Registration number:
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Hoo Brook Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Hoo Brook Limited
Company Information
Directors |
Mr M Beckett Ms E Verwey |
Company secretary |
Mr M Beckett |
Registered office |
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Accountants |
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Hoo Brook Limited
(Registration number: 06581186)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' deficit |
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For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Hoo Brook Limited
(Registration number: 06581186)
Balance Sheet as at 30 April 2024
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Hoo Brook Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Hoo Brook Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Asset class |
Depreciation method and rate |
Fixtures and fittings |
25% straight line basis |
Office equipment |
25% straight line basis |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Hoo Brook Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Financial instruments
Classification
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Recognition and measurement
Impairment
Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Hoo Brook Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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Amortisation |
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At 1 May 2023 |
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Charge for the year |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Hoo Brook Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Office equipment |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
- |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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- |
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At 30 April 2023 |
- |
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Debtors |
2024 |
2023 |
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Trade debtors |
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- |
Other debtors |
25,618 |
17,707 |
Prepayments |
11,487 |
10,164 |
Deferred tax assets |
28,726 |
35,740 |
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Hoo Brook Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Creditors |
2024 |
2023 |
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Due within one year |
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Bank borrowings |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Directors' loan account |
10,000 |
10,000 |
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Amounts falling due after more than one year
2024 |
2023 |
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Bank borrowings |
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Directors' loan account |
52,039 |
48,149 |
157,345 |
178,967 |
Going Concern |
At the date of approving these financial statements, the directors consider that the company is a going concern. The business has seen an increase in turnover during the year and the company is profitable which the directors expect to continue into the forseeable future. The directors are willing to continue to support the company.