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Company Registration No. 10831754 (England and Wales)
Hwd Holdings Limited Unaudited accounts for the year ended 30 September 2023
Hwd Holdings Limited Unaudited accounts Contents
Page
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Hwd Holdings Limited Company Information for the year ended 30 September 2023
Director
Mr Philip Peter Reynolds
Company Number
10831754 (England and Wales)
Registered Office
C/O Pearl Accounting Limited Suite 1, 116 Ballards Lane Finchley London N3 2DN United Kingdom
Accountants
Pearl Accounting Limited Suite 1 116 Ballards Lane Finchley London N3 2DN
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Hwd Holdings Limited Statement of financial position as at 30 September 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,204 
1,204 
Current assets
Debtors
366 
366 
Creditors: amounts falling due within one year
(35,878)
(30,878)
Net current liabilities
(35,512)
(30,512)
Total assets less current liabilities
(34,308)
(29,308)
Creditors: amounts falling due after more than one year
(38,130)
(38,130)
Provisions for liabilities
Other provisions
9,307 
9,307 
Net liabilities
(63,131)
(58,131)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(63,231)
(58,231)
Shareholders' funds
(63,131)
(58,131)
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 November 2024 and were signed on its behalf by
Mr Philip Peter Reynolds Director Company Registration No. 10831754
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Hwd Holdings Limited Notes to the Accounts for the year ended 30 September 2023
1
Statutory information
Hwd Holdings Limited is a private company, limited by shares, registered in England and Wales, registration number 10831754. The registered office is C/O Pearl Accounting Limited, Suite 1, 116 Ballards Lane, Finchley, London, N3 2DN, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard. General Information HWD Holdings Limited is authorised and regulated by the FCA as an Appointed Representative of Aspray Limited, to conduct insurance claims management for buildings and property owners who have been subject to flood, storm, fire, impact, theft damage. The franchise agreement ceased with Aspray Limited on 1 October 2021.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The company meets its day-today working capital requirements through its bank facilities and with the support of the director. The company's forecasts and projections, taking account of reasonably possible changes in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Hwd Holdings Limited Notes to the Accounts for the year ended 30 September 2023
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: Franchise cost at 20% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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Hwd Holdings Limited Notes to the Accounts for the year ended 30 September 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 October 2022
27,500 
At 30 September 2023
27,500 
Amortisation
At 1 October 2022
27,500 
At 30 September 2023
27,500 
Net book value
At 30 September 2023
- 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 October 2022
2,577 
At 30 September 2023
2,577 
Depreciation
At 1 October 2022
1,373 
At 30 September 2023
1,373 
Net book value
At 30 September 2023
1,204 
At 30 September 2022
1,204 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
366 
366 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,003 
10,003 
VAT
5,438 
5,438 
Trade creditors
(136)
(136)
Amounts owed to group undertakings and other participating interests
13,325 
13,325 
Taxes and social security
313 
313 
Other creditors
190 
190 
Loans from directors
5,745 
- 
Accruals
1,000 
1,745 
35,878 
30,878 
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Hwd Holdings Limited Notes to the Accounts for the year ended 30 September 2023
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
38,130 
38,130 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).
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