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REGISTERED NUMBER: 04553402 (England and Wales)











Financial Statements

for the Year Ended 31st May 2023

for

G & L Huck & Son Ltd

G & L Huck & Son Ltd (Registered number: 04553402)

Contents of the Financial Statements
for the Year Ended 31st May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G & L Huck & Son Ltd

Company Information
for the Year Ended 31st May 2023







DIRECTORS: Mr G Huck
Mrs L Huck
Mr DG Huck





SECRETARY: Mrs L Huck





REGISTERED OFFICE: C/O Towers + Gornall Ltd
River View, 96 High Street
Garstang
Preston
Lancashire
PR3 1WZ





REGISTERED NUMBER: 04553402 (England and Wales)





ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

G & L Huck & Son Ltd (Registered number: 04553402)

Balance Sheet
31st May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 482,409 479,328
482,409 479,328

CURRENT ASSETS
Stocks 256,300 256,300
Debtors 6 109,114 129,435
Cash at bank 415,857 373,225
781,271 758,960
CREDITORS
Amounts falling due within one year 7 98,552 127,785
NET CURRENT ASSETS 682,719 631,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,165,128

1,110,503

CREDITORS
Amounts falling due after more than one
year

8

(31,734

)

(41,756

)

PROVISIONS FOR LIABILITIES (34,179 ) (25,391 )
NET ASSETS 1,099,215 1,043,356

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,099,115 1,043,256
SHAREHOLDERS' FUNDS 1,099,215 1,043,356

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

G & L Huck & Son Ltd (Registered number: 04553402)

Balance Sheet - continued
31st May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th October 2023 and were signed on its behalf by:




Mr G Huck - Director Mrs L Huck - Director




Mr DG Huck - Director


G & L Huck & Son Ltd (Registered number: 04553402)

Notes to the Financial Statements
for the Year Ended 31st May 2023


1. STATUTORY INFORMATION

G & L Huck & Son Ltd 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.

Turnover represents amounts income received for labour and the sale of property which had been developed by the company.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 20% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress 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 purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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.


G & L Huck & Son Ltd (Registered number: 04553402)

Notes to the Financial Statements - continued
for the Year Ended 31st May 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2022
and 31st May 2023 180,000
AMORTISATION
At 1st June 2022
and 31st May 2023 180,000
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st June 2022 345,689 230,732 576,421
Additions - 35,874 35,874
Disposals - (16,500 ) (16,500 )
At 31st May 2023 345,689 250,106 595,795
DEPRECIATION
At 1st June 2022 - 97,093 97,093
Charge for year - 26,570 26,570
Eliminated on disposal - (10,277 ) (10,277 )
At 31st May 2023 - 113,386 113,386
NET BOOK VALUE
At 31st May 2023 345,689 136,720 482,409
At 31st May 2022 345,689 133,639 479,328

G & L Huck & Son Ltd (Registered number: 04553402)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 60,000 50,680
Other debtors 49,114 78,755
109,114 129,435

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts - 10,667
Trade creditors 36,658 21,644
Taxation and social security 40,889 64,918
Other creditors 21,005 30,556
98,552 127,785

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 31,734 41,756

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr G Huck
Balance outstanding at start of year 61,308 -
Amounts advanced 48,916 61,308
Amounts repaid (61,308 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,916 61,308

At 31 May 2023 there was an overdrawn directors loan account of £48,916. This amount will be paid off in full within 9 months of the year end.Interest was charged at a rate of 2.5% on the overdrawn amount.