Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseHeating, air conditioning and ventilation engineering66truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01195904 2023-02-01 2024-01-31 01195904 2022-02-01 2023-01-31 01195904 2024-01-31 01195904 2023-01-31 01195904 c:Director2 2023-02-01 2024-01-31 01195904 d:MotorVehicles 2023-02-01 2024-01-31 01195904 d:MotorVehicles 2024-01-31 01195904 d:MotorVehicles 2023-01-31 01195904 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01195904 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 01195904 d:FurnitureFittings 2023-02-01 2024-01-31 01195904 d:FurnitureFittings 2024-01-31 01195904 d:FurnitureFittings 2023-01-31 01195904 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01195904 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 01195904 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01195904 d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 01195904 d:CurrentFinancialInstruments 2024-01-31 01195904 d:CurrentFinancialInstruments 2023-01-31 01195904 d:Non-currentFinancialInstruments 2024-01-31 01195904 d:Non-currentFinancialInstruments 2023-01-31 01195904 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 01195904 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 01195904 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 01195904 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 01195904 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 01195904 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 01195904 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 01195904 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 01195904 d:ShareCapital 2024-01-31 01195904 d:ShareCapital 2023-01-31 01195904 d:RetainedEarningsAccumulatedLosses 2024-01-31 01195904 d:RetainedEarningsAccumulatedLosses 2023-01-31 01195904 c:FRS102 2023-02-01 2024-01-31 01195904 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 01195904 c:FullAccounts 2023-02-01 2024-01-31 01195904 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01195904 2 2023-02-01 2024-01-31 01195904 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 01195904 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 01195904 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 01195904









HUGGINS & SQUIRE LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
HUGGINS & SQUIRE LTD
REGISTERED NUMBER: 01195904

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,932
5,918

  
4,932
5,918

Current assets
  

Stocks
 5 
52,694
21,459

Debtors: amounts falling due within one year
 6 
392,843
199,565

Cash at bank and in hand
 7 
100
100

  
445,637
221,124

Creditors: amounts falling due within one year
 8 
(404,414)
(174,270)

Net current assets
  
 
 
41,223
 
 
46,854

Total assets less current liabilities
  
46,155
52,772

Creditors: amounts falling due after more than one year
 9 
(20,234)
(30,234)

Provisions for liabilities
  

Deferred tax
 11 
(986)
(937)

  
 
 
(986)
 
 
(937)

Net assets
  
24,935
21,601


Capital and reserves
  

Called up share capital 
  
25,188
25,188

Profit and loss account
  
(253)
(3,587)

  
24,935
21,601


Page 1

 
HUGGINS & SQUIRE LTD
REGISTERED NUMBER: 01195904
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 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 on 21 October 2024.




................................................
M. Collis
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The legal form of the entity is a private company limited by shares, registered in England and Wales and the registered address is situated at Unit 3 Bradburys Court, Lyon Road, Harrow, Middlesex, HA1 2BY.

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.

The following principal accounting policies have been applied:

 
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

Interest income

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

Page 3

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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

 
2.7

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.


Page 4

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
10%

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

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 February 2023
30,080
35,121
65,201



At 31 January 2024

30,080
35,121
65,201



Depreciation


At 1 February 2023
27,450
31,833
59,283


Charge for the year on owned assets
-
329
329


Charge for the year on financed assets
657
-
657



At 31 January 2024

28,107
32,162
60,269



Net book value



At 31 January 2024
1,973
2,959
4,932



At 31 January 2023
2,630
3,288
5,918

Page 6

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Stocks

2024
2023
£
£

Work in progress (goods to be sold)
40,000
-

Finished goods and goods for resale
12,694
21,459

52,694
21,459



6.


Debtors

2024
2023
£
£


Trade debtors
291,157
58,383

Other debtors
70,213
10,713

Prepayments and accrued income
31,473
130,469

392,843
199,565



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
100
100

Less: bank overdrafts
(74,641)
(86,875)

(74,541)
(86,775)


Page 7

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
74,641
86,875

Bank loans
81,780
10,000

Trade creditors
229,734
61,637

Corporation tax
6,575
4,840

Other taxation and social security
6,618
3,676

Other creditors
2,171
4,502

Accruals and deferred income
2,895
2,740

404,414
174,270



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
20,234
30,234

20,234
30,234


Page 8

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
81,780
10,000


81,780
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
10,234
20,234


10,234
20,234


102,014
40,234


Page 9

 
HUGGINS & SQUIRE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Deferred taxation




2024


£






At beginning of year
(937)


Charged to profit or loss
(49)



At end of year
(986)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(987)
(937)

(987)
(937)


12.


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 pension cost charge represents contributions payable by the Company to the fund and amounted to £4,920 (2023 - £4,629).  Contributions totalling £1,367 (2023 - £2,958) were payable to the fund at the reporting date and are included in creditors.


13.


Transactions with directors

As at the balance sheet date the company owed £805 (2023 - £645) to the directors that is included in other creditors amounts falling due within one year.  The principal terms of the advance are that they are repayable on demand and provided free of interest. 
 
Page 10