Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-306falsefalseNo description of principal activity2022-10-016truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05149074 2022-10-01 2023-09-30 05149074 2021-10-01 2022-09-30 05149074 2023-09-30 05149074 2022-09-30 05149074 c:Director2 2022-10-01 2023-09-30 05149074 d:PlantMachinery 2022-10-01 2023-09-30 05149074 d:PlantMachinery 2023-09-30 05149074 d:PlantMachinery 2022-09-30 05149074 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05149074 d:FurnitureFittings 2022-10-01 2023-09-30 05149074 d:FurnitureFittings 2023-09-30 05149074 d:FurnitureFittings 2022-09-30 05149074 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05149074 d:OfficeEquipment 2022-10-01 2023-09-30 05149074 d:OfficeEquipment 2023-09-30 05149074 d:OfficeEquipment 2022-09-30 05149074 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05149074 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 05149074 d:CurrentFinancialInstruments 2023-09-30 05149074 d:CurrentFinancialInstruments 2022-09-30 05149074 d:Non-currentFinancialInstruments 2023-09-30 05149074 d:Non-currentFinancialInstruments 2022-09-30 05149074 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 05149074 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 05149074 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 05149074 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 05149074 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 05149074 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-09-30 05149074 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 05149074 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-09-30 05149074 d:ShareCapital 2023-09-30 05149074 d:ShareCapital 2022-09-30 05149074 d:RetainedEarningsAccumulatedLosses 2023-09-30 05149074 d:RetainedEarningsAccumulatedLosses 2022-09-30 05149074 c:FRS102 2022-10-01 2023-09-30 05149074 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 05149074 c:FullAccounts 2022-10-01 2023-09-30 05149074 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 05149074 d:Subsidiary1 2022-10-01 2023-09-30 05149074 d:Subsidiary1 1 2022-10-01 2023-09-30 05149074 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 05149074 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 05149074 d:RetirementBenefitObligationsDeferredTax 2023-09-30 05149074 d:RetirementBenefitObligationsDeferredTax 2022-09-30 05149074 6 2022-10-01 2023-09-30 05149074 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 05149074










HAWTHORNS CARS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
HAWTHORNS CARS LIMITED
REGISTERED NUMBER: 05149074

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,548
3,507

Investments
 5 
4
4

  
1,552
3,511

Current assets
  

Stocks
 6 
350,035
598,137

Debtors: amounts falling due within one year
 7 
148,028
159,189

Cash at bank and in hand
  
519
19

  
498,582
757,345

Creditors: amounts falling due within one year
 8 
(293,103)
(320,136)

Net current assets
  
 
 
205,479
 
 
437,209

Total assets less current liabilities
  
207,031
440,720

Creditors: amounts falling due after more than one year
 9 
(720,858)
(731,040)

Provisions for liabilities
  

Deferred tax
 11 
(219)
(826)

  
 
 
(219)
 
 
(826)

Net liabilities
  
(514,046)
(291,146)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(514,146)
(291,246)

  
(514,046)
(291,146)


Page 1

 
HAWTHORNS CARS LIMITED
REGISTERED NUMBER: 05149074
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 2023

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 on 31 January 2025.




J Sproule
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HAWTHORNS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Hawthorns Cars Limited (05149074), is a private company limited by shares. It is incorporated in England & Wales. The registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT, United Kingdom. 

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

Going concern

The company made lossses in the year and as a result has net libilites of £514,046 (2022 £291,146) at the year end. The directors have confirmed their support for the next twelve months and have therefore prepared the accounts on the going concern basis.   

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

Page 3

 
HAWTHORNS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
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.

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:

Plant & machinery
-
25% straight line
Fixtures & fittings
-
25% straight line
Office equipment
-
33% straight line

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of
Page 4

 
HAWTHORNS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Borrowing costs

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

Page 5

 
HAWTHORNS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

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 reporting 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 reporting 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 reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 6

 
HAWTHORNS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2022
841
1,842
18,821
21,504


Additions
-
-
217
217



At 30 September 2023

841
1,842
19,038
21,721



Depreciation


At 1 October 2022
841
1,842
15,314
17,997


Charge for the year on owned assets
-
-
2,176
2,176



At 30 September 2023

841
1,842
17,490
20,173



Net book value



At 30 September 2023
-
-
1,548
1,548



At 30 September 2022
-
-
3,507
3,507


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2022
4



At 30 September 2023
4




Page 7

 
HAWTHORNS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

Subsidiary undertaking


The following was a subsidiary undertaking of the company:

Name

Registered office

Class of shares

Holding

Hawthorns Engineering Limited
England & Wales
Ordinary
100%


6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
350,035
598,137

350,035
598,137



7.


Debtors

2023
2022
£
£


Trade debtors
2,662
1,999

Other debtors
145,336
139,872

Prepayments and accrued income
30
17,318

148,028
159,189



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
30,921
103,162

Bank loans
10,182
10,018

Trade creditors
27,160
75,253

Amounts owed to group undertakings
77,174
56,960

Corporation tax
14,139
12,256

Other taxation and social security
12,545
21,451

Other creditors
115,482
35,536

Accruals and deferred income
5,500
5,500

293,103
320,136


Page 8

 
HAWTHORNS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,858
31,040

Other creditors
700,000
700,000

720,858
731,040



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,182
10,018


10,182
10,018

Amounts falling due 1-2 years

Bank loans
10,347
10,182


10,347
10,182

Amounts falling due 2-5 years

Bank loans
10,511
20,858


10,511
20,858


31,040
41,058


Page 9

 
HAWTHORNS CARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

11.


Deferred taxation




2023


£






At beginning of year
(826)


Charged to profit or loss
607



At end of year
(219)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(387)
(877)

Short term differences
168
51

(219)
(826)


12.


Pension commitments

The company operates 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 £3,169 (2022 - £2,545). Contributions totalling £671 (2022 - £357) were payable to the fund at the balance sheet date and are included in creditors.


13.


Transactions with directors

At the year end Mr J Sproule owed to the company £105,607 (2022 - £100,026) and Mr J Smith owed the company £4,550 (2022 £6,550).

 
Page 10