Registration number:
Hogarth Business Services Ltd
for the Year Ended 31 May 2018
65 Victoria Road
Polegate
East Sussex
BN26 6BY
Hogarth Business Services Ltd
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Abridged Profit and Loss Account |
|
Statement of Comprehensive Income |
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Abridged Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Abridged Financial Statements |
Hogarth Business Services Ltd
Company Information
Directors |
Mrs Audrey SMITH Mr Gareth Edwin SMITH Mr Howard Smith Mr Michael Roland SMITH |
Company secretary |
Mrs Audrey SMITH |
Registered office |
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Accountants |
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Page 1 |
Hogarth Business Services Ltd
Directors' Report for the Year Ended 31 May 2018
The directors present their report and the abridged financial statements for the year ended 31 May 2018.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is COMPUTERISED BOOK-KEEPING AND ACCOUNTANCY, TAXATION AND SECRETARIAL SERVICES.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
.........................................
Company secretary and director
Page 2 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hogarth Business Services Ltd
for the Year Ended 31 May 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hogarth Business Services Ltd for the year ended 31 May 2018 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Hogarth Business Services Ltd, as a body, in accordance with the terms of our engagement letter dated 1 June 2010. Our work has been undertaken solely to prepare for your approval the accounts of Hogarth Business Services Ltd and state those matters that we have agreed to state to the Board of Directors of Hogarth Business Services Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hogarth Business Services Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Hogarth Business Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hogarth Business Services Ltd. You consider that Hogarth Business Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Hogarth Business Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Polegate
East Sussex
BN26 6BY
Page 3 |
Hogarth Business Services Ltd
Abridged Profit and Loss Account for the Year Ended 31 May 2018
Note |
2018 |
2017 |
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Gross profit |
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Administrative expenses |
( |
( |
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Other interest receivable and similar income |
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- |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 4 |
Hogarth Business Services Ltd
Statement of Comprehensive Income for the Year Ended 31 May 2018
2018 |
2017 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 5 |
Hogarth Business Services Ltd
(Registration number: 3366819)
Abridged Balance Sheet as at 31 May 2018
Note |
2018 |
2017 |
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Current assets |
|||
Debtors |
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Cash at bank and in hand |
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||
Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
|||
Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
.........................................
Mr Howard Smith
Director
Page 6 |
Hogarth Business Services Ltd
Statement of Changes in Equity for the Year Ended 31 May 2018
Share capital |
Profit and loss account |
Total |
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At 1 June 2017 |
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|
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 May 2018 |
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Share capital |
Profit and loss account |
Total |
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At 1 June 2016 |
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( |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 May 2017 |
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Page 7 |
Hogarth Business Services Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Page 8 |
Hogarth Business Services Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
Reducing Balance @ 20% |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
Page 9 |
Hogarth Business Services Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
2018 |
2017 |
|
Depreciation expense |
- |
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Tangible assets |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
|||
At 1 June 2017 |
|
|
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Disposals |
( |
( |
( |
At 31 May 2018 |
- |
- |
- |
Depreciation |
|||
At 1 June 2017 |
|
|
|
Eliminated on disposal |
( |
( |
( |
At 31 May 2018 |
- |
- |
- |
Carrying amount |
|||
At 31 May 2018 |
- |
- |
- |
Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
|||
No. |
£ |
No. |
£ |
|
|
|
500 |
|
500 |
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
2018 |
2017 |
|
Remuneration |
|
|
Transition to FRS 102 |
Balance Sheet at 1 June 2016
Page 10 |
Hogarth Business Services Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Capital and reserves |
||||
Total equity |
- |
- |
- |
- |
Page 11 |
Hogarth Business Services Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
Balance Sheet at 31 May 2017
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Capital and reserves |
||||
Total equity |
- |
- |
- |
- |
Page 12 |
Hogarth Business Services Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 May 2018
Profit and Loss Account for the year ended 31 May 2017
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Turnover |
- |
- |
- |
- |
Operating profit/(loss) |
- |
- |
- |
- |
Profit/(loss) before tax |
- |
- |
- |
- |
Profit/(loss) for the financial year |
- |
- |
- |
- |
Page 13 |