Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-31false2023-08-01falsespecialist sealant applicators45truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02356786 2023-08-01 2024-07-31 02356786 2022-08-01 2023-07-31 02356786 2024-07-31 02356786 2023-07-31 02356786 2022-08-01 02356786 c:Director2 2023-08-01 2024-07-31 02356786 d:Buildings 2023-08-01 2024-07-31 02356786 d:Buildings 2024-07-31 02356786 d:Buildings 2023-07-31 02356786 d:Buildings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02356786 d:PlantMachinery 2023-08-01 2024-07-31 02356786 d:PlantMachinery 2024-07-31 02356786 d:PlantMachinery 2023-07-31 02356786 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02356786 d:MotorVehicles 2023-08-01 2024-07-31 02356786 d:MotorVehicles 2024-07-31 02356786 d:MotorVehicles 2023-07-31 02356786 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02356786 d:FurnitureFittings 2023-08-01 2024-07-31 02356786 d:FurnitureFittings 2024-07-31 02356786 d:FurnitureFittings 2023-07-31 02356786 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02356786 d:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 02356786 d:OtherPropertyPlantEquipment 2024-07-31 02356786 d:OtherPropertyPlantEquipment 2023-07-31 02356786 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02356786 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 02356786 d:CurrentFinancialInstruments 2024-07-31 02356786 d:CurrentFinancialInstruments 2023-07-31 02356786 d:Non-currentFinancialInstruments 2024-07-31 02356786 d:Non-currentFinancialInstruments 2023-07-31 02356786 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 02356786 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 02356786 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-31 02356786 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 02356786 d:ShareCapital 2024-07-31 02356786 d:ShareCapital 2023-07-31 02356786 d:RetainedEarningsAccumulatedLosses 2024-07-31 02356786 d:RetainedEarningsAccumulatedLosses 2023-07-31 02356786 c:FRS102 2023-08-01 2024-07-31 02356786 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 02356786 c:FullAccounts 2023-08-01 2024-07-31 02356786 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 02356786 d:AcceleratedTaxDepreciationDeferredTax 2024-07-31 02356786 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 02356786 2 2023-08-01 2024-07-31 02356786 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 02356786









HOOKINGS MASTICS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
HOOKINGS MASTICS LIMITED
REGISTERED NUMBER: 02356786

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
38,059
43,720

Current assets
  

Stocks
 5 
2,000
2,250

Debtors: amounts falling due within one year
 6 
96,300
92,577

Cash at bank and in hand
 7 
454
550

  
98,754
95,377

Creditors: amounts falling due within one year
 8 
(121,967)
(113,147)

Net current liabilities
  
 
 
(23,213)
 
 
(17,770)

Total assets less current liabilities
  
14,846
25,950

Creditors: amounts falling due after more than one year
 9 
(10,833)
(20,833)

Provisions for liabilities
  

Deferred tax
 10 
(2,661)
(3,953)

Net assets
  
1,352
1,164


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,252
1,064

  
1,352
1,164


Page 1

 
HOOKINGS MASTICS LIMITED
REGISTERED NUMBER: 02356786
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

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 statement of comprehensive income 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 8 August 2025.






Mr D Hookings
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HOOKINGS MASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Hookings Mastics Limited is a company limited by shares, incorporated in England, United Kingdom. The address of the registered office is Suite D, The Business Centre, Faringdon Avenue, Romford, Essex, RM3 8EN. The company's principal activity is that of specialist sealant applicators. 

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

Page 3

 
HOOKINGS MASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.


Page 4

 
HOOKINGS MASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

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.

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

Depreciation is provided on the following basis:

Buildings
-
2% Straight line
Plant and machinery
-
15%
Motor vehicles
-
25%
Furniture, fittings and equipment
-
15%
Improvement to building
-
0%

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.

 
2.9

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.  

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
HOOKINGS MASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 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

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

 
2.15

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 4 (2023 -5).

Page 6

 
HOOKINGS MASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Buildings
Plant and machinery
Motor vehicles
Furniture, fittings and equipment
Improvement to building
Total

£
£
£
£
£
£



Cost or valuation


At 1 August 2023
24,750
7,225
84,897
23,529
6,625
147,026


Additions
-
-
-
786
-
786


Disposals
-
-
(27,627)
-
-
(27,627)



At 31 July 2024

24,750
7,225
57,270
24,315
6,625
120,185



Depreciation


At 1 August 2023
3,465
6,567
72,363
20,911
-
103,306


Charge for the year on owned assets
495
99
2,398
510
-
3,502


Disposals
-
-
(24,682)
-
-
(24,682)



At 31 July 2024

3,960
6,666
50,079
21,421
-
82,126



Net book value



At 31 July 2024
20,790
559
7,191
2,894
6,625
38,059



At 31 July 2023
21,285
658
12,534
2,618
6,625
43,720

Page 7

 
HOOKINGS MASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
2,000
2,250



6.


Debtors

2024
2023
£
£


Trade debtors
19,660
13,156

Other debtors
76,477
79,268

Prepayments and accrued income
163
153

96,300
92,577



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
454
550

Less: bank overdrafts
(16,437)
(18,640)

(15,983)
(18,090)



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
16,437
18,640

Bank loans
10,000
10,000

Trade creditors
17,767
15,404

Corporation tax
52,347
42,060

Other taxation and social security
20,981
23,099

Other creditors
419
419

Accruals and deferred income
4,016
3,525

121,967
113,147


Page 8

 
HOOKINGS MASTICS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,833
20,833


The bounce back loan is both interest and repayment free for the first twelve months. After such time the loan is repayable over 5 years at an interest rate of 2.5%


10.


Deferred taxation




2024
2023


£

£






At beginning of year
(3,953)
(3,908)


Released/(charged) to profit or loss
1,292
(45)



At end of year
(2,661)
(3,953)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(2,661)
(3,953)


11.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £1,028 (2023 - £2,490). Contributions totalling £419 (2023 - £419) were payable at the balance sheet date and are included in creditors. 


12.


Transactions with directors

Included within other debtors due within one year is a loan to D Hookings, a director, amounting to £53,194 (2023 - £59,610). Amount repaid within nine months of the year end was £25,000. Interest is charged at the official rate.
 

 
Page 9