SLJ Hackett Ltd Filleted accounts for Companies House (small and micro)

SLJ Hackett Ltd Filleted accounts for Companies House (small and micro)

SLJ HACKETT LTD - Company Information

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1 false false false false false false false false false true false false false false false false No description of principal activity 2020-09-01 Sage Accounts Production Advanced 2021 - FRS102_2021 30,000 24,000 5,000 29,000 1,000 6,000 601 488 1,089 160 155 315 774 441 xbrli:pure xbrli:shares iso4217:GBP 10350175 2020-09-01 2021-06-30 10350175 2021-06-30 10350175 2020-08-31 10350175 2019-09-01 2020-08-31 10350175 2020-08-31 10350175 core:NetGoodwill 2020-09-01 2021-06-30 10350175 bus:Director1 2020-09-01 2021-06-30 10350175 bus:Director2 2020-09-01 2021-06-30 10350175 core:NetGoodwill 2020-08-31 10350175 core:NetGoodwill 2021-06-30 10350175 core:WithinOneYear 2021-06-30 10350175 core:WithinOneYear 2020-08-31 10350175 core:ShareCapital 2021-06-30 10350175 core:ShareCapital 2020-08-31 10350175 core:RetainedEarningsAccumulatedLosses 2021-06-30 10350175 core:RetainedEarningsAccumulatedLosses 2020-08-31 10350175 core:NetGoodwill 2020-08-31 10350175 bus:SmallEntities 2020-09-01 2021-06-30 10350175 bus:AuditExemptWithAccountantsReport 2020-09-01 2021-06-30 10350175 bus:FullAccounts 2020-09-01 2021-06-30 10350175 bus:SmallCompaniesRegimeForAccounts 2020-09-01 2021-06-30 10350175 bus:PrivateLimitedCompanyLtd 2020-09-01 2021-06-30 10350175 core:OfficeEquipment 2020-09-01 2021-06-30 10350175 core:OfficeEquipment 2020-08-31 10350175 core:OfficeEquipment 2021-06-30
COMPANY REGISTRATION NUMBER: 10350175
SLJ Hackett Ltd
Filleted Unaudited Financial Statements
For the period ended
30 June 2021
SLJ Hackett Ltd
Statement of Financial Position
30 June 2021
30 Jun 21
31 Aug 20
Note
£
£
£
Fixed assets
Intangible assets
5
1,000
6,000
Tangible assets
6
774
441
-------
-------
1,774
6,441
Current assets
Stocks
29,667
–
Debtors
7
47,552
45,106
Cash at bank and in hand
166,888
92,264
---------
---------
244,107
137,370
Creditors: amounts falling due within one year
8
199,063
137,187
---------
---------
Net current assets
45,044
183
--------
-------
Total assets less current liabilities
46,818
6,624
--------
-------
Net assets
46,818
6,624
--------
-------
Capital and reserves
Called up share capital
60,000
60,000
Profit and loss account
( 13,182)
( 53,376)
--------
--------
Shareholders funds
46,818
6,624
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30th June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SLJ Hackett Ltd
Statement of Financial Position (continued)
30 June 2021
These financial statements were approved by the board of directors and authorised for issue on 29 March 2022 , and are signed on behalf of the board by:
Mr M Toulson-Clarke
Mr R Hackett
Director
Director
Company registration number: 10350175
SLJ Hackett Ltd
Notes to the Financial Statements
Period from 1st September 2020 to 30th June 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 10a Factory Lane, Warminster, Wiltshire, BA12 8LT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2020: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1st September 2020 and 30th June 2021
30,000
--------
Amortisation
At 1st September 2020
24,000
Charge for the period
5,000
--------
At 30th June 2021
29,000
--------
Carrying amount
At 30th June 2021
1,000
--------
At 31st August 2020
6,000
--------
6. Tangible assets
Equipment
£
Cost
At 1st September 2020
601
Additions
488
-------
At 30th June 2021
1,089
-------
Depreciation
At 1st September 2020
160
Charge for the period
155
-------
At 30th June 2021
315
-------
Carrying amount
At 30th June 2021
774
-------
At 31st August 2020
441
-------
7. Debtors
30 Jun 21
31 Aug 20
£
£
Trade debtors
10,020
2,972
Other debtors
37,532
42,134
--------
--------
47,552
45,106
--------
--------
8. Creditors: amounts falling due within one year
30 Jun 21
31 Aug 20
£
£
Trade creditors
153,486
89,086
Corporation tax
4,092
–
Social security and other taxes
–
6,661
Other creditors
41,485
41,440
---------
---------
199,063
137,187
---------
---------