Registered number
10515450
R J Hunt & Sons Ltd
Unaudited Filleted Accounts
31 December 2022
R J Hunt & Sons Ltd
Registered number: 10515450
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 21,457 29,558
Current assets
Debtors 4 368 901
Cash at bank and in hand 13,141 4,769
13,509 5,670
Creditors: amounts falling due within one year 5 (7,918) (7,432)
Net current assets/(liabilities) 5,591 (1,762)
Total assets less current liabilities 27,048 27,796
Creditors: amounts falling due after more than one year 6 (16,521) (19,543)
Provisions for liabilities (555) (1,329)
Net assets 9,972 6,924
Capital and reserves
Called up share capital 2 2
Profit and loss account 9,970 6,922
Shareholder's funds 9,972 6,924
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Richard Hunt
Director
Approved by the board on 30 September 2023
R J Hunt & Sons Ltd
Notes to the Accounts
for the year ended 31 December 2022
1 Accounting policies
Statement of compliance
The accounts have been prepared in accordance with FRS 102, Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances.
Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulative depreciation and any accumulative impairment losses.
Depreciation is provided at rates calculated to write off the costs of fixed assets, less their estimated residual value, over their expected useful lives on a straight line basis at a rate of 25% per annum.
Assets held under finance leases are depreciated in the same way as owned assets.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
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 avaliable 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 the tax rates (and tax laws) that have been enacted by the end of the reporting period.
1 Accounting policies ( continued )
Leased assets
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2022 8,351 30,063 38,414
At 31 December 2022 8,351 30,063 38,414
Depreciation
At 1 January 2022 3,344 5,512 8,856
Charge for the year 2,088 6,013 8,101
At 31 December 2022 5,432 11,525 16,957
Net book value
At 31 December 2022 2,919 18,538 21,457
At 31 December 2021 5,007 24,551 29,558
4 Debtors 2022 2021
£ £
Trade debtors - 901
Other debtors 368 -
368 901
5 Creditors: amounts falling due within one year 2022 2021
£ £
Obligations under finance lease and hire purchase contracts 3,022 3,022
Taxation and social security costs 4,070 295
Other creditors 826 4,115
7,918 7,432
6 Creditors: amounts falling due after one year 2022 2021
£ £
Obligations under finance lease and hire purchase contracts 16,521 19,543
7 Other information
R J Hunt & Sons Ltd is a private company limited by shares and incorporated in England. Its registered office is:
29 Bryerland Road
Witcombe
Gloucester
Gloucestershire
GL3 4TA
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