Caseware UK (AP4) 2024.0.164 2024.0.164 2025-03-312025-03-312025-05-022024-04-01false1014truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06880757 2024-04-01 2025-03-31 06880757 2023-04-01 2024-03-31 06880757 2025-03-31 06880757 2024-03-31 06880757 c:Director2 2024-04-01 2025-03-31 06880757 d:Buildings d:ShortLeaseholdAssets 2024-04-01 2025-03-31 06880757 d:Buildings d:ShortLeaseholdAssets 2025-03-31 06880757 d:Buildings d:ShortLeaseholdAssets 2024-03-31 06880757 d:FurnitureFittings 2024-04-01 2025-03-31 06880757 d:FurnitureFittings 2025-03-31 06880757 d:FurnitureFittings 2024-03-31 06880757 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 06880757 d:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 06880757 d:CurrentFinancialInstruments 2025-03-31 06880757 d:CurrentFinancialInstruments 2024-03-31 06880757 d:Non-currentFinancialInstruments 2025-03-31 06880757 d:Non-currentFinancialInstruments 2024-03-31 06880757 d:CurrentFinancialInstruments d:WithinOneYear 2025-03-31 06880757 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06880757 d:Non-currentFinancialInstruments d:AfterOneYear 2025-03-31 06880757 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06880757 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2025-03-31 06880757 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 06880757 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2025-03-31 06880757 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 06880757 d:ShareCapital 2025-03-31 06880757 d:ShareCapital 2024-03-31 06880757 d:RetainedEarningsAccumulatedLosses 2025-03-31 06880757 d:RetainedEarningsAccumulatedLosses 2024-03-31 06880757 c:OrdinaryShareClass1 2024-04-01 2025-03-31 06880757 c:OrdinaryShareClass1 2025-03-31 06880757 c:OrdinaryShareClass1 2024-03-31 06880757 c:OrdinaryShareClass2 2024-04-01 2025-03-31 06880757 c:OrdinaryShareClass2 2025-03-31 06880757 c:OrdinaryShareClass2 2024-03-31 06880757 c:OrdinaryShareClass3 2024-04-01 2025-03-31 06880757 c:OrdinaryShareClass3 2025-03-31 06880757 c:OrdinaryShareClass3 2024-03-31 06880757 c:OrdinaryShareClass4 2024-04-01 2025-03-31 06880757 c:OrdinaryShareClass4 2025-03-31 06880757 c:OrdinaryShareClass4 2024-03-31 06880757 c:FRS102 2024-04-01 2025-03-31 06880757 c:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 06880757 c:FullAccounts 2024-04-01 2025-03-31 06880757 c:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06880757 d:WithinOneYear 2025-03-31 06880757 d:WithinOneYear 2024-03-31 06880757 d:BetweenOneFiveYears 2025-03-31 06880757 d:BetweenOneFiveYears 2024-03-31 06880757 d:MoreThanFiveYears 2025-03-31 06880757 d:MoreThanFiveYears 2024-03-31 06880757 d:AcceleratedTaxDepreciationDeferredTax 2025-03-31 06880757 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 06880757 2 2024-04-01 2025-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06880757














HCF PARTNERSHIP LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

 
HCF PARTNERSHIP LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 10


 
HCF PARTNERSHIP LIMITED
REGISTERED NUMBER:06880757

BALANCE SHEET
AS AT 31 MARCH 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,476
44,120

Current assets
  

Debtors
 5 
3,524,067
3,017,790

Cash at bank and in hand
 6 
199,052
62,520

  
3,723,119
3,080,310

Creditors: amounts falling due within one year
 7 
(3,292,446)
(2,907,852)

Net current assets
  
 
 
430,673
 
 
172,458

Total assets less current liabilities
  
452,149
216,578

Creditors: amounts falling due after more than one year
 8 
(180,719)
(105,620)

Provisions for liabilities
  

Deferred tax
 10 
(5,667)
(8,792)

  
 
 
(5,667)
 
 
(8,792)

Net assets
  
265,763
102,166


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
265,663
102,066

  
265,763
102,166


1

 
HCF PARTNERSHIP LIMITED
REGISTERED NUMBER:06880757
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025

The directors consider 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 directors acknowledge their 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 profit and loss account 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 2 May 2025.




................................................
K Simmonds
Director

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

2

 
HCF PARTNERSHIP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1.


General information

HCF Partnership Limited is a private company, limited by shares, incorporated in England and Wales, registration number 06880757. The registered office changed from 1st Floor, 3 Orient Centre, Greycaine Road, Watford Hertfordshire, WD24 7GP to Ground Floor, 8 Beaumont Gate, Shenley Hill, Radlett, WD7 7AR on 19 August 2024
The principal activity of the company continues to be the provision of financial services.

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 Section 1A of 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, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

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.

3

 
HCF PARTNERSHIP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

S/Term Leasehold Property
-
10%
over the perod of the lease
Fixtures and fittings
-
20%
reducing balance

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.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

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.

4

 
HCF PARTNERSHIP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.10

  Operating leases: the company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.11

  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.

 
2.12

  Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

  Borrowing costs

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

 
2.14

  Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

5

 
HCF PARTNERSHIP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

 
2.15

  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 corporation 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2024 - 14).

6

 
HCF PARTNERSHIP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

4.


Tangible fixed assets





S/Term Leasehold Property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2024
20,873
106,437
127,310


Additions
-
646
646


Disposals
(20,873)
(39,663)
(60,536)



At 31 March 2025

-
67,420
67,420



Depreciation


At 1 April 2024
10,436
72,754
83,190


Charge for the year on owned assets
2,087
6,885
8,972


Disposals
(12,523)
(33,695)
(46,218)



At 31 March 2025

-
45,944
45,944



Net book value



At 31 March 2025
-
21,476
21,476



At 31 March 2024
10,437
33,683
44,120


5.


Debtors

2025
2024
£
£



Amounts owed by group undertakings
3,502,971
2,979,928

Other debtors
3,694
3,694

Prepayments and accrued income
17,402
34,168

3,524,067
3,017,790



6.


Cash and cash equivalents

2025
2024
£
£

Cash at bank and in hand
199,052
62,520


7

 
HCF PARTNERSHIP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

7.


Creditors: Amounts falling due within one year

2025
2024
£
£

Bank loans
67,874
84,863

Other loans
66,286
20,195

Amounts owed to group undertakings
2,889,031
2,634,526

Corporation tax
127,565
55,270

Other taxation and social security
5,349
7,872

Other creditors
416
1,897

Accruals and deferred income
135,925
103,229

3,292,446
2,907,852


Included in creditors due within one year is a COVID Business Interruption Loan and a Recovery Scheme Loan, both 80% guaranteed by the government totalling £67,874 (2024 - £84,863).



8.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Bank loans
37,747
105,620

Other loans
142,972
-

180,719
105,620


Included in creditors due after one year is a COVID Business Interruption Loan and a Recovery Scheme Loan, both 80% guaranteed by the government totalling £37,747 (2024 - £105,620).


8

 
HCF PARTNERSHIP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

9.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Bank loans
67,874
84,863

Other loans
66,286
20,195


134,160
105,058

Amounts falling due 1-2 years

Bank loans
21,839
67,772

Other loans
95,314
-


117,153
67,772

Amounts falling due 2-5 years

Bank loans
15,908
37,848

Other loans
47,658
-


63,566
37,848


314,879
210,678



10.


Deferred taxation




2025


£






At beginning of year
(8,792)


Charged to profit or loss
3,125



At end of year
(5,667)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Accelerated capital allowances
(5,667)
(8,792)

9

 
HCF PARTNERSHIP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

11.


Share capital

2025
2024
£
£
Allotted, called up and fully paid



40 (2024 - 40) Ordinary 'A1' shares of £1.00 each
40
40
10 (2024 - 10) Ordinary 'A2' shares of £1.00 each
10
10
40 (2024 - 40) Ordinary 'B1' shares of £1.00 each
40
40
10 (2024 - 10) Ordinary 'B2' shares of £1.00 each
10
10

100

100



12.


Commitments under operating leases

At 31 March 2025 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2025
2024
£
£


Not later than 1 year
26,000
50,328

Later than 1 year and not later than 5 years
112,500
201,312

Later than 5 years
-
89,105

138,500
340,745


13.


Related party transactions

As at 31 March 2025, amounts owed by the company to the directors total £416 (2024 - £416). The loan is interest free and repayable on demand.

As at 31 March 2025, amounts owed by the company for an unsecured loan from a shareholder total £209,258 (2024 - £Nil). The loan bears an annual average interest rate published by the Bank of England plus a margin of 2.68% and it is repayable over 5 years. 
No disclosure has been made of transactions with other wholly owned group companies in accordance with FRS 102 Section 1A paragraph 1AC.35. 

 
10