Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-310true2022-02-01falsecontinued to be that of retailers of footwear and accessories1919falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00411022 2022-02-01 2023-01-31 00411022 2021-02-01 2022-01-31 00411022 2023-01-31 00411022 2022-01-31 00411022 c:Director1 2022-02-01 2023-01-31 00411022 d:Buildings d:LongLeaseholdAssets 2022-02-01 2023-01-31 00411022 d:Buildings d:LongLeaseholdAssets 2023-01-31 00411022 d:Buildings d:LongLeaseholdAssets 2022-01-31 00411022 d:MotorVehicles 2022-02-01 2023-01-31 00411022 d:MotorVehicles 2023-01-31 00411022 d:MotorVehicles 2022-01-31 00411022 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 00411022 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 00411022 d:FurnitureFittings 2022-02-01 2023-01-31 00411022 d:FurnitureFittings 2023-01-31 00411022 d:FurnitureFittings 2022-01-31 00411022 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 00411022 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 00411022 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 00411022 d:LeasedAssetsHeldAsLessee 2022-02-01 2023-01-31 00411022 d:CurrentFinancialInstruments 2023-01-31 00411022 d:CurrentFinancialInstruments 2022-01-31 00411022 d:Non-currentFinancialInstruments 2023-01-31 00411022 d:Non-currentFinancialInstruments 2022-01-31 00411022 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 00411022 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 00411022 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 00411022 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 00411022 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 00411022 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 00411022 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 00411022 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 00411022 d:ShareCapital 2023-01-31 00411022 d:ShareCapital 2022-01-31 00411022 d:RetainedEarningsAccumulatedLosses 2023-01-31 00411022 d:RetainedEarningsAccumulatedLosses 2022-01-31 00411022 c:FRS102 2022-02-01 2023-01-31 00411022 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 00411022 c:FullAccounts 2022-02-01 2023-01-31 00411022 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 00411022 d:WithinOneYear 2023-01-31 00411022 d:WithinOneYear 2022-01-31 00411022 d:BetweenOneFiveYears 2023-01-31 00411022 d:BetweenOneFiveYears 2022-01-31 00411022 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 00411022 d:HirePurchaseContracts d:WithinOneYear 2022-01-31 00411022 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 00411022 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-01-31 00411022 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 00411022 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 00411022 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 00411022 d:TaxLossesCarry-forwardsDeferredTax 2022-01-31 00411022 2 2022-02-01 2023-01-31 00411022 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 00411022 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-01-31 00411022 d:LeasedAssetsHeldAsLessee 2023-01-31 00411022 d:LeasedAssetsHeldAsLessee 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 00411022










H SIDDALL & SONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
H SIDDALL & SONS LIMITED
REGISTERED NUMBER: 00411022

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,957
4,283

  
50,957
4,283

Current assets
  

Stocks
  
119,852
117,418

Debtors: amounts falling due within one year
 5 
55,595
52,596

Cash at bank and in hand
  
2,926
42,886

  
178,373
212,900

Creditors: amounts falling due within one year
 6 
(199,117)
(173,383)

Net current (liabilities)/assets
  
 
 
(20,744)
 
 
39,517

Total assets less current liabilities
  
30,213
43,800

Creditors: amounts falling due after more than one year
 7 
(76,471)
(52,711)

  

Net liabilities
  
(46,258)
(8,911)


Capital and reserves
  

Called up share capital 
  
7,500
7,500

Profit and loss account
  
(53,758)
(16,411)

  
(46,258)
(8,911)


Page 1

 
H SIDDALL & SONS LIMITED
REGISTERED NUMBER: 00411022
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S M Siddall
Director

Date: 30 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
H SIDDALL & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

H Siddall & Sons Limited is a private company limited by shares and incorporated in England and Wales, registration number 00411022. The registered office is 17 Market Place, Holt, Norfolk, NR25 6BE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the 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 £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Going concern

The Directors have considered the Company’s position at the time of signing the financial
statements, and in particular the effects on the Company of the wider economy. As part of their
assessment, they have taken into consideration a number of possible trading performance,
profitability and cash flow scenarios.
Based on this, the Directors have concluded that they have a reasonable expectation that the
Company will have adequate resources to continue in operational existence for the foreseeable
future, being at least twelve months from the date of signing these financial statements, and they
therefore continue to adopt the going concern basis of accounting in preparing these financial
statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
H SIDDALL & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
H SIDDALL & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Land & Buildings Leasehold
-
12.5% & 10% straight line basis
Motor vehicles
-
25% reducing balance basis
Fixtures & fittings
-
25% reducing balance basis

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 5

 
H SIDDALL & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2022 - 19).


4.


Tangible fixed assets





Leasehold Property
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 February 2022
98,049
-
126,220
224,269


Additions
-
63,275
395
63,670



At 31 January 2023

98,049
63,275
126,615
287,939



Depreciation


At 1 February 2022
98,049
-
121,937
219,986


Charge for the year on owned assets
-
-
1,177
1,177


Charge for the year on financed assets
-
15,819
-
15,819



At 31 January 2023

98,049
15,819
123,114
236,982



Net book value



At 31 January 2023
-
47,456
3,501
50,957



At 31 January 2022
-
-
4,283
4,283

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
47,456
-

47,456
-

Page 6

 
H SIDDALL & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
1,181
1,521

Other debtors
29,316
39,789

Prepayments and accrued income
9,438
8,939

Deferred taxation
15,660
2,347

55,595
52,596



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
37,248
-

Bank loans
24,324
23,569

Trade creditors
72,872
62,579

Corporation tax
903
749

Other taxation and social security
14,247
26,474

Obligations under finance lease and hire purchase contracts
12,255
-

Other creditors
27,789
53,783

Accruals and deferred income
9,479
6,229

199,117
173,383


Hire purchase liabilities are secured upon the assets to which they relate.


7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
28,472
52,711

Net obligations under finance leases and hire purchase contracts
47,999
-

76,471
52,711


One of the Company's bank loans and the overdraft is secured by a legal mortgage on the Company's leasehold property, a first fixed charge on the Company's debtors and a first floating charge on the Company's remaining assets. Further security is held in the form of a life policy for S M Siddall and a personal guarantee by S M Siddall. 

Page 7

 
H SIDDALL & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
24,324
23,569


24,324
23,569

Amounts falling due 1-2 years

Bank loans
15,138
24,256


15,138
24,256

Amounts falling due 2-5 years

Bank loans
13,334
28,455


13,334
28,455


52,796
76,280



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
12,225
-

Between 1-5 years
47,999
-

60,224
-

Page 8

 
H SIDDALL & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

10.


Deferred taxation




2023


£






At beginning of year
2,347


Charged to profit or loss
13,313



At end of year
15,660

The deferred tax asset is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(12,200)
(378)

Tax losses carried forward
27,860
2,725

15,660
2,347


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,052 (2022 - £2,978). Contributions totalling £418 (2022 - £514) were payable to the fund at the reporting date and are included in creditors.


12.


Commitments under operating leases

At 31 January 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
27,560
27,560

Later than 1 year and not later than 5 years
55,401
74,901

82,961
102,461

Page 9

 
H SIDDALL & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

13.


Transactions with directors

At the year end a director owed the Company £23,245 (2022 - £22,790).  Interest is charged at a rate of 2% (2022 - 3%). 
In addition, another director of the Company was owed £442 at the year end (2022 - £8,302 owed to the Company). 

 
Page 10