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Registration number: 3366819

Hogarth Business Services Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2024

 

Hogarth Business Services Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Independent Auditor's Report

4 to 6

Abridged Profit and Loss Account

7

Statement of Comprehensive Income

8

Abridged Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Unaudited Abridged Financial Statements

11 to 15

 

Hogarth Business Services Ltd

Company Information

Directors

Mr Gareth Edwin SMITH

Mr Howard Buchanan-Smith

Company secretary

Miss Lara Johnson-Smith

Registered office

65 Victoria Road
Polegate
East Sussex
BN26 6BY

Accountants

Mr Howard Buchanan-Smith
65 Victoria Road
Polegate
East Sussex
BN26 6BY

 

Hogarth Business Services Ltd

Directors' Report for the Year Ended 31 May 2024

The directors present their report and the abridged financial statements for the year ended 31 May 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Gareth Edwin SMITH

Mr Howard Buchanan-Smith

Principal activity

The principal activity of the company is COMPUTERISED BOOK-KEEPING AND ACCOUNTANCY, TAXATION AND SECRETARIAL SERVICES.

Going concern

No Going Concern Issues.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 7 February 2025 and signed on its behalf by:
 

.........................................
Mr Howard Buchanan-Smith
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hogarth Business Services Ltd
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hogarth Business Services Ltd for the year ended 31 May 2024 as set out on pages 7 to 15 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/regulation.

This report is made solely to the Board of Directors of Hogarth Business Services Ltd, as a body, in accordance with the terms of our engagement letter dated 1 June 2019. Our work has been undertaken solely to prepare for your approval the accounts of Hogarth Business Services Ltd and state those matters that we have agreed to state to the Board of Directors of Hogarth Business Services Ltd, 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 Hogarth Business Services Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hogarth Business Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Hogarth Business Services Ltd. You consider that Hogarth Business Services Ltd 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 accounts of Hogarth Business Services Ltd. 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 accounts.

......................................

Mr Howard Buchanan-Smith
65 Victoria Road
Polegate
East Sussex
BN26 6BY

7 February 2025

 

Hogarth Business Services Ltd

Independent Auditor's Report to the Members of Hogarth Business Services Ltd

Opinion

We have audited the financial statements of Hogarth Business Services Ltd (the 'company') for the year ended 31 May 2024, which comprise the Abridged Profit and Loss Account, Statement of Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity, and Notes to the Unaudited Abridged Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its loss for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Hogarth Business Services Ltd

Independent Auditor's Report to the Members of Hogarth Business Services Ltd

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the [set out on page ], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

 

Hogarth Business Services Ltd

Independent Auditor's Report to the Members of Hogarth Business Services Ltd

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Mr H Smith (Senior Statutory Auditor)
For and on behalf of , Statutory Auditor

7 February 2025

 

Hogarth Business Services Ltd

Abridged Profit and Loss Account for the Year Ended 31 May 2024

Note

2024
£

2023
£

Gross profit

 

58,472

48,206

Administrative expenses

 

(60,490)

(56,732)

Other interest receivable and similar income

 

49

20

Loss before tax

(1,969)

(8,506)

Loss for the financial year

 

(1,969)

(8,506)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Hogarth Business Services Ltd

Statement of Comprehensive Income for the Year Ended 31 May 2024

2024
£

2023
£

Loss for the year

(1,969)

(8,506)

Total comprehensive income for the year

(1,969)

(8,506)

 

Hogarth Business Services Ltd

(Registration number: 3366819)
Abridged Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

6,447

8,443

Cash at bank and in hand

 

11,863

24,154

 

18,310

32,597

Creditors: Amounts falling due within one year

(32,904)

(45,223)

Net liabilities

 

(14,594)

(12,626)

Capital and reserves

 

Called up share capital

5

500

500

Retained earnings

(15,094)

(13,126)

Shareholders' deficit

 

(14,594)

(12,626)

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 7 February 2025 and signed on its behalf by:
 

.........................................

Mr Howard Buchanan-Smith

Director

 

Hogarth Business Services Ltd

Statement of Changes in Equity for the Year Ended 31 May 2024

Share capital
£

Retained earnings
£

Total
£

At 1 June 2023

500

(13,125)

(12,625)

Loss for the year

-

(1,969)

(1,969)

At 31 May 2024

500

(15,094)

(14,594)

Share capital
£

Retained earnings
£

Total
£

At 1 June 2022

500

(4,620)

(4,120)

Loss for the year

-

(8,506)

(8,506)

At 31 May 2023

500

(13,126)

(12,626)

 

Hogarth Business Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
65 Victoria Road
Polegate
East Sussex
BN26 6BY
United Kingdom

These financial statements were authorised for issue by the Board on 7 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Depreciation

Asset class

Depreciation method and rate

Office Equipment

Reducing Balance @ 20%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Hogarth Business Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

500

500

500

500

       

6

Related party transactions

 

Hogarth Business Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

32,100

27,750

7

Transition to FRS 102

Balance Sheet at 1 June 2022
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Hogarth Business Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Balance Sheet at 31 May 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Hogarth Business Services Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2024

Profit and Loss Account for the year ended 31 May 2023
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

-

-

-

-

Operating profit/(loss)

-

-

-

-

Profit/(loss) before tax

-

-

-

-

Profit/(loss) for the financial year

-

-

-

-