Company registration number 05374162 (England and Wales)
HAWKESWORTH APPLIANCE TESTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
HAWKESWORTH APPLIANCE TESTING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HAWKESWORTH APPLIANCE TESTING LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
90,329
81,577
Tangible assets
4
455,126
461,699
545,455
543,276
Current assets
Debtors
5
2,046,948
1,843,332
Cash at bank and in hand
2,330,996
2,656,658
4,377,944
4,499,990
Creditors: amounts falling due within one year
6
(1,174,121)
(1,717,596)
Net current assets
3,203,823
2,782,394
Total assets less current liabilities
3,749,278
3,325,670
Provisions for liabilities
(25,000)
(21,500)
Net assets
3,724,278
3,304,170
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
3,723,278
3,303,170
Total equity
3,724,278
3,304,170

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

HAWKESWORTH APPLIANCE TESTING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2024
30 June 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 October 2024 and are signed on its behalf by:
Mr T G Crowley
Director
Company registration number 05374162 (England and Wales)
HAWKESWORTH APPLIANCE TESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information

Hawkesworth Appliance Testing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Guidance House, York Road, Thirsk, North Yorkshire, YO7 3BT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and volume rebates.

1.3
Intangible fixed assets other than goodwill

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
20% straight line

Software costs in relation to implementation and configuration are capitalised at the point the work is completed and will be amortised when the software has come into use by the business.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Freehold buildings
2% straight line
Freehold land
Nil
Office equipment & fixtures and fittings
25% to 33% straight line
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

HAWKESWORTH APPLIANCE TESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

HAWKESWORTH APPLIANCE TESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
43
41
3
Intangible fixed assets
Goodwill
Computer Software
Total
£
£
£
Cost
At 1 July 2023
500,000
81,577
581,577
Additions
-
0
16,809
16,809
At 30 June 2024
500,000
98,386
598,386
Amortisation
At 1 July 2023
500,000
-
0
500,000
Amortisation charged for the year
-
0
8,057
8,057
At 30 June 2024
500,000
8,057
508,057
Carrying amount
At 30 June 2024
-
0
90,329
90,329
At 30 June 2023
-
0
81,577
81,577
HAWKESWORTH APPLIANCE TESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
4
Tangible fixed assets
Freehold Buildings
Freehold Land
Office equipment & fixtures and fittings
Total
£
£
£
£
Cost
At 1 July 2023
563,880
50,000
121,072
734,952
Additions
-
0
-
0
10,342
10,342
At 30 June 2024
563,880
50,000
131,414
745,294
Depreciation
At 1 July 2023
160,738
-
0
112,515
273,253
Depreciation charged in the year
11,282
-
0
5,633
16,915
At 30 June 2024
172,020
-
0
118,148
290,168
Carrying amount
At 30 June 2024
391,860
50,000
13,266
455,126
At 30 June 2023
403,142
50,000
8,557
461,699
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,726,184
1,759,916
Corporation tax recoverable
90,400
-
0
Other debtors
-
0
700
Prepayments
230,364
82,716
2,046,948
1,843,332
HAWKESWORTH APPLIANCE TESTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank overdrafts
-
0
115,427
Trade creditors
299,853
324,973
Corporation tax
19,994
245,661
Other taxation and social security
251,556
311,221
Other creditors
5,783
48,236
Accruals and deferred income
596,935
672,078
1,174,121
1,717,596

Included in other creditors are unsecured, interest free loans of £5,783 (2023: £48,236) from the directors which is repayable on demand.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
113,280
131,220
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