Registered number
04756526
Thomas Hitchcock Associates Limited
Filleted Accounts
31 May 2024
Thomas Hitchcock Associates Limited
Registered number: 04756526
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 82,742 54,213
Current assets
Debtors 4 26,045 30,809
Cash at bank and in hand 26,618 68,568
52,663 99,377
Creditors: amounts falling due within one year 5 (72,649) (76,772)
Net current (liabilities)/assets (19,986) 22,605
Total assets less current liabilities 62,756 76,818
Provisions for liabilities (21,927) (1,323)
Net assets 40,829 75,495
Capital and reserves
Called up share capital 100 100
Profit and loss account 40,729 75,395
Shareholders' funds 40,829 75,495
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Hitchcock
Director
Approved by the board on 11 February 2025
Thomas Hitchcock Associates Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery over 4 years reducing balance
Motor vehicles over 4 year straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 18,322 55,990 74,312
Additions 1,358 39,790 41,148
At 31 May 2024 19,680 95,780 115,460
Depreciation
At 1 June 2023 14,500 5,599 20,099
Charge for the year 3,041 9,578 12,619
At 31 May 2024 17,541 15,177 32,718
Net book value
At 31 May 2024 2,139 80,603 82,742
At 31 May 2023 3,822 50,391 54,213
4 Debtors 2024 2023
£ £
Trade debtors 24,936 29,817
Other debtors 1,109 992
26,045 30,809
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 12,448 16,374
Directors' loan account 60,152 59,434
Other creditors 49 964
72,649 76,772
6 Other information
Thomas Hitchcock Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
14 Falklands Road
Alexandra Park
Wroughton
Wiltshire
SN4 0TH
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