Company Registration No. 12467586 (England and Wales)
HB Machinery Ltd
Unaudited accounts
for the year ended 28 February 2023
HB Machinery Ltd
Unaudited accounts
Contents
HB Machinery Ltd
Company Information
for the year ended 28 February 2023
Directors
Harry Boardman
Donna Boardman
Company Number
12467586 (England and Wales)
Registered Office
1 FIRST AVENUE
WREA GREEN
PRESTON
LANCASHIRE
PR4 2WR
UNITED KINGDOM
Accountants
Walling Accountants
Unit 1B Hallidays Farm
Bilsborrow
Preston
PR3 0RU
HB Machinery Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
19,997
14,875
Inventories
277,231
117,730
Cash at bank and in hand
177,027
162,221
Creditors: amounts falling due within one year
(381,576)
(305,160)
Net current assets
277,586
72,912
Total assets less current liabilities
297,583
87,787
Creditors: amounts falling due after more than one year
(36,338)
(41,568)
Provisions for liabilities
Deferred tax
(3,800)
(2,826)
Called up share capital
100
100
Profit and loss account
257,345
43,293
Shareholders' funds
257,445
43,393
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by
Harry Boardman
Director
Company Registration No. 12467586
HB Machinery Ltd
Notes to the Accounts
for the year ended 28 February 2023
HB Machinery Ltd is a private company, limited by shares, registered in England and Wales, registration number 12467586. The registered office is 1 FIRST AVENUE, WREA GREEN, PRESTON, LANCASHIRE, PR4 2WR, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% straight line
Plant & machinery
25% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33.3% on cost
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
HB Machinery Ltd
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 March 2022
955
9,050
6,000
1,800
4,324
22,129
Additions
9,695
-
-
-
829
10,524
At 28 February 2023
10,650
9,050
6,000
1,800
5,153
32,653
At 1 March 2022
8
2,263
2,400
38
2,545
7,254
Charge for the year
302
2,263
900
450
1,487
5,402
At 28 February 2023
310
4,526
3,300
488
4,032
12,656
At 28 February 2023
10,340
4,524
2,700
1,312
1,121
19,997
At 28 February 2022
947
6,787
3,600
1,762
1,779
14,875
Amounts falling due within one year
Trade debtors
143,406
98,121
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
5,230
5,101
Trade creditors
103,062
42,049
Taxes and social security
55,178
5,560
Loans from directors
218,106
231,990
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).