D&N Hancock Limited 13164665 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is letting, buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true 13164665 2022-02-01 2023-01-31 13164665 2023-01-31 13164665 core:OtherReservesSubtotal 2023-01-31 13164665 core:RetainedEarningsAccumulatedLosses 2023-01-31 13164665 core:ShareCapital 2023-01-31 13164665 core:CurrentFinancialInstruments 2023-01-31 13164665 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13164665 core:Non-currentFinancialInstruments 2023-01-31 13164665 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 13164665 bus:SmallEntities 2022-02-01 2023-01-31 13164665 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 13164665 bus:FullAccounts 2022-02-01 2023-01-31 13164665 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 13164665 bus:RegisteredOffice 2022-02-01 2023-01-31 13164665 bus:Director1 2022-02-01 2023-01-31 13164665 bus:Director2 2022-02-01 2023-01-31 13164665 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 13164665 countries:EnglandWales 2022-02-01 2023-01-31 13164665 2022-01-31 13164665 2021-01-28 2022-01-31 13164665 2022-01-31 13164665 core:OtherReservesSubtotal 2022-01-31 13164665 core:RetainedEarningsAccumulatedLosses 2022-01-31 13164665 core:ShareCapital 2022-01-31 13164665 core:CurrentFinancialInstruments 2022-01-31 13164665 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 13164665 core:Non-currentFinancialInstruments 2022-01-31 13164665 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 13164665

D&N Hancock Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2023

 

D&N Hancock Limited
(Registration number: 13164665)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

D&N Hancock Limited
(Registration number: 13164665)

Company Information

Directors

Mr D Hancock

Mrs N Hancock

Registered office

407 Topsham Road
Exeter
Devon
EX2 7AB

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

D&N Hancock Limited
(Registration number: 13164665)

Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,386,646

1,229,105

Current assets

 

Debtors

5

762

7,749

Cash at bank and in hand

 

77,109

34,370

 

77,871

42,119

Creditors: Amounts falling due within one year

6

(636,153)

(642,428)

Net current liabilities

 

(558,282)

(600,309)

Total assets less current liabilities

 

828,364

628,796

Creditors: Amounts falling due after more than one year

6

(625,707)

(625,707)

Provisions for liabilities

(39,385)

-

Net assets

 

163,272

3,089

Capital and reserves

 

Called up share capital

2

2

Other reserves

118,156

-

Profit and loss account

45,114

3,087

Total equity

 

163,272

3,089

For the financial year ending 31 January 2023 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 accounts for the year in question in accordance with section 476; and

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.

 

D&N Hancock Limited
(Registration number: 13164665)

Balance Sheet as at 31 January 2023

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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 October 2023 and signed on its behalf by:
 

.........................................
Mr D Hancock
Director

 

D&N Hancock Limited
(Registration number: 13164665)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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:
407 Topsham Road
Exeter
Devon
EX2 7AB
United Kingdom

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 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 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.

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.

 

D&N Hancock Limited
(Registration number: 13164665)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

D&N Hancock Limited
(Registration number: 13164665)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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 to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 February

1,229,105

Fair value adjustments

157,541

At 31 January

1,386,646

The 2023 valuation was undertaken by the directors, at fair value based on their extensive knowledge of the local property market.

There has been no valuation of investment property by an independent valuer.

5

Debtors

2023
£

2022
£

Other debtors

762

7,749

Total current trade and other debtors

762

7,749

 

D&N Hancock Limited
(Registration number: 13164665)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

6

Creditors

2023
£

2022
£

Due within one year

Taxation and social security

11,499

8,069

Other creditors

616,952

621,481

Accrued expenses

1,000

1,000

Deferred income

6,702

11,878

636,153

642,428

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

625,707

625,707

Included within loans and borrowings is £625,707 (2022 - £625,707) on which security has been given by way of a fixed charge over the assets of the company.

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

625,707

625,707