HUTCHINSON WHITLAM ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Basterfield

REGISTERED OFFICE:

Fairfax House

38 The Grove

Ilkley

West Yorkshire

LS29 9EE

REGISTERED NUMBER:

08128624 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Suite 1.07

International Dev. Centre

Valley Road

Ilkley

West Yorkshire

LS29 8AL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

46,662

2,141

46,662

2,141

CURRENT ASSETS

Debtors

6

139,399

98,746

Cash at bank and in hand

335,673

423,923

475,072

522,669

CREDITORS

Amounts falling due within one year

7

131,898

141,302

NET CURRENT ASSETS

343,174

381,367

TOTAL ASSETS LESS CURRENT LIABILITIES

389,836

383,508

CREDITORS

Amounts falling due after more than one year

8

(25,713

)

-

PROVISIONS FOR LIABILITIES

9

(2,102

)

-

NET ASSETS

362,021

383,508

CAPITAL AND RESERVES

Called up share capital

10

51

101

Capital redemption reserve

11

100

50

Retained earnings

11

361,870

383,357

SHAREHOLDERS' FUNDS

362,021

383,508

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

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

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 November 2024 and were signed by:

M J Basterfield - Director

1.	STATUTORY INFORMATION

Hutchinson Whitlam Associates 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.

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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

33% on cost

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2023

and 31 August 2024

90,000

AMORTISATION

At 1 September 2023

and 31 August 2024

90,000

NET BOOK VALUE

At 31 August 2024

-

At 31 August 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2023

10,908

Additions

46,524

At 31 August 2024

57,432

DEPRECIATION

At 1 September 2023

8,767

Charge for year

2,003

At 31 August 2024

10,770

NET BOOK VALUE

At 31 August 2024

46,662

At 31 August 2023

2,141

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade debtors

126,576

78,363

Deferred tax asset

-

10,768

Prepayments

12,823

9,615

139,399

98,746

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Hire purchase contracts

1,187

-

Trade creditors

11,939

6,619

Corporation tax

58,568

34,579

Social security and other taxes

4,094

2,024

VAT

32,043

23,518

Other creditors

14,442

10,154

Directors' current accounts

5,905

10,833

Accrued expenses

3,720

53,575

131,898

141,302

The directors loan accounts are interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Hire purchase contracts

25,713

-

9.	PROVISIONS FOR LIABILITIES

31.8.24

£

Deferred tax

Accelerated capital allowances

(9,344

)

Deferred tax

11,446

2,102

Deferred

tax

£

Balance at 1 September 2023

(10,768

)

Charge to Income Statement during year

12,870

Balance at 31 August 2024

2,102

The deferred tax provision at the year end is wholly attributable to accelerated capital allowances.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.24

31.8.23

value:

£

£

101

Ordinary

1

51

101

11.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 September 2023

383,357

50

383,407

Profit for the year

221,867

221,867

Dividends

(92,604

)

(92,604

)

Purchase of own shares

(150,750

)

50

(150,700

)

At 31 August 2024

361,870

100

361,970