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Charles Hobbs Technology Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

Registration number: 5038111

 

Charles Hobbs Technology Consulting Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Charles Hobbs Technology Consulting Limited

(Registration number: 5038111)
Statement of financial position as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,689

3,329

Current assets

 

Debtors

5

89,930

51,074

Cash at bank and in hand

 

5,462

5,494

 

95,392

56,568

Creditors: Amounts falling due within one year

6

(45,373)

(20,309)

Net current assets

 

50,019

36,259

Total assets less current liabilities

 

52,708

39,588

Creditors: Amounts falling due after more than one year

6

(9,115)

(8,887)

Provisions for liabilities

(511)

(633)

Net assets

 

43,082

30,068

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

43,081

30,067

Shareholders' funds

 

43,082

30,068

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 14 November 2024
 

.........................................
Mr C Hobbs
Director

 

Charles Hobbs Technology Consulting 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 and Wales.

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 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 and deferred 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Charles Hobbs Technology Consulting Limited

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

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

20,836

20,836

At 29 February 2024

20,836

20,836

Depreciation

At 1 March 2023

17,507

17,507

Charge for the year

640

640

At 29 February 2024

18,147

18,147

Carrying amount

At 29 February 2024

2,689

2,689

At 28 February 2023

3,329

3,329

5

Debtors

Current

2024
£

2023
£

Trade debtors

22,850

6,131

Other debtors

67,080

44,943

 

89,930

51,074

 

Charles Hobbs Technology Consulting Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

9,246

3,950

Trade creditors

 

2,349

-

Taxation and social security

 

32,178

14,759

Accruals and deferred income

 

1,600

1,600

 

45,373

20,309

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

9,115

8,887

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bounce Back Loan

9,115

8,887

2024
£

2023
£

Current loans and borrowings

Bounce Back Loan

1,793

3,950

Bank overdrafts

7,453

-

9,246

3,950

 

Charles Hobbs Technology Consulting Limited

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

9

Related party transactions

Transactions with the director

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr C Hobbs

Loan at 2.25% interest per annum

43,134

65,482

(43,134)

65,482

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr C Hobbs

Loan at 2.25% interest per annum

52,825

50,559

(60,250)

43,134