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Registered number: 08250548














MARK HUTCHINSON MANAGEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
MARK HUTCHINSON MANAGEMENT LIMITED
 

CONTENTS



Page
Statement of financial position
 
1
Notes to the financial statements
 
2 - 6


 
MARK HUTCHINSON MANAGEMENT LIMITED
REGISTERED NUMBER:08250548

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Intangible assets
 4 
-
-

Tangible assets
 5 
-
-

  
-
-

Current assets
  

Debtors Within One Year
 6 
28,625
20,968

Bank and cash balances
  
1,005,547
938,816

  
1,034,172
959,784

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(142,928)
(131,307)

Net current assets
  
 
 
891,244
 
 
828,477

  

Net assets
  
891,244
828,477


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
891,144
828,377

  
891,244
828,477


The Director considers 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 Director acknowledges his 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 comprehensive income 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 on 11 September 2024.


M Hutchinson
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
MARK HUTCHINSON MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Mark Hutchinson Management Limited is a limited company incorporated in England and Wales. It's registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD. 
The financial statements are presented in £ sterling, which is the functional currency of the Company.
The principal activity of the Company during the year was that of public relations and communications.

2.Accounting policies

 
2.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised when the service is provided.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 2

 
MARK HUTCHINSON MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

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.

 
2.5

Financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Cash and cash equivalents comprise cash balances and call deposits.

 
2.6

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable.

 
2.8

Operating leases: the Company as lessee

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.

Page 3

 
MARK HUTCHINSON MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Interest income

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


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
75,000



At 31 March 2024

75,000



Amortisation


At 1 April 2023
75,000



At 31 March 2024

75,000



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 4

 
MARK HUTCHINSON MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
6,935



At 31 March 2024

6,935



Depreciation


At 1 April 2023
6,935



At 31 March 2024

6,935



Net book value



At 31 March 2024
-



At 31 March 2023
-


6.


Debtors

2024
2023
£
£


Trade debtors
25,984
19,847

Other debtors
2,641
1,121

28,625
20,968



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other taxation and social security
40,110
43,071

Other creditors
102,818
88,236

142,928
131,307


Page 5

 
MARK HUTCHINSON MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



9.


Pension commitments

The Company contributes to a defined contributions pension scheme. The assets of the scheme are held
separately from those of the Company in an independently administered fund. The pension cost charge
represents contributions payable by the company to the fund and amounted to £988 (2023 - £974). Contributions totaling £82 (2023 - £Nil) were payable to the fund at the reporting date and are included in creditors.

 
Page 6