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Registration number: 08224735

Charles Hoile Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Charles Hoile Ltd

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Charles Hoile Ltd

(Registration number: 08224735)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,500

19,500

Tangible assets

5

1,060

1,782

 

7,560

21,282

Current assets

 

Stocks

6

100

100

Debtors

7

109,051

114,579

Cash at bank and in hand

 

133,396

90,381

 

242,547

205,060

Creditors: Amounts falling due within one year

8

(53,065)

(52,750)

Net current assets

 

189,482

152,310

Net assets

 

197,042

173,592

Capital and reserves

 

Called up share capital

58

58

Retained earnings

196,984

173,534

Shareholders' funds

 

197,042

173,592

 

Charles Hoile Ltd

(Registration number: 08224735)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 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 her 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 October 2024
 

.........................................
A L R Scott-Malden
Company secretary and director

 

Charles Hoile Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Broadway House
4-8 The Broadway
Newbury
Berkshire
RG14 1BA

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 provision of legal services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.In respect of long-term contracts for on-going services, turnover represents the value of work in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts for on-going services is recongnised by reference to the stage of completion.

Tax

The tax expense for the period comprises current tax payable.

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

Office equipment

25% reducing balance

 

Charles Hoile Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

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.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

over 10 years

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.

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Charles Hoile Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

130,000

130,000

At 30 June 2024

130,000

130,000

Amortisation

At 1 July 2023

110,500

110,500

Amortisation charge

13,000

13,000

At 30 June 2024

123,500

123,500

Carrying amount

At 30 June 2024

6,500

6,500

At 30 June 2023

19,500

19,500

 

Charles Hoile Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

68,633

68,633

Additions

319

319

Disposals

(52)

(52)

At 30 June 2024

68,900

68,900

Depreciation

At 1 July 2023

66,851

66,851

Charge for the year

1,015

1,015

Eliminated on disposal

(26)

(26)

At 30 June 2024

67,840

67,840

Carrying amount

At 30 June 2024

1,060

1,060

At 30 June 2023

1,782

1,782

6

Stocks

2024
£

2023
£

Other inventories

100

100

7

Debtors

Current

2024
£

2023
£

Trade debtors

19,060

28,016

Prepayments

12,620

9,524

Other debtors

77,371

77,039

 

109,051

114,579

 

Charles Hoile Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

4,344

Taxation and social security

46,271

39,065

Other creditors

6,794

9,341

53,065

52,750

9

Related party transactions

Other transactions with directors

Included in other creditors at the year end is a balance due to the directors of £1,109 (2023 - £3.765).