Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseNo description of principal activity1112trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01824498 2023-04-01 2024-03-31 01824498 2022-04-01 2023-03-31 01824498 2024-03-31 01824498 2023-03-31 01824498 c:Director1 2023-04-01 2024-03-31 01824498 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 01824498 d:Buildings d:ShortLeaseholdAssets 2024-03-31 01824498 d:Buildings d:ShortLeaseholdAssets 2023-03-31 01824498 d:MotorVehicles 2023-04-01 2024-03-31 01824498 d:MotorVehicles 2024-03-31 01824498 d:MotorVehicles 2023-03-31 01824498 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01824498 d:FurnitureFittings 2023-04-01 2024-03-31 01824498 d:FurnitureFittings 2024-03-31 01824498 d:FurnitureFittings 2023-03-31 01824498 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01824498 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01824498 d:CurrentFinancialInstruments 2024-03-31 01824498 d:CurrentFinancialInstruments 2023-03-31 01824498 d:CurrentFinancialInstruments 1 2024-03-31 01824498 d:CurrentFinancialInstruments 1 2023-03-31 01824498 d:Non-currentFinancialInstruments 2024-03-31 01824498 d:Non-currentFinancialInstruments 2023-03-31 01824498 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01824498 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01824498 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01824498 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01824498 d:ShareCapital 2024-03-31 01824498 d:ShareCapital 2023-03-31 01824498 d:RetainedEarningsAccumulatedLosses 2024-03-31 01824498 d:RetainedEarningsAccumulatedLosses 2023-03-31 01824498 c:FRS102 2023-04-01 2024-03-31 01824498 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01824498 c:FullAccounts 2023-04-01 2024-03-31 01824498 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01824498 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 01824498 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 01824498 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 01824498 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 01824498 6 2023-04-01 2024-03-31 01824498 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 01824498










FINSTEAD (HOXTON) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FINSTEAD (HOXTON) LIMITED
REGISTERED NUMBER: 01824498

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
73,356
38,451

Investments
  
2,263
2,261

  
75,619
40,712

Current assets
  

Stocks
  
57,701
60,350

Debtors
  
507,980
501,150

Cash at bank and in hand
  
103,337
99,620

  
669,018
661,120

Creditors: amounts falling due within one year
 7 
(349,807)
(401,235)

Net current assets
  
 
 
319,211
 
 
259,885

Total assets less current liabilities
  
394,830
300,597

Creditors: amounts falling due after more than one year
  
(21,055)
-

Provisions for liabilities
  
(18,396)
(7,250)

Net assets
  
355,379
293,347


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
355,279
293,247

  
355,379
293,347


Page 1

 
FINSTEAD (HOXTON) LIMITED
REGISTERED NUMBER: 01824498
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 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 comprehensive income 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 M R Adam
Director

Date: 2 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FINSTEAD (HOXTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Finstead (Hoxton) Limited is a private company, limited by share capital, incorporated in England and Wales under registration number 01824498. The address of the registered office is Level 5A, Maple House, 149 Tottenham Court Road, London, W1T 7NF. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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.

 
2.2

Revenue

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

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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.

 
2.3

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

 
FINSTEAD (HOXTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

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.

Page 4

 
FINSTEAD (HOXTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a straight line/reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
reducing balance
Fixtures & fittings
-
20%
reducing balance

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.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately 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 5

 
FINSTEAD (HOXTON) 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 12).


4.


Tangible fixed assets





Leasehold Properties
Fixtures & fittings
Motor vechicle
Total

£
£
£
£



Cost or valuation


At 1 April 2023
3,366
86,960
6,285
96,611


Additions
-
-
46,523
46,523



At 31 March 2024

3,366
86,960
52,808
143,134



Depreciation


At 1 April 2023
3,366
48,566
6,231
58,163


Charge for the year on owned assets
-
7,679
3,936
11,615



At 31 March 2024

3,366
56,245
10,167
69,778



Net book value



At 31 March 2024
-
30,715
42,641
73,356



At 31 March 2023
-
38,394
55
38,449

Page 6

 
FINSTEAD (HOXTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
2,263



At 31 March 2024
2,263




The market value of the listed investments at 31 March 2024 was £7,256 (2023 - £7,645).


6.


Debtors

2024
2023
£
£


Trade debtors
67,281
80,339

VAT repayable
9,124
11,057

Section 458 tax repayable
112,963
107,180

Directors' loan account
310,354
293,222

Prepayments and accrued income
8,257
9,352

507,979
501,150


Included within debtors due within one year is a loan to directors', Mr M R Adam and Mrs Z Adam,  amounting to £310,354 (2023 - £293,222). The directors Mr M R Adam and Mrs Z Adam paid the company £6,829 (2023 - £5,749) as interest, calculated at the prevailing HMRC official rate of interest per annum. 



Page 7

 
FINSTEAD (HOXTON) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Hire purchase
6,394
-

Trade creditors
144,822
152,660

Other creditors
21,000
-

Amounts owed to associated company
55,000
52,000

Corporation tax and Section 455 tax
97,548
173,053

Other taxation and social security
1,697
1,509

Shareholders' loan account
10,000
8,650

Accruals and deferred income
13,346
13,363

349,807
401,235



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Hire purchase
21,055
-

21,055
-



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
6,394
-

Between 1-5 years
21,055
-

27,449
-


10.


Controlling party

The company is a 100% subsidiary of Finstead (Hoxton Holdings) Limited, a company incorporated in the United Kingdom.
The parent company is under the control of Mr M R Adam (46%) and Mrs Z Adam (44%), by virtue of the fact that between them they own 90% of the issued share capital of Finstead (Hoxton Holdings) Limited.

 
Page 8