STEPHEN HODGE ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2024
Company Registration Number: 05164154
STEPHEN HODGE ASSOCIATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
STEPHEN HODGE ASSOCIATES LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024
DIRECTORS
S A Hodge
A Hodge
SECRETARY
S A Hodge
REGISTERED OFFICE
4 Witan Way
Witney
Oxon
OX28 6FF
COMPANY REGISTRATION NUMBER
05164154 England and Wales
STEPHEN HODGE ASSOCIATES LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 6 1,433 1,604
CURRENT ASSETS
Debtors 7 8,387 10,557
Cash at bank and in hand 63,924 103,989
72,311 114,546
CREDITORS: Amounts falling due within one year 8 53,247 95,427
NET CURRENT ASSETS 19,064 19,119
TOTAL ASSETS LESS CURRENT LIABILITIES 20,497 20,723
Provisions for liabilities and charges 357 400
NET ASSETS 20,140 20,323
CAPITAL AND RESERVES
Called up share capital 1 1
Distributable profit and loss account 20,139 20,322
SHAREHOLDERS' FUNDS 20,140 20,323
STEPHEN HODGE ASSOCIATES LIMITED
BALANCE SHEET
AS AT 31 JULY 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
S A Hodge A Hodge
Director Director
Date approved by the board: 27 April 2025
STEPHEN HODGE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
1 GENERAL INFORMATION
Stephen Hodge Associates Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
4 Witan Way
Witney
Oxon
OX28 6FF
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of chartered surveyor services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Intangible fixed assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be ten years.
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 expectations.
STEPHEN HODGE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Fixtures and fittings Straight line basis at 25% per annum
Computer equipment Straight line basis at 33% per annum
Website development Straight line basis at 33% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
STEPHEN HODGE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
STEPHEN HODGE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 2 2
5 INTANGIBLE FIXED ASSETS
Goodwill
£
Cost
At 1 August 2023 45,000
At 31 July 2024 45,000
Accumulated amortisation and impairments
At 1 August 2023 45,000
At 31 July 2024 45,000
Net book value
At 1 August 2023 -
At 31 July 2024 -
Goodwill relates to the acquisition of a business purchased in 2004 and was amortised over its useful estimated economic life of ten years.
STEPHEN HODGE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
6 TANGIBLE ASSETS
Fixtures and fittings Computer equipment Website development Total
£ £ £ £
Cost
At 1 August 2023 2,180 6,444 7,250 15,874
Additions - 1,056 - 1,056
At 31 July 2024 2,180 7,500 7,250 16,930
Accumulated depreciation and impairments
At 1 August 2023 1,898 5,122 7,250 14,270
Charge for year 145 1,082 - 1,227
At 31 July 2024 2,043 6,204 7,250 15,497
Net book value
At 1 August 2023 282 1,322 - 1,604
At 31 July 2024 137 1,296 - 1,433
7 DEBTORS
2024 2023
£ £
Trade debtors 7,383 7,656
Prepayments and accrued income 1,004 817
Other debtors - 2,084
8,387 10,557
8 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Trade creditors 582 741
Taxation and social security 25,922 30,202
Accruals and deferred income 7,010 10,053
Other creditors 19,733 54,431
53,247 95,427
STEPHEN HODGE ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
9 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
S A & Mrs A Hodge
Directors 2024 2023
£ £
Advances to company The directors have made advances to the company which are repayable on demand. Interest has been charged on these advances. At the year end, the company owed the directors the following amount: 18,270 51,197
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