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Registered number: 8899605
Robert Hobbs Taxation Services Ltd
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 8899605
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1 1
Tangible Assets 5 55,545 67,755
55,546 67,756
CURRENT ASSETS
Debtors 6 68,924 35,055
Cash at bank and in hand 102,962 109,341
171,886 144,396
Creditors: Amounts Falling Due Within One Year 7 (57,061 ) (50,401 )
NET CURRENT ASSETS (LIABILITIES) 114,825 93,995
TOTAL ASSETS LESS CURRENT LIABILITIES 170,371 161,751
Creditors: Amounts Falling Due After More Than One Year 8 (41,417 ) (59,378 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,231 ) (2,726 )
NET ASSETS 126,723 99,647
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 126,623 99,547
SHAREHOLDERS' FUNDS 126,723 99,647
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Hobbs
Director
10/04/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Robert Hobbs Taxation Services Ltd Registered number 8899605 is a limited by shares company incorporated in England & Wales. The Registered Office is The Laurels, Talygarn, Pontyclun, CF72 9JT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the invoiced value of services supplied by the company, net of Value Added Tax.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight Line
Motor Vehicles 15% Straight Line
Computer Equipment 20% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.6. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2025 2024
Office and administration 2 2
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 75,000
As at 31 March 2025 75,000
Amortisation
As at 1 April 2024 74,999
As at 31 March 2025 74,999
Net Book Value
As at 31 March 2025 1
As at 1 April 2024 1
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5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 8,477 89,831 10,305 108,613
Additions - - 250 250
Disposals (4,734 ) - (4,022 ) (8,756 )
As at 31 March 2025 3,743 89,831 6,533 100,107
Depreciation
As at 1 April 2024 8,476 23,966 8,416 40,858
Provided during the period - 10,400 2,061 12,461
Disposals (4,735 ) - (4,022 ) (8,757 )
As at 31 March 2025 3,741 34,366 6,455 44,562
Net Book Value
As at 31 March 2025 2 55,465 78 55,545
As at 1 April 2024 1 65,865 1,889 67,755
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 21,060 8,640
Prepayments and accrued income 2,906 1,461
Director's loan account 44,958 24,954
68,924 35,055
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 11,004 9,985
Trade creditors 10 1,039
Bank loans and overdrafts 6,957 6,786
Corporation tax 28,306 22,706
Other taxes and social security 818 773
VAT 9,966 9,112
57,061 50,401
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8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 40,240 51,244
Bank loans 1,177 8,134
41,417 59,378
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,004 9,985
Later than one year and not later than five years 40,240 51,244
51,244 61,229
51,244 61,229
10. Share Capital
2025 2024
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr Robert Hobbs 24,954 45,778 24,954 - 45,778
The above loan is unsecured and repayable on demand.
Dividends paid to directors
2025 2024
£ £
Mr Robert Hobbs 32,000 30,000
12. Dividends
2025 2024
£ £
On equity shares:
Interim dividend paid 64,000 60,000
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13. Ultimate Controlling Party
The company's ultimate controlling parties are Mr R J and Mrs C D Hobbs by virtue of their ownership of 100% of the issued share capital in the company.
Page 7