REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2022 |
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for |
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Hutchinson Trustees Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2022 |
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for |
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Hutchinson Trustees Limited |
Hutchinson Trustees Limited (Registered number: 03195365) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Hutchinson Trustees Limited |
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Company Information |
for the Year Ended 31 March 2022 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
92 Park Street |
Camberley |
Surrey |
GU15 3NY |
Hutchinson Trustees Limited (Registered number: 03195365) |
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Statement of Financial Position |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Hutchinson Trustees Limited (Registered number: 03195365) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Hutchinson Trustees Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Revenue recognition |
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. |
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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: |
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-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. |
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The above conditions are considered to be met upon delivery of the service to the customer. Revenue in respect of annual fees is recognised over the year for which they are invoiced, where revenue is invoiced in advance, the revenue is deferred over the period to which the service relates. |
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Goodwill |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Office equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Financial instruments |
Financial instruments are recognised initially at the transaction price. Any that are not payable within twelve months are amortised, if material, using the effective interest method less any provision for impairment. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 Statement of Financial Position date. |
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Hutchinson Trustees Limited (Registered number: 03195365) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the Statement of Financial Position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Operating leases |
Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease. |
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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 the Income Statement in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
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AMORTISATION |
At 1 April 2021 |
and 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Hutchinson Trustees Limited (Registered number: 03195365) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Office |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
and 31 March 2022 |
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DEPRECIATION |
At 1 April 2021 |
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Charge for year |
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At 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Deferred tax asset |
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Prepayments and accrued income |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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VAT | 43,276 | 24,516 |
Other creditors |
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Directors' current accounts | 1,714 | - |
Accruals and deferred income |
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Hutchinson Trustees Limited (Registered number: 03195365) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2022 | 2021 |
£ | £ |
Within one year |
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Between one and five years |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 March 2022 and 31 March 2021: |
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2022 | 2021 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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The above loan is unsecured, interest free and repayable on demand. |