Company Registration No. 05149661 (England and Wales)
HYNDBURN COMMERCIALS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2023
31 July 2023
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
HYNDBURN COMMERCIALS LTD
COMPANY INFORMATION
Directors
Mrs C E Teasdale
Mr L K Teasdale
Secretary
Mrs C E Teasdale
Company number
05149661
Registered office
Unit 2, Spring Court
Alan Ramsbottom Way
Great Harwood
Blackburn
Lancashire
BB6 7WL
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
HYNDBURN COMMERCIALS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HYNDBURN COMMERCIALS LTD
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
4,620
9,240
Tangible assets
4
7,360
9,043
11,980
18,283
Current assets
Stocks
2,328
2,251
Debtors
5
121,567
113,113
Cash at bank and in hand
271,057
189,963
394,952
305,327
Creditors: amounts falling due within one year
6
(147,688)
(128,531)
Net current assets
247,264
176,796
Total assets less current liabilities
259,244
195,079
Provisions for liabilities
(1,839)
(2,260)
Net assets
257,405
192,819
Capital and reserves
Called up share capital
4
4
Profit and loss reserves
257,401
192,815
Total equity
257,405
192,819

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HYNDBURN COMMERCIALS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2023
31 July 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 October 2023 and are signed on its behalf by:
Mr L K Teasdale
Director
Company Registration No. 05149661
HYNDBURN COMMERCIALS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

Hyndburn Commercials Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Spring Court, Alan Ramsbottom Way, Great Harwood, Blackburn, Lancashire, BB6 7WL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the value of goods and services, excluding value added tax, despatched/provided during the year, for which the right to consideration has been obtained.

1.3
Intangible fixed assets - goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HYNDBURN COMMERCIALS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
10
10
HYNDBURN COMMERCIALS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
92,400
Amortisation and impairment
At 1 August 2022
83,160
Amortisation charged for the year
4,620
At 31 July 2023
87,780
Carrying amount
At 31 July 2023
4,620
At 31 July 2022
9,240
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 August 2022
44,278
Disposals
(4,789)
At 31 July 2023
39,489
Depreciation and impairment
At 1 August 2022
35,235
Depreciation charged in the year
1,358
Eliminated in respect of disposals
(4,464)
At 31 July 2023
32,129
Carrying amount
At 31 July 2023
7,360
At 31 July 2022
9,043
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
117,727
109,600
Other debtors
3,840
3,513
121,567
113,113
HYNDBURN COMMERCIALS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
34,385
29,226
Taxation and social security
86,924
68,582
Other creditors
26,379
30,723
147,688
128,531
7
Leasing Agreements

The company had operating lease commitments totalling £197,827 (2021 - £228,809) at the year end.

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