Company registration number 05644660 (England and Wales)
S HAYCOCK (PLASTERING) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
S HAYCOCK (PLASTERING) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
S HAYCOCK (PLASTERING) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,286
3,456
Current assets
Debtors
5
596
3,438
Cash at bank and in hand
56,908
121,033
57,504
124,471
Creditors: amounts falling due within one year
6
(35,973)
(88,404)
Net current assets
21,531
36,067
Net assets
22,817
39,523
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
22,807
39,513
Total equity
22,817
39,523
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 March 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.
The financial statements were approved by the board of directors and authorised for issue on 24 October 2023 and are signed on its behalf by:
Steven Haycock
Director
Company Registration No. 05644660
S HAYCOCK (PLASTERING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
S Haycock (Plastering) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Highland Ridge, Halesowen, West Midlands, B62 8PH.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
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:
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% 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.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
S HAYCOCK (PLASTERING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2022 and 31 March 2023
23,000
Amortisation and impairment
At 1 April 2022 and 31 March 2023
23,000
Carrying amount
At 31 March 2023
At 31 March 2022
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
31,117
Disposals
(13,053)
At 31 March 2023
18,064
Depreciation and impairment
At 1 April 2022
27,661
Depreciation charged in the year
428
Eliminated in respect of disposals
(11,311)
At 31 March 2023
16,778
Carrying amount
At 31 March 2023
1,286
At 31 March 2022
3,456
S HAYCOCK (PLASTERING) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
(1)
530
Corporation tax recoverable
2,211
Other debtors
597
697
596
3,438
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
981
Corporation tax
2,455
Other taxation and social security
68
130
Other creditors
33,450
87,293
35,973
88,404