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Company registration number: 09048723
Hawkefield Limited
Unaudited filleted abridged financial statements
31 May 2024
Hawkefield Limited
Contents
Directors and other information
Accountant's report
Abridged statement of financial position
Notes to the financial statements
Hawkefield Limited
Directors and other information
Director Mr Howard Butterfield
Secretary Alan James
Company number 09048723
Registered office Oldstone House
Camel Street
Marston Magna, Yeovil
Somerset
BA22 8DB
Business address Oldstone House
Camel Street
Marston Magna,Yeovil
Somerset
BA22 8DB
Accountant Alan James & Associates
1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
Hawkefield Limited
Chartered accountant's report to the director on the preparation of the
unaudited statutory financial statements of Hawkefield Limited
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Hawkefield Limited for the year ended 31 May 2024 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am 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 director of Hawkefield Limited, as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of Hawkefield Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than Hawkefield Limited and its director as a body for my work or for this report.
It is your duty to ensure that Hawkefield 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 Hawkefield Limited. You consider that Hawkefield Limited is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Hawkefield Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Alan James & Associates
Chartered Accountants
1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
21 February 2025
Hawkefield Limited
Abridged statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 7,576 9,560
_______ _______
7,576 9,560
Current assets
Debtors 240 1,306
Cash at bank and in hand 1,379 4,950
_______ _______
1,619 6,256
Creditors: amounts falling due
within one year ( 72,474) ( 86,716)
_______ _______
Net current liabilities ( 70,855) ( 80,460)
_______ _______
Total assets less current liabilities ( 63,279) ( 70,900)
_______ _______
Net liabilities ( 63,279) ( 70,900)
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account ( 63,289) ( 70,910)
_______ _______
Shareholders deficit ( 63,279) ( 70,900)
_______ _______
For the 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.
Director's 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 director acknowledges 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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 21 February 2025 , and are signed on behalf of the board by:
Mr Howard Butterfield
Director
Company registration number: 09048723
Hawkefield Limited
Notes to the financial statements
Year ended 31 May 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 Oldstone House, Camel Street, Marston Magna, Yeovil, Somerset, BA22 8DB.
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 for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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.
Going Concern
These accounts have been prepared on a going concern basis. This assumes the continual financial support of the Director. He has indicated that he is prepared to support the financial requirements of the company for the foreseeable future.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
£
Cost
At 1 June 2023 22,853
Additions 494
_______
At 31 May 2024 23,347
_______
Depreciation
At 1 June 2023 13,293
Charge for the year 2,478
_______
At 31 May 2024 15,771
_______
Carrying amount
At 31 May 2024 7,576
_______
At 31 May 2023 9,560
_______
6. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Howard Butterfield ( 84,569) ( 6,306) 20,512 ( 70,363)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Howard Butterfield ( 93,318) ( 6,307) 15,056 ( 84,569)
_______ _______ _______ _______