Registered number: 00669632 | ||||||||
FOR THE YEAR ENDED 31/03/2022 | ||||||||
Prepared By: | ||||||||
Somersby Consulting Limited | ||||||||
Unit 2 Sherbrook Enterprise | ||||||||
100 Sherbrook Road | ||||||||
Daybrook | ||||||||
Nottingham | ||||||||
NG5 6AB |
A Hinsley Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2022 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 00669632 | ||||||||
ACCOUNTANTS | ||||||||
Somersby Consulting Limited | ||||||||
Unit 2 Sherbrook Enterprise | ||||||||
100 Sherbrook Road | ||||||||
Daybrook | ||||||||
Nottingham | ||||||||
NG5 6AB |
A Hinsley Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2022 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
A Hinsley Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2022 | 2021 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | 3 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
925,521 | 777,981 | |||||||||
CREDITORS: Amounts falling due within one year | 6 | |||||||||
NET CURRENT ASSETS | 734,117 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CREDITORS: Amounts falling due after more than one year | 7 | 33,333 | 43,333 | |||||||
PROVISIONS FOR LIABILITIES AND CHARGES | ||||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 8 | |||||||||
Profit and loss account | 850,203 | 887,641 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
A Hinsley Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2022 | ||||||||||
1. ACCOUNTING POLICIES |
1a. General Information | ||||||||
A. Hinsley Limited is a private company, limited by shares and registered in England. The registered office address is stated on page 1 of the accounts. The company's principal activity is that of builders and property developers. |
1b. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. | ||||||||
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
1c. Revenue Recognition | ||||||||
Turnover is measured at a fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: | ||||||||
Sale of properties: Turnover from the sale of properties is recognised when the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually when contracts have been exchanged. | ||||||||
Supply of services: Turnover from the supply of building services is recognised on completion of the task. When completion of the task can be reliabliy measured, the entity will recognise both the income and expenditure. |
1d. Depreciation | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Fixtures and Fittings | reducing balance 25% |
1e. Investment Properties | ||||||||
Investment properties are included in the financial statements at open market value. Gains are recognised in the statement of comprehensive income through other operating income. |
A Hinsley Limited | ||||||||
1f. Stocks | ||||||||
Stocks are stated at the lower of cost and net realisable value being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1g. Taxation | ||||||||
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
1h. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1i. Government Grants | ||||||||
Grants of a revenue nature are recognised in other operating income within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme (Furlough). |
1j. Borrowings | ||||||||
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge of the Profit and Loss Account over the period of the relevant borrowing. | ||||||||
Interest expense is recognised on the basis of the cost effective interest method and is included in interest payable and similar charges. | ||||||||
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
A Hinsley Limited | ||||||||
2. EMPLOYEES | ||||||
2022 | 2021 | |||||
No. | No. | |||||
Average number of employees | 4 | |||||
3. TANGIBLE FIXED ASSETS | ||||||
Plant and | Fixtures | |||||
Machinery | and Fittings | Total | ||||
£ | £ | £ | ||||
Cost | ||||||
At 01/04/2021 | 1,722 | 1,999 | 3,721 | |||
Additions | 1,206 | - | 1,206 | |||
At 31/03/2022 | 2,928 | 1,999 | 4,927 | |||
Depreciation | ||||||
At 01/04/2021 | 1,602 | 1,924 | 3,526 | |||
For the year | 331 | 19 | 350 | |||
At 31/03/2022 | 1,933 | 1,943 | 3,876 | |||
Net Book Amounts | ||||||
At 31/03/2022 | 1,051 | |||||
At 31/03/2021 | 195 | |||||
4. INVESTMENT PROPERTIES | ||||||||
Investment | ||||||||
Properties | Total | |||||||
£ | £ | |||||||
Fair value | ||||||||
At 01/04/2021 | 220,000 | 220,000 | ||||||
Additions | 30,000 | 30,000 | ||||||
At 31/03/2022 | 250,000 | 250,000 | ||||||
The methods and significant assumptions used to ascertain the fair value of £250,000 (cost: £140,000) is as follows: | ||||||||
A professional valuation has previously been carried out on a Market Value basis, and in the opinion of the director Mr R A Hinsley, given his expertise and knowledge of the property market, this valuation still applies. | ||||||||
A Hinsley Limited | ||||||||
5. DEBTORS | 2022 | 2021 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
UK corporation tax | 7,316 | - | ||||||
Prepayments | 6,902 | 500 | ||||||
14,218 | 500 | |||||||
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
UK corporation tax | - | 2,761 | ||||||
VAT | 4,864 | 1,574 | ||||||
PAYE control | 4,072 | 4,967 | ||||||
Directors current account | 9,617 | 9,560 | ||||||
Barclays drawdown loan | 210,956 | - | ||||||
Loans | 10,000 | 6,667 | ||||||
Trade creditors | 17,976 | 14,182 | ||||||
Other creditors | 4,451 | 4,153 | ||||||
261,936 | 43,864 | |||||||
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2022 | 2021 | |||||||
£ | £ | |||||||
Bank loans (unsecured) >1yr | 33,333 | 43,333 | ||||||
33,333 | 43,333 | |||||||
8. SHARE CAPITAL | 2022 | 2021 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
10000 | 10000 | |||||||
10,000 | 10,000 | |||||||
A Hinsley Limited | ||||||||
9. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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