IRIS Accounts Production v23.3.0.418 03152826 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure031528262022-03-31031528262023-03-31031528262022-04-012023-03-31031528262021-03-31031528262021-04-012022-03-31031528262022-03-3103152826ns16:EnglandWales2022-04-012023-03-3103152826ns15:PoundSterling2022-04-012023-03-3103152826ns11:Director12022-04-012023-03-3103152826ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3103152826ns11:SmallEntities2022-04-012023-03-3103152826ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3103152826ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3103152826ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3103152826ns11:FullAccounts2022-04-012023-03-3103152826ns11:Director22022-04-012023-03-3103152826ns11:Director32022-04-012023-03-3103152826ns11:CompanySecretary12022-04-012023-03-3103152826ns11:RegisteredOffice2022-04-012023-03-3103152826ns6:CurrentFinancialInstruments2023-03-3103152826ns6:CurrentFinancialInstruments2022-03-3103152826ns6:Non-currentFinancialInstruments2023-03-3103152826ns6:Non-currentFinancialInstruments2022-03-3103152826ns6:ShareCapital2023-03-3103152826ns6:ShareCapital2022-03-3103152826ns6:RetainedEarningsAccumulatedLosses2023-03-3103152826ns6:RetainedEarningsAccumulatedLosses2022-03-3103152826ns6:PlantMachinery2022-04-012023-03-3103152826ns6:MotorVehicles2022-04-012023-03-3103152826ns6:ComputerEquipment2022-04-012023-03-3103152826ns6:PlantMachinery2022-03-3103152826ns6:MotorVehicles2022-03-3103152826ns6:ComputerEquipment2022-03-3103152826ns6:PlantMachinery2023-03-3103152826ns6:MotorVehicles2023-03-3103152826ns6:ComputerEquipment2023-03-3103152826ns6:PlantMachinery2022-03-3103152826ns6:MotorVehicles2022-03-3103152826ns6:ComputerEquipment2022-03-3103152826ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3103152826ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31
REGISTERED NUMBER: 03152826 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Derek W Hancox Limited

Derek W Hancox Limited (Registered number: 03152826)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Derek W Hancox Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: D W Hancox
S N Hancox
Mrs M S Hancox Quinn





SECRETARY: Mrs Y B Hancox





REGISTERED OFFICE: 5 Victoria Street
Cinderford
Gloucestershire
GL14 2ET





REGISTERED NUMBER: 03152826 (England and Wales)





ACCOUNTANTS: SA Accountancy
5 Victoria Street
Cinderford
Gloucestershire
GL14 2ET

Derek W Hancox Limited (Registered number: 03152826)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,701,107 1,697,089

CURRENT ASSETS
Debtors 5 108,834 188,404

CREDITORS
Amounts falling due within one year 6 858,412 832,083
NET CURRENT LIABILITIES (749,578 ) (643,679 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

951,529

1,053,410

CREDITORS
Amounts falling due after more than one year 7 423,280 700,040
NET ASSETS 528,249 353,370

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 528,147 353,268
SHAREHOLDERS' FUNDS 528,249 353,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Derek W Hancox Limited (Registered number: 03152826)

Balance Sheet - continued
31 March 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





D W Hancox - Director


Derek W Hancox Limited (Registered number: 03152826)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Derek W Hancox Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - not provided
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 16 ) .

Derek W Hancox Limited (Registered number: 03152826)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 2,320,853 151,980 2,922 2,475,755
Additions 38,750 47,995 - 86,745
Disposals (63,925 ) - - (63,925 )
At 31 March 2023 2,295,678 199,975 2,922 2,498,575
DEPRECIATION
At 1 April 2022 650,352 126,673 1,641 778,666
Charge for year - 18,610 192 18,802
At 31 March 2023 650,352 145,283 1,833 797,468
NET BOOK VALUE
At 31 March 2023 1,645,326 54,692 1,089 1,701,107
At 31 March 2022 1,670,501 25,307 1,281 1,697,089

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 108,834 188,404

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 91,352 98,934
Hire purchase contracts 347,163 379,166
Trade creditors 88,170 122,262
Taxation and social security 290,708 196,040
Other creditors 41,019 35,681
858,412 832,083

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 58,500 105,200
Hire purchase contracts 364,780 594,840
423,280 700,040

8. RELATED PARTY DISCLOSURES

The controlling party is D W Hancox.