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Registration number: 06040309

A J Hunkin Decorators Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 February 2022

 

A J Hunkin Decorators Limited

Contents

Company Information

1

Abridged Statement of Financial Position

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

A J Hunkin Decorators Limited

Company Information

Director

Mr Austin James Hunkin

Registered office

8 Kent Avenue
Carlyon Bay
St Austell
Cornwall
PL25 3HH

Accountants

Harland Accountants
35 High Cross Street
St. Austell
Cornwall
PL25 4AN

 

A J Hunkin Decorators Limited

(Registration number: 06040309)
Abridged Statement of Financial Position as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

2,004

1,405

Current assets

 

Debtors

9,895

24,401

Cash at bank and in hand

 

62,381

45,547

 

72,276

69,948

Prepayments and accrued income

 

139

247

Creditors: Amounts falling due within one year

(8,484)

(21,551)

Net current assets

 

63,931

48,644

Total assets less current liabilities

 

65,935

50,049

Provisions for liabilities

(381)

(267)

Accruals and deferred income

 

(1,836)

(1,900)

Net assets

 

63,718

47,882

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

63,618

47,782

Shareholders' funds

 

63,718

47,882

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

 

A J Hunkin Decorators Limited

(Registration number: 06040309)
Abridged Statement of Financial Position as at 28 February 2022

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 2 September 2022
 

.........................................

Mr Austin James Hunkin

Director

 

A J Hunkin Decorators Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Kent Avenue
Carlyon Bay
St Austell
Cornwall
PL25 3HH

These financial statements were authorised for issue by the director on 2 September 2022.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 and deferred 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.

 

A J Hunkin Decorators Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2022

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

10% on cost

Motor vehicles

20% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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.

 

A J Hunkin Decorators Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2022

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

 

A J Hunkin Decorators Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2022

4

Intangible assets

Total
£

Cost or valuation

At 1 March 2021

25,000

At 28 February 2022

25,000

Amortisation

At 1 March 2021

25,000

At 28 February 2022

25,000

Carrying amount

At 28 February 2022

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2021

525

28,764

3,812

33,101

Additions

-

-

869

869

At 28 February 2022

525

28,764

4,681

33,970

Depreciation

At 1 March 2021

525

28,764

2,407

31,696

Charge for the year

-

-

270

270

At 28 February 2022

525

28,764

2,677

31,966

Carrying amount

At 28 February 2022

-

-

2,004

2,004

At 28 February 2021

-

-

1,405

1,405

 

A J Hunkin Decorators Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2022

6

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100