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Registration number: 00808151

John Hall and Company of Stourbridge Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

John Hall and Company of Stourbridge Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

John Hall and Company of Stourbridge Limited

Company Information

Directors

Mr M K Garrington

Mr J A Syree

Mrs RTG Mellor

Ms N F Dawson

Ms S D Mellor

Registered office

Junction Road
Audnam
Stourbridge
West Midlands
DY8 4YH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

John Hall and Company of Stourbridge Limited

(Registration number: 00808151)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

246,541

235,432

Investment property

5

305,412

305,412

Investments

6

49,054

49,054

 

601,007

589,898

Current assets

 

Debtors

8

651,135

677,511

Other financial assets

7

1,066,123

1,026,496

Cash at bank and in hand

 

309,389

102,750

 

2,026,647

1,806,757

Creditors: Amounts falling due within one year

9

(34,343)

(29,045)

Net current assets

 

1,992,304

1,777,712

Net assets

 

2,593,311

2,367,610

Capital and reserves

 

Called up share capital

92,048

92,048

Share premium reserve

98,667

98,667

Capital redemption reserve

11,462

11,462

Retained earnings

2,391,134

2,165,433

Shareholders' funds

 

2,593,311

2,367,610

For the financial year ending 30 June 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.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
Ms S D Mellor
Director

   
 

John Hall and Company of Stourbridge Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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:
Junction Road
Audnam
Stourbridge
West Midlands
DY8 4YH

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

John Hall and Company of Stourbridge Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% on cost or valuation of buildings

Fixtures and fittings

33.3% on cost

Motor vehicles

25% on cost

Computer equipment

25% on cost

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.

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.

 

John Hall and Company of Stourbridge Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 7).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

372,962

20,255

122,359

515,576

Additions

24,545

-

39,350

63,895

Disposals

-

-

(58,143)

(58,143)

At 30 June 2023

397,507

20,255

103,566

521,328

Depreciation

At 1 July 2022

209,081

17,193

53,870

280,144

Charge for the year

6,459

1,769

26,831

35,059

Eliminated on disposal

-

-

(40,416)

(40,416)

At 30 June 2023

215,540

18,962

40,285

274,787

Carrying amount

At 30 June 2023

181,967

1,293

63,281

246,541

At 30 June 2022

163,881

3,062

68,489

235,432

Included within the net book value of land and buildings above is £181,967 (2022 - £163,881) in respect of freehold land and buildings.
 

 

John Hall and Company of Stourbridge Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Investment properties

2023
£

2022
£

At 1 July 2020

305,412

305,412

Additions

-

-

At 30 June 2021

305,412

305,412


It is the opinion of the Directors that the current value of investment property is in line with its market value.

6

Investments

2023
£

2022
£

Investments in subsidiaries

49,054

49,054

Subsidiaries

£

Cost or valuation

At 1 July 2022

49,054

Provision

Carrying amount

At 30 June 2023

49,054

At 30 June 2022

49,054

 

John Hall and Company of Stourbridge Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 July 2022

1,026,496

1,026,496

Fair value adjustments

24,416

24,416

Additions

132,187

132,187

Disposals

(116,976)

(116,976)

At 30 June 2023

1,066,123

1,066,123

Carrying amount

At 30 June 2023

1,066,123

1,066,123

 

John Hall and Company of Stourbridge Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

8

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

636,474

669,474

Prepayments

 

-

1,175

Other debtors

 

14,661

6,862

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Amounts owed to related parties

20,000

20,000

Taxation and social security

 

2,681

-

Other creditors

 

11,662

9,045

 

34,343

29,045

10

Reserves

On 16 August 2021 the company purchased 11,462 of its shares for a consideration of £88,000.