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Company registration number: 07630414
Hadfield Consultants Limited
Unaudited filleted financial statements
30 April 2024
Hadfield Consultants Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Hadfield Consultants Limited
Directors and other information
Directors Mr. Richard Hadfield
Ms Jane Gallagher
Company number 07630414
Registered office 156 Campbell Road
Oxford
OX4 3NR
Accountants Hicks and Company
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Hadfield Consultants Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Hadfield Consultants Limited
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hadfield Consultants Limited for the year ended 30 April 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Hadfield Consultants Limited, as a body, in accordance with the terms of our engagement letter dated 13 January 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Hadfield Consultants Limited and state those matters that we have agreed to state to the board of directors of Hadfield Consultants Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hadfield Consultants Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Hadfield Consultants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hadfield Consultants Limited. You consider that Hadfield Consultants Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hadfield Consultants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
30 January 2025
Hadfield Consultants Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 4,253 5,670
_______ _______
4,253 5,670
Current assets
Debtors 6 1,500 -
Cash at bank and in hand 59,030 54,683
_______ _______
60,530 54,683
Creditors: amounts falling due
within one year 7 ( 38,526) ( 36,672)
_______ _______
Net current assets 22,004 18,011
_______ _______
Total assets less current liabilities 26,257 23,681
_______ _______
Net assets 26,257 23,681
_______ _______
Capital and reserves
Called up share capital 3 3
Profit and loss account 26,254 23,678
_______ _______
Shareholders funds 26,257 23,681
_______ _______
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 January 2025 , and are signed on behalf of the board by:
Mr. Richard Hadfield
Director
Company registration number: 07630414
Hadfield Consultants Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 156 Campbell Road, Oxford, OX4 3NR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, including Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Computer and office equipment Total
£ £
Cost
At 1 May 2023 and 30 April 2024 10,881 10,881
_______ _______
Depreciation
At 1 May 2023 5,211 5,211
Charge for the year 1,417 1,417
_______ _______
At 30 April 2024 6,628 6,628
_______ _______
Carrying amount
At 30 April 2024 4,253 4,253
_______ _______
At 30 April 2023 5,670 5,670
_______ _______
6. Debtors
2024 2023
£ £
Other debtors 1,500 -
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 18,111 15,070
Social security and other taxes 8,058 10,866
Other creditors 12,357 10,736
_______ _______
38,526 36,672
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr. Richard Hadfield ( 278) 278 -
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr. Richard Hadfield ( 6,432) 6,154 ( 278)
_______ _______ _______