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COMPANY REGISTRATION NUMBER: 12484968
Hickens Utility Services Limited
Filleted Unaudited Financial Statements
29 February 2024
Hickens Utility Services Limited
Financial Statements
Year Ended 29th February 2024
Contents
Page
Statement of Financial Position
1
Notes to the Financial Statements
3
Hickens Utility Services Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed Assets
Intangible assets
5
2,400
4,800
Tangible assets
6
37,224
50,173
--------
--------
39,624
54,973
Current Assets
Debtors
7
293,562
135,987
Cash at bank and in hand
41,931
56,512
---------
---------
335,493
192,499
Creditors: amounts falling due within one year
8
142,486
94,109
---------
---------
Net Current Assets
193,007
98,390
---------
---------
Total Assets Less Current Liabilities
232,631
153,363
Creditors: amounts falling due after more than one year
9
27,368
46,198
Provisions
Taxation including deferred tax
9,306
12,543
---------
---------
Net Assets
195,957
94,622
---------
---------
Capital and Reserves
Called up share capital
1
1
Profit and loss account
195,956
94,621
---------
--------
Shareholder Funds
195,957
94,622
---------
--------
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.
For the year ending 29th February 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 member has 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hickens Utility Services Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 3 March 2025 , and are signed on behalf of the board by:
S Hickens
Director
Company registration number: 12484968
Hickens Utility Services Limited
Notes to the Financial Statements
Year Ended 29th February 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 Unit 10, Silver End Business Park, Brettell Lane, Brierley Hill, West Midlands, DY5 3LG.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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
Motor vehicles
-
25% reducing balance
Computer equipment
-
33% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible Assets
Goodwill
£
Cost
At 1st March 2023 and 29th February 2024
12,000
--------
Amortisation
At 1st March 2023
7,200
Charge for the year
2,400
--------
At 29th February 2024
9,600
--------
Carrying amount
At 29th February 2024
2,400
--------
At 28th February 2023
4,800
--------
6. Tangible Assets
Plant and machinery
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 1st March 2023 and 29th February 2024
71,700
24,995
2,928
99,623
--------
--------
-------
--------
Depreciation
At 1st March 2023
36,389
10,936
2,125
49,450
Charge for the year
8,828
3,515
606
12,949
--------
--------
-------
--------
At 29th February 2024
45,217
14,451
2,731
62,399
--------
--------
-------
--------
Carrying amount
At 29th February 2024
26,483
10,544
197
37,224
--------
--------
-------
--------
At 28th February 2023
35,311
14,059
803
50,173
--------
--------
-------
--------
7. Debtors
2024
2023
£
£
Trade debtors
161,385
68,317
Other debtors
132,177
67,670
---------
---------
293,562
135,987
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,066
7,067
Trade creditors
11,631
7,195
Corporation tax
107,792
57,989
Other creditors
15,997
21,858
---------
--------
142,486
94,109
---------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,980
21,986
Other creditors
12,388
24,212
--------
--------
27,368
46,198
--------
--------
10. Deferred Tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
9,306
12,543
-------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
9,306
12,543
-------
--------
11. Director's 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 outstanding
£
£
£
£
S Hickens
( 8,534)
( 30,672)
38,918
( 288)
-------
--------
--------
----
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
S Hickens
( 1,929)
( 88,415)
81,810
( 8,534)
-------
--------
--------
-------
The credits to the director were made on an interest free basis and are repayable on demand.