Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29falsetruetrue2023-03-01No description of principal activity22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 7154225 2023-03-01 2024-02-29 7154225 2022-03-01 2023-02-28 7154225 2024-02-29 7154225 2023-02-28 7154225 c:Director1 2023-03-01 2024-02-29 7154225 d:OfficeEquipment 2023-03-01 2024-02-29 7154225 d:OfficeEquipment 2024-02-29 7154225 d:OfficeEquipment 2023-02-28 7154225 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 7154225 d:CurrentFinancialInstruments 2024-02-29 7154225 d:CurrentFinancialInstruments 2023-02-28 7154225 d:Non-currentFinancialInstruments 2024-02-29 7154225 d:Non-currentFinancialInstruments 2023-02-28 7154225 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 7154225 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 7154225 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 7154225 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 7154225 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 7154225 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 7154225 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 7154225 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 7154225 d:ShareCapital 2024-02-29 7154225 d:ShareCapital 2023-02-28 7154225 d:RetainedEarningsAccumulatedLosses 2024-02-29 7154225 d:RetainedEarningsAccumulatedLosses 2023-02-28 7154225 c:OrdinaryShareClass1 2023-03-01 2024-02-29 7154225 c:OrdinaryShareClass1 2024-02-29 7154225 c:OrdinaryShareClass1 2023-02-28 7154225 c:FRS102 2023-03-01 2024-02-29 7154225 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 7154225 c:FullAccounts 2023-03-01 2024-02-29 7154225 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 7154225 2 2023-03-01 2024-02-29 7154225 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 7154225 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 7154225










CHRIS HUGHES HYPNOSIS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024



 
CHRIS HUGHES HYPNOSIS LIMITED
REGISTERED NUMBER: 7154225

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,648
4,165

Current assets
  

Debtors: amounts falling due within one year
 5 
26,277
35,924

Cash at bank and in hand
 6 
6,620
-

  
32,897
35,924

Creditors: amounts falling due within one year
 7 
(20,070)
(43,631)

Net current assets/(liabilities)
  
 
 
12,827
 
 
(7,707)

Total assets less current liabilities
  
18,475
(3,542)

Creditors: amounts falling due after more than one year
 8 
(16,543)
(19,493)

Provisions for liabilities
  

Deferred tax
 10 
(1,244)
(3,079)

  
 
 
(1,244)
 
 
(3,079)

Net assets/(liabilities)
  
688
(26,114)


Capital and reserves
  

Called up share capital 
 11 
1
1

Profit and loss account
  
687
(26,115)

  
688
(26,114)


Page 1

 
CHRIS HUGHES HYPNOSIS LIMITED
REGISTERED NUMBER: 7154225

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


C Hughes
Director

Date: 29 November 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CHRIS HUGHES HYPNOSIS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
1.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
1.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CHRIS HUGHES HYPNOSIS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies (continued)

 
1.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
1.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
CHRIS HUGHES HYPNOSIS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies (continued)

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
1.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing
Page 5

 
CHRIS HUGHES HYPNOSIS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.Accounting policies (continued)


1.13
Financial instruments (continued)

transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
1.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

Chris Hughes Hypnosis Limited is a limited company incorporated in England and Wales. The Company’s principal place of business is SugarfordHouse, 46 South Bar, Banbury, Oxfordshire, OX16 9AB.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 6

 
CHRIS HUGHES HYPNOSIS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Office equipment

£



Cost or valuation


At 1 March 2023
10,938


Additions
2,509



At 29 February 2024

13,447



Depreciation


At 1 March 2023
6,773


Charge for the year on owned assets
1,026



At 29 February 2024

7,799



Net book value



At 29 February 2024
5,648



At 28 February 2023
4,165


5.


Debtors

29 February
28 February
2024
2023
£
£


Other debtors
291
10,160

Directors' loan account
25,986
25,764

26,277
35,924


Included within debtors due within one year are loans to the Directors amounting to £25,986 (2023 - £25,764).  the maximum amount owing during the period was £31,386 (2023 - £44,973).  Interest has been charged at the official rate of interest.  The directors intend to repay the loan in full by 30 November 2024.

Page 7

 
CHRIS HUGHES HYPNOSIS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
6,620
-

Less: bank overdrafts
-
(2,781)

6,620
(2,781)



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank overdrafts
-
2,781

Bank loans
2,800
2,600

Taxation and social security
12,928
35,550

Other creditors
4,342
2,700

20,070
43,631



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
16,543
19,493


Page 8

 
CHRIS HUGHES HYPNOSIS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
2,800
2,600

Amounts falling due 1-2 years

Bank loans
2,800
2,700

Amounts falling due 2-5 years

Bank loans
13,743
16,793


19,343
22,093



10.


Deferred taxation






2024


£






At beginning of year
(3,079)


Charged to the profit or loss
1,835



At end of year
(1,244)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(1,244)
(3,079)


11.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £0.50 each
1
1



Page 9