Mr Hottubs Limited 04994710 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is the selling and installation of hottubs Digita Accounts Production Advanced 6.30.9574.0 true true 04994710 2023-03-01 2024-02-29 04994710 2024-02-29 04994710 bus:OrdinaryShareClass1 2024-02-29 04994710 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-02-29 04994710 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-02-29 04994710 core:CurrentFinancialInstruments 2024-02-29 04994710 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 04994710 core:Non-currentFinancialInstruments 2024-02-29 04994710 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 04994710 core:MotorVehicles 2024-02-29 04994710 core:OtherPropertyPlantEquipment 2024-02-29 04994710 bus:SmallEntities 2023-03-01 2024-02-29 04994710 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04994710 bus:FullAccounts 2023-03-01 2024-02-29 04994710 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 04994710 bus:RegisteredOffice 2023-03-01 2024-02-29 04994710 bus:Director1 2023-03-01 2024-02-29 04994710 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 04994710 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04994710 core:MotorVehicles 2023-03-01 2024-02-29 04994710 core:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 04994710 core:PlantMachinery 2023-03-01 2024-02-29 04994710 countries:England 2023-03-01 2024-02-29 04994710 2023-02-28 04994710 core:MotorVehicles 2023-02-28 04994710 core:OtherPropertyPlantEquipment 2023-02-28 04994710 2022-03-01 2023-02-28 04994710 2023-02-28 04994710 bus:OrdinaryShareClass1 2023-02-28 04994710 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-02-28 04994710 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-02-28 04994710 core:CurrentFinancialInstruments 2023-02-28 04994710 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04994710 core:Non-currentFinancialInstruments 2023-02-28 04994710 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 04994710 core:MotorVehicles 2023-02-28 04994710 core:OtherPropertyPlantEquipment 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04994710

Mr Hottubs Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Mr Hottubs Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Mr Hottubs Limited

Company Information

Director

Mr S Swinburn

Registered office

35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

 

Mr Hottubs Limited

(Registration number: 04994710)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

160,809

198,783

Current assets

 

Stocks

5

132,470

92,932

Debtors

6

4,599

13,905

Cash at bank and in hand

 

28,945

44,059

 

166,014

150,896

Creditors: Amounts falling due within one year

7

(21,507)

(39,458)

Net current assets

 

144,507

111,438

Total assets less current liabilities

 

305,316

310,221

Creditors: Amounts falling due after more than one year

7

(46,181)

(16,732)

Net assets

 

259,135

293,489

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

259,134

293,488

Shareholders' funds

 

259,135

293,489

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 26 September 2024
 

.........................................
Mr S Swinburn
Director

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

The principal place of business is:
65 High Street
Hatfield
Doncaster
South Yorkshire
DN7 6RS

These financial statements were authorised for issue by the director on 26 September 2024.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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 taxable income.

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:

Asset class

Depreciation method and rate

Motor Vehicles

20% reducing balance

Plant & machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

169,611

188,252

357,863

Additions

46,264

3,446

49,710

Disposals

(40,825)

-

(40,825)

At 29 February 2024

175,050

191,698

366,748

Depreciation

At 1 March 2023

42,429

116,651

159,080

Charge for the year

32,756

15,010

47,766

Eliminated on disposal

(907)

-

(907)

At 29 February 2024

74,278

131,661

205,939

Carrying amount

At 29 February 2024

100,772

60,037

160,809

At 28 February 2023

127,182

71,601

198,783

5

Stocks

2024
£

2023
£

Other inventories

132,470

92,932

6

Debtors

Current

2024
£

2023
£

Trade debtors

3,335

5,257

Other debtors

1,264

8,648

 

4,599

13,905

7

Creditors

Creditors: amounts falling due within one year

 

Mr Hottubs Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

12,868

14,289

Taxation and social security

 

508

6,747

Accruals and deferred income

 

1,710

1,600

Other creditors

 

6,421

16,822

 

21,507

39,458

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

46,181

16,732

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

2,232

Hire purchase contracts

46,181

14,500

46,181

16,732

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

10,119

Hire purchase contracts

12,868

4,170

12,868

14,289