and hence the directors consider it appropriate to continue to prepare the financial statements on a going concern basis, the extent of this reliance on the parent company represents a material uncertainty.

Page 2

 
HAWKINS (INTERNATIONAL) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is United Arab Emirates Dirham (AED).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
HAWKINS (INTERNATIONAL) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
HAWKINS (INTERNATIONAL) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
For financial assets measured at cost less impairment, the impairment loss is measured as the
difference between an asset's carrying amount and best estimate of the recoverable amount, which
is an approximation of the amount that the Company would receive for the asset if it were to be sold
at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when
there is an 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.

 
2.13

Interest income

Interest income is recognised in profit or loss using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).

Page 5

 
HAWKINS (INTERNATIONAL) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Computer equipment

AED



Cost 


At 1 April 2023
15,158



At 31 March 2024

15,158



Depreciation


At 1 April 2023
12,334


Charge for the year on owned assets
2,169



At 31 March 2024

14,503



Net book value



At 31 March 2024
655



At 31 March 2023
2,824


5.


Debtors

2024
2023
AED
AED


Trade debtors
5,149,330
3,364,172

Amounts owed by group undertakings
24,742
-

Other debtors
45,502
-

Prepayments and accrued income
223,533
217,525

Amounts recoverable on long-term contracts
426,243
765,792

5,869,350
4,347,489



6.


Cash and cash equivalents

2024
2023
AED
AED

Cash at bank and in hand
134,592
245,831


Page 6

 
HAWKINS (INTERNATIONAL) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
AED
AED

Trade creditors
98,776
-

Amounts owed to group undertakings
6,240,803
5,029,808

Corporation tax
-
188,441

Other taxation and social security
30,090
17,181

Accruals and deferred income
432,471
431,034

6,802,140
5,666,464





8.


Share capital

2024
2023
AED
AED
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
478
478



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pensions cost charge represents contributions payable by the company to the fund and amounted to AED52,691 (2023: AED42,505). At the balance sheet date no contributions (2023: AEDNil) were payable to the fund.


10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
AED
AED


Not later than 1 year
108,000
-


11.


Related party transactions

The company is a wholly owned subsidiary of Hawkins & Associates Limited, a company which prepares consolidated financial statements. On this basis, the company has claimed the available exemption from disclosing related party transactions that eliminate on consolidation with other wholly owned group companies.
The company has not reported remuneration of key management as this is included within the consolidated financial statements of Hawkins & Associates Limited.

Page 7

 
HAWKINS (INTERNATIONAL) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Controlling party

The immediate parent company and ultimate controlling party is Hawkins & Associates Limited, a company registered in England and Wales. The Registered office of the parent company is 88 Leadenhall Street, London, England, EC3A 3BP.
Hawkins & Associates Limited prepares consolidated financial statements and these are available from Companies House.

Page 8

 
HAWKINS (INTERNATIONAL) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

We draw attention to note 2.2 in the financial statements which indicates that, based on the reported financial position and expected plans and forecasts for the next 12 months, the Company will require the support of its parent company to meet its liabilities as they fall due.  The extent of this reliance on the parent company for financial support indicates that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

The audit report was signed on 10 September 2024 by Andrew Booth (Senior Statutory Auditor) on behalf of Price Bailey LLP.

Page 9