REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
FOR |
|
HUGH DAVIES ASSOCIATES LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
FOR |
|
HUGH DAVIES ASSOCIATES LIMITED |
HUGH DAVIES ASSOCIATES LIMITED (REGISTERED NUMBER: 01998413) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
HUGH DAVIES ASSOCIATES LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
HUGH DAVIES ASSOCIATES LIMITED (REGISTERED NUMBER: 01998413) |
|
BALANCE SHEET |
31 DECEMBER 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
|
|
|
|
|
|
|
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
HUGH DAVIES ASSOCIATES LIMITED (REGISTERED NUMBER: 01998413) |
|
BALANCE SHEET - continued |
31 DECEMBER 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
|
|
|
HUGH DAVIES ASSOCIATES LIMITED (REGISTERED NUMBER: 01998413) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
1. | STATUTORY INFORMATION |
|
Hugh Davies Associates Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover represents net invoiced sales of services, excluding value added tax. It is recognised at the point of which invoices are raised. |
|
Tangible fixed assets |
|
Long leasehold | - |
|
Computer Equipment | - |
|
Fixtures and fittings | - |
|
|
Financial instruments |
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
|
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 future taxable profits. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
HUGH DAVIES ASSOCIATES LIMITED (REGISTERED NUMBER: 01998413) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
2. | ACCOUNTING POLICIES - continued |
|
Going concern |
No material uncertainties that may cast significant doubt about the ability of the company's to continue as a going concern. |
|
COVID 19 has had minimal impact, if at all, and therefore there are no concerns regarding ability to continue as a going concern. |
|
Provisions |
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | Computer | and |
leasehold | Equipment | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2020 |
|
|
|
|
Additions |
|
|
|
|
At 31 December 2020 |
|
|
|
|
DEPRECIATION |
At 1 January 2020 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 December 2020 |
|
|
|
|
NET BOOK VALUE |
At 31 December 2020 |
|
|
|
|
At 31 December 2019 |
|
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
Regrowth Holdings Ltd | - | 169,868 |
Prepayments |
|
|
|
|
HUGH DAVIES ASSOCIATES LIMITED (REGISTERED NUMBER: 01998413) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
|
|
Corporation Tax |
|
|
Social security and other taxes |
|
|
Regrowth Holdings Limited |
|
|
Deferred income |
|
|
Accrued expenses |
|
|
|
|
|
7. | OTHER FINANCIAL COMMITMENTS |
|
The company had total contingencies and commitments at the year end of £170,979 (2019: £211,230). |
|
8. | TRANSACTIONS WITH DIRECTORS |
|
The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019: |
|
2020 | 2019 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts repaid |
|
( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
There were no loan accounts transactions in the year. |
|
At the balance sheet date the following amounts were owed to the directors: |
R A Etherington £Nil (2019: £135) |
P A Clark £49 (2019: £328) |
|
9. | RELATED PARTY DISCLOSURES |
|
Regrowth Holdings Limited |
100% Shareholder |
Amount owed to the related party at the balance sheet date £51,000 (2019: Amount owed by the related party £169,868) |