Registered number
01626618
John Hancock & Sons (Bath) Limited
Accounts
For the Year ended
31 March 2023
Oakensen
Chartered Accountants
31 Stallard Street
Trowbridge
Wiltshire
BA14 9AA
John Hancock & Sons (Bath) Limited
Registered number: 01626618
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 19,681 21,946
Current assets
Stocks 2,782 9,578
Debtors 4 16,225 26,640
Cash at bank and in hand 37,789 20,922
56,796 57,140
Creditors: amounts falling due within one year 5 (22,532) (21,170)
Net current assets 34,264 35,970
Total assets less current liabilities 53,945 57,916
Creditors: amounts falling due after more than one year 6 (7,052) (28,141)
Net assets 46,893 29,775
Capital and reserves
Called up share capital 100 100
Profit and loss account 46,793 29,675
Shareholders' funds 46,893 29,775
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P C Hancock
Director
Approved by the board on 22 November 2023
John Hancock & Sons (Bath) Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised at the point of sale.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% straight line
Fixtures, fittings, tools and equipment 20% straight line
Motor Vehicles 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 22,766 261,816 12,933 297,515
At 31 March 2023 22,766 261,816 12,933 297,515
Depreciation
At 1 April 2022 9,104 253,533 12,932 275,569
Charge for the year 331 1,934 - 2,265
At 31 March 2023 9,435 255,467 12,932 277,834
Net book value
At 31 March 2023 13,331 6,349 1 19,681
At 31 March 2022 13,662 8,283 1 21,946
4 Debtors 2023 2022
£ £
Trade debtors 15,116 26,640
Other debtors 1,109 -
16,225 26,640
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 10,452 10,310
Taxes and social security costs 6,099 8,917
Other creditors 5,981 1,943
22,532 21,170
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 7,052 28,141
7 Related party transactions
Included in creditors due after one year is an amount of £7,052 (2022: £28,141) owed to the directors.
8 Other information
John Hancock & Sons (Bath) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Upper Lawn Quarry
St Winifred's Drive
Combe Down
Bath
BA2 7HR
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