IRIS Accounts Production v23.2.0.158 06055780 director 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 Ordinary D 1.00000 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure060557802022-03-31060557802023-03-31060557802022-04-012023-03-31060557802021-03-31060557802021-04-012022-03-31060557802022-03-3106055780ns16:EnglandWales2022-04-012023-03-3106055780ns15:PoundSterling2022-04-012023-03-3106055780ns11:Director12022-04-012023-03-3106055780ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3106055780ns11:SmallEntities2022-04-012023-03-3106055780ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3106055780ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3106055780ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3106055780ns11:FullAccounts2022-04-012023-03-3106055780ns11:OrdinaryShareClass12022-04-012023-03-3106055780ns11:OrdinaryShareClass22022-04-012023-03-3106055780ns11:OrdinaryShareClass32022-04-012023-03-3106055780ns11:OrdinaryShareClass42022-04-012023-03-31060557803ns11:OrdinaryShareClass32022-04-012023-03-3106055780ns11:CompanySecretary12022-04-012023-03-3106055780ns11:RegisteredOffice2022-04-012023-03-3106055780ns6:CurrentFinancialInstruments2023-03-3106055780ns6:CurrentFinancialInstruments2022-03-3106055780ns6:Non-currentFinancialInstruments2023-03-3106055780ns6:Non-currentFinancialInstruments2022-03-3106055780ns6:ShareCapital2023-03-3106055780ns6:ShareCapital2022-03-3106055780ns6:RetainedEarningsAccumulatedLosses2023-03-3106055780ns6:RetainedEarningsAccumulatedLosses2022-03-3106055780ns6:ShortLeaseholdAssetsns6:LandBuildings2022-04-012023-03-3106055780ns6:PlantMachinery2022-04-012023-03-3106055780ns6:MotorVehicles2022-04-012023-03-3106055780ns6:ComputerEquipment2022-04-012023-03-3106055780ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-3106055780ns6:PlantMachinery2022-03-3106055780ns6:MotorVehicles2022-03-3106055780ns6:ComputerEquipment2022-03-3106055780ns6:ShortLeaseholdAssetsns6:LandBuildings2023-03-3106055780ns6:PlantMachinery2023-03-3106055780ns6:MotorVehicles2023-03-3106055780ns6:ComputerEquipment2023-03-3106055780ns6:ShortLeaseholdAssetsns6:LandBuildings2022-03-3106055780ns6:PlantMachinery2022-03-3106055780ns6:MotorVehicles2022-03-3106055780ns6:ComputerEquipment2022-03-3106055780ns6:AdditionsToInvestments2023-03-3106055780ns6:CostValuation2023-03-3106055780ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3106055780ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3106055780ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-03-3106055780ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-3106055780ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-3106055780ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-3106055780ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-03-3106055780ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-03-3106055780ns11:OrdinaryShareClass12023-03-3106055780ns11:OrdinaryShareClass22023-03-3106055780ns11:OrdinaryShareClass32023-03-3106055780ns11:OrdinaryShareClass42023-03-3106055780ns11:Director112022-03-3106055780ns11:Director112021-03-3106055780ns11:Director112022-04-012023-03-3106055780ns11:Director112021-04-012022-03-3106055780ns11:Director112023-03-3106055780ns11:Director112022-03-31
REGISTERED NUMBER: 06055780 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

HOWCROFT GROUP LIMITED

HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)






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


HOWCROFT GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: Mr A R Howcroft



SECRETARY: Mr R A Howcroft



REGISTERED OFFICE: Unit 9B Brookfields Way
Manvers
Rotherham
South Yorkshire
S63 5DL



REGISTERED NUMBER: 06055780 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: Santander UK Plc
Bridle Road
Bootle
Merseyside
L30 4GB

HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 347,521 92,855
Investments 5 271,027 -
618,548 92,855

CURRENT ASSETS
Stocks 6 368,065 366,373
Debtors 7 852,456 1,057,571
Cash at bank and in hand 153,968 321,940
1,374,489 1,745,884
CREDITORS
Amounts falling due within one year 8 700,160 831,571
NET CURRENT ASSETS 674,329 914,313
TOTAL ASSETS LESS CURRENT LIABILITIES 1,292,877 1,007,168

CREDITORS
Amounts falling due after more than
one year

9

(250,937

)

(32,500

)

PROVISIONS FOR LIABILITIES (45,548 ) (14,058 )
NET ASSETS 996,392 960,610

CAPITAL AND RESERVES
Called up share capital 10 105 104
Retained earnings 996,287 960,506
SHAREHOLDERS' FUNDS 996,392 960,610

HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)

BALANCE SHEET - continued
31 MARCH 2023


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 director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2023 and were signed by:





Mr A R Howcroft - Director


HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Howcroft Group 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Preparation of consolidated financial statements
The financial statements contain information about Howcroft Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover from the sale of industrial supplies is recognised when significant risks and rewards of ownership of the goods have been transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measure reliably. This is usually on dispatch of the goods.

HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvement - 5% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on cost

Tangible fixed assets are stated at costs or valuation less accumulated depreciation and accumulated impairment losses. Costs include costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Cost is calculated using the first-in, first-out method and includes all relevant costs incurred in bringing the stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Financial instruments
Financial liabilities and equity instruments are classified according to the substance to the substance of the contractual arrangements entered into. equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Revenue grants
Grants which are received for compensation for expenses or losses which have already been incurred are recognisable in income when the grant is received or receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 18 ) .

HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Leasehold
property Plant and Motor Office
improvement machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 17,835 73,252 68,107 177,007 336,201
Additions 245,326 31,539 - 23,559 300,424
Disposals (1,067 ) (19,718 ) - (76,639 ) (97,424 )
At 31 March 2023 262,094 85,073 68,107 123,927 539,201
DEPRECIATION
At 1 April 2022 8,789 64,586 42,466 127,505 243,346
Charge for year 8,642 6,742 6,410 20,239 42,033
Eliminated on disposal (378 ) (18,783 ) - (74,538 ) (93,699 )
At 31 March 2023 17,053 52,545 48,876 73,206 191,680
NET BOOK VALUE
At 31 March 2023 245,041 32,528 19,231 50,721 347,521
At 31 March 2022 9,046 8,666 25,641 49,502 92,855

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 271,027
At 31 March 2023 271,027
NET BOOK VALUE
At 31 March 2023 271,027

6. STOCKS
31.3.23 31.3.22
£    £   
Stocks 368,065 366,373

HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 848,642 1,014,749
Other debtors - 40,349
Prepayments and accrued income 3,814 2,473
852,456 1,057,571

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Other loans 53,750 -
Trade creditors 484,242 602,262
Amounts owed to group undertakings 14,163 -
Corporation tax 19,098 84,887
Social security and other taxes 22,694 -
VAT 30,059 67,198
Other creditors 21,788 4,594
Directors' current accounts 41,566 18,644
Accruals and deferred income 2,800 43,986
700,160 831,571

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 12,500 22,500
Other loans - 1-2 years 53,750 -
Other loans - 2-5 years 161,250 -
Other loans more 5yrs instal 13,437 -
250,937 32,500

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 13,437 -

HOWCROFT GROUP LIMITED (REGISTERED NUMBER: 06055780)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary A £1 100 100
1 Ordinary B £1 1 1
3 Ordinary C £1 3 2
(31.3.22 - 2 )
1 Ordinary D £1 1 1
105 104

The following shares were issued during the year for cash at par :

1 Ordinary C share of £1

11. OTHER FINANCIAL COMMITMENTS

The total financial commitments which are not included in the balance sheet amount to £173,059 (2022: £181,445).

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Mr A R Howcroft
Balance outstanding at start of year - 18,557
Amounts repaid - (18,557 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -