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Registered number: 10720416
Hippey Accountancy Services Limited
Financial Statements
For The Year Ended 31 March 2026
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10720416
2026 2025
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 8,687 7,698
Tangible Assets 5 7,333 9,770
16,020 17,468
CURRENT ASSETS
Debtors 6 4,672 9,570
Cash at bank and in hand 8,226 3,974
12,898 13,544
Creditors: Amounts Falling Due Within One Year 7 (28,099 ) (29,545 )
NET CURRENT ASSETS (LIABILITIES) (15,201 ) (16,001 )
TOTAL ASSETS LESS CURRENT LIABILITIES 819 1,467
Creditors: Amounts Falling Due After More Than One Year 8 - (992 )
NET ASSETS 819 475
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 719 375
SHAREHOLDERS' FUNDS 819 475
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For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mrs Michaela Hippey
Director
5th November 2026
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Hippey Accountancy Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10720416 . The registered office is 13 Swanwick Walk, Broughton, Milton Keynes, MK10 9LJ.
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 represents fees receivable for the provision of accountancy, taxation, bookkeeping, payroll and related professional services, stated net of value added tax.
Revenue is recognised as services are performed, by reference to the stage of completion at the reporting date, where the outcome can be estimated reliably.
Amounts relating to services performed but not yet invoiced are recognised as accrued income, where applicable. Fees invoiced in advance of services being provided are recognised as deferred income until the relevant services are performed.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the cost of acquiring client relationships from other accountancy practices.
Goodwill is recognised at cost less accumulated amortisation and any impairment losses. Amortisation is charged to the profit and loss account on a straight-line basis over its estimated useful economic life of five years, reflecting the expected period over which the acquired client relationships will generate economic benefits.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets represent goodwill arising on the incorporation of the sole trade business into the company. This reflects the value of the existing client base and the business reputation transferred at that point. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Fixtures & Fittings 20% Straight Line
Computer Equipment 25% Straight Line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under 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 the profit and loss account as incurred.
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2.7. 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 years 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.
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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2025: 3)
3 3
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 April 2025 3,642 11,000 14,642
Additions 4,517 - 4,517
As at 31 March 2026 8,159 11,000 19,159
Amortisation
As at 1 April 2025 344 6,600 6,944
Provided during the period 1,328 2,200 3,528
As at 31 March 2026 1,672 8,800 10,472
Net Book Value
As at 31 March 2026 6,487 2,200 8,687
As at 1 April 2025 3,298 4,400 7,698
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5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2025 5,780 12,267 18,047
Additions - 960 960
Disposals - (1,107 ) (1,107 )
As at 31 March 2026 5,780 12,120 17,900
Depreciation
As at 1 April 2025 2,140 6,137 8,277
Provided during the period 1,084 2,313 3,397
Disposals - (1,107 ) (1,107 )
As at 31 March 2026 3,224 7,343 10,567
Net Book Value
As at 31 March 2026 2,556 4,777 7,333
As at 1 April 2025 3,640 6,130 9,770
6. Debtors
2026 2025
£ £
Due within one year
Trade debtors 3,505 7,823
Prepayments and accrued income 1,167 1,747
4,672 9,570
7. Creditors: Amounts Falling Due Within One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts 485 1,448
Trade creditors 1,857 1,668
Bank loans and overdrafts 507 2,999
Corporation tax 5,702 2,862
Other taxes and social security 791 722
VAT 6,548 5,152
Client Acquisition Payable 2,707 1,852
Pensions Payable 643 634
Directors' loan accounts 8,859 12,208
28,099 29,545
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8. Creditors: Amounts Falling Due After More Than One Year
2026 2025
£ £
Net obligations under finance lease and hire purchase contracts - 485
Bank loans - 507
- 992
9. Obligations Under Finance Leases and Hire Purchase
2026 2025
£ £
The future minimum finance lease payments are as follows:
Not later than one year 485 1,448
Later than one year and not later than five years - 485
485 1,933
485 1,933
10. Share Capital
2026 2025
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
During the year, the company had outstanding loans from its directors, which are unsecured, interest-free and repayable on demand.
At 31 March 2026, the total amount owed to the directors was £8,859 (2025: £12,208).
The loans are included within creditors falling due within one year.
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