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REGISTERED NUMBER: 02610615 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

SPENCE HARRIS HOGAN LIMITED

SPENCE HARRIS HOGAN LIMITED (REGISTERED NUMBER: 02610615)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPENCE HARRIS HOGAN LIMITED

Company Information
for the year ended 31 May 2024







Directors: G A Harris
N M P Hogan
D J M Spence





Secretary: G A Harris





Registered office: 1 Vencourt Place
Ravenscourt Park
Hammersmith
London
W6 9NU





Registered number: 02610615 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

SPENCE HARRIS HOGAN LIMITED (REGISTERED NUMBER: 02610615)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 110,816 81,289
Investment property 5 357,681 357,681
468,497 438,970

Current assets
Debtors 6 1,718,985 1,446,239
Cash at bank 393,596 895,363
2,112,581 2,341,602
Creditors
Amounts falling due within one year 7 2,064,336 1,925,816
Net current assets 48,245 415,786
Total assets less current liabilities 516,742 854,756

Creditors
Amounts falling due after more than one
year

8

(221,940

)

(281,183

)

Provisions for liabilities - (115 )
Net assets 294,802 573,458

Capital and reserves
Called up share capital 10 200,198 200,198
Share premium 5,269 5,269
Capital redemption reserve 10,538 10,538
Retained earnings 78,797 357,453
Shareholders' funds 294,802 573,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SPENCE HARRIS HOGAN LIMITED (REGISTERED NUMBER: 02610615)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:




G A Harris - Director N M P Hogan - Director




D J M Spence - Director


SPENCE HARRIS HOGAN LIMITED (REGISTERED NUMBER: 02610615)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

Spence Harris Hogan Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis. The directors have considered the relevant information including the annual budget, and in response to Covid-19, have considered the company's available resources and ability to scale back the company's operations as required. The company will be able to continue to operate for the foreseeable future.

Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Preparation of consolidated financial statements
The financial statements contain information about Spence Harris Hogan Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in the recognition of amounts recoverable on contracts. A full line by line review of amounts recoverable on contracts is carried out by management regularly. Whilst every attempt is made to ensure that the provision for amounts recoverable on contracts is as accurate as possible, there remains a risk that the provision, based on an estimate to project completion, does not match the actual stage of completion of a project.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - over the length of the lease
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

SPENCE HARRIS HOGAN LIMITED (REGISTERED NUMBER: 02610615)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. Accounting policies - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company pays contributions into the personal pension schemes of some of the directors. These amounts are charged to profit and loss as they accrue.

3. Employees and directors

The average number of employees during the year was 52 (2023 - 44 ) .

SPENCE HARRIS HOGAN LIMITED (REGISTERED NUMBER: 02610615)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


4. Tangible fixed assets
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 June 2023 121,780 496,723 56,739 206,059 881,301
Additions 63,292 29,172 - - 92,464
At 31 May 2024 185,072 525,895 56,739 206,059 973,765
Depreciation
At 1 June 2023 111,355 427,326 56,739 204,592 800,012
Charge for year 18,353 43,117 - 1,467 62,937
At 31 May 2024 129,708 470,443 56,739 206,059 862,949
Net book value
At 31 May 2024 55,364 55,452 - - 110,816
At 31 May 2023 10,425 69,397 - 1,467 81,289

5. Investment property
Total
£   
Fair value
At 1 June 2023
and 31 May 2024 357,681
Net book value
At 31 May 2024 357,681
At 31 May 2023 357,681

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 1,203,906 932,241
Other debtors 515,079 513,998
1,718,985 1,446,239

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Hire purchase contracts (see note 9) 56,147 60,543
Trade creditors 223,219 169,683
Taxation and social security 348,823 302,612
Other creditors 1,436,147 1,392,978
2,064,336 1,925,816

SPENCE HARRIS HOGAN LIMITED (REGISTERED NUMBER: 02610615)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 212,870 220,683
Hire purchase contracts (see note 9) 9,070 60,500
221,940 281,183

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 169,935 174,992

9. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 56,147 60,543
Between one and five years 9,070 60,500
65,217 121,043

Non-cancellable operating leases
2024 2023
£    £   
Within one year 116,906 116,906
Between one and five years 467,622 467,622
In more than five years 1,071,634 1,071,634
1,656,162 1,656,162

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200,198 Ordinary 1 200,198 200,198

11. Related party disclosures

Other creditors include £40,252 (2023: £21,803) owed to the directors by the company. The loans are interest free and repayable on demand.