Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01928924 2023-04-01 2024-03-31 01928924 2022-04-01 2023-03-31 01928924 2024-03-31 01928924 2023-03-31 01928924 c:Director1 2023-04-01 2024-03-31 01928924 d:PlantMachinery 2023-04-01 2024-03-31 01928924 d:FurnitureFittings 2024-03-31 01928924 d:FurnitureFittings 2023-03-31 01928924 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01928924 d:FreeholdInvestmentProperty 2024-03-31 01928924 d:FreeholdInvestmentProperty 2023-03-31 01928924 d:CurrentFinancialInstruments 2024-03-31 01928924 d:CurrentFinancialInstruments 2023-03-31 01928924 d:Non-currentFinancialInstruments 2024-03-31 01928924 d:Non-currentFinancialInstruments 2023-03-31 01928924 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01928924 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01928924 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01928924 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01928924 d:ShareCapital 2024-03-31 01928924 d:ShareCapital 2023-03-31 01928924 d:RevaluationReserve 2023-04-01 2024-03-31 01928924 d:RevaluationReserve 2024-03-31 01928924 d:RevaluationReserve 2023-03-31 01928924 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 01928924 d:RetainedEarningsAccumulatedLosses 2024-03-31 01928924 d:RetainedEarningsAccumulatedLosses 2023-03-31 01928924 c:FRS102 2023-04-01 2024-03-31 01928924 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01928924 c:FullAccounts 2023-04-01 2024-03-31 01928924 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01928924 d:OtherDeferredTax 2024-03-31 01928924 d:OtherDeferredTax 2023-03-31 01928924 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 01928924









HAUSMAN HUGHES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
HAUSMAN HUGHES LIMITED
REGISTERED NUMBER: 01928924

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
2,251

Investment property
 5 
10,785,000
10,785,000

  
10,785,000
10,787,251

Current assets
  

Stocks
  
3,295,683
3,198,109

Debtors: amounts falling due within one year
 6 
2,348
28,382

Cash at bank and in hand
  
153,712
40,665

  
3,451,743
3,267,156

Creditors: amounts falling due within one year
 7 
(506,717)
(67,328)

Net current assets
  
 
 
2,945,026
 
 
3,199,828

Total assets less current liabilities
  
13,730,026
13,987,079

Creditors: amounts falling due after more than one year
 8 
(5,698,048)
(5,939,609)

Provisions for liabilities
  

Deferred tax
 9 
(1,863,756)
(1,865,336)

  
 
 
(1,863,756)
 
 
(1,865,336)

Net assets
  
6,168,222
6,182,134


Capital and reserves
  

Called up share capital 
  
100
100

Other reserve
 10 
5,594,525
5,594,525

Profit and loss account
 10 
573,597
587,509

  
6,168,222
6,182,134

Page 1

 
HAUSMAN HUGHES LIMITED
REGISTERED NUMBER: 01928924
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2025.






R L Hughes
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
HAUSMAN HUGHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Hausman Hughres Limited is a private company limited by shares and incorporated in England and Wales.  Its registered office is 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

  
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable.
 The following criteria must also be met before revenue is recognised:

Sale of Properties
Revenue from the sale of properties is recognised when all of the following conditions are satisfied:
• the Company has transferred the significant risks and rewards of ownership to the buyer;
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the monies due under the transaction; and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Receipt of rent or other income from property
Revenue from the letting of property and related receipts is recognised in the period for which the rent covers when the following conditions are satisfied:
• the amount of revenue can be measured reliably;
• it is probable that the Company will receive the amounts due under the agreement.

  
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income as received.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HAUSMAN HUGHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
HAUSMAN HUGHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Stock and work in progress

Stocks and work in progress of properties to develop are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase and development cost incurred thereafter.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.11

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.12

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured at amounts owed to the banks.

Page 5

 
HAUSMAN HUGHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.
 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 April 2023
12,001



At 31 March 2024

12,001



Depreciation


At 1 April 2023
9,750


Charge for the year on owned assets
2,251



At 31 March 2024

12,001



Net book value



At 31 March 2024
-



At 31 March 2023
2,251

Page 6

 
HAUSMAN HUGHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
10,785,000



At 31 March 2024
10,785,000

The 2024 valuations were made by the director, on an open market value for existing use basis.






Page 7

 
HAUSMAN HUGHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Other debtors
2,348
28,382

2,348
28,382



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
420,648
10,648

Trade creditors
32,568
-

Corporation tax
18,300
24,419

Other taxation and social security
1,607
1,607

Other creditors
30,594
27,654

Accruals and deferred income
3,000
3,000

506,717
67,328


Page 8

 
HAUSMAN HUGHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,303,469
5,721,724

Other loans
394,579
217,885

5,698,048
5,939,609


Secured Loans
The company's principal lender is Svenska Handelsbanken AB. Details of the terms of their loans are as follows:
Svenska Handelsbanken AB has a legal charge over 143 Chatham Road, 56 Webbs Road, 1-10 The Greenway Building at 3 Clarence Lane. Interest is charged at normal commercial rates being 2.75% pa over LIBOR.
The company’s loans with Svenska Handelsbanken AB were renegotiated after the yearend and £3.89m were then repayable after more than one year with £410k within one year which is reflected in this year's accounts. Following sales in the year after these accounts these loans were then partly repaid. 
The company received a government Bounce Back loan of £50,000 repayable by instalments with £10,648 repayable within 1 year.
 


9.


Deferred taxation




2024


£






At beginning of year
(1,865,336)


Charged to profit or loss
1,580



At end of year
(1,863,756)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Investment property revaluation
(1,863,756)
(1,865,336)

(1,863,756)
(1,865,336)

The UK main rate of corporation tax increased to 25% from 19% on 1.4.2023. 

Page 9

 
HAUSMAN HUGHES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Reserves

Other reserve

This represents the revaluation of investment properties net of deferred tax provision.

Profit & loss account

The balance in the profit and loss account represents distributable reserves


11.


Pension commitments

The Company operates a defined contributions (auto-enrolment) pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost represents contributions payable by the Company to the fund and amounted to £Nil (2023 - £457). No contributions were payable to the fund at the balance sheet date.

 
Page 10