Company registration number 00241082 (England and Wales)
HENDER & SONS,LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
HENDER & SONS,LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HENDER & SONS,LIMITED
BALANCE SHEET
AS AT
25 MARCH 2023
25 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,578
15,115
Investment properties
4
455,913
455,913
Investments
5
1,190,602
1,256,670
1,660,093
1,727,698
Current assets
Debtors
7
1,800
-
0
Cash at bank and in hand
7,367
8,399
9,167
8,399
Creditors: amounts falling due within one year
6
(78,908)
(89,241)
Net current liabilities
(69,741)
(80,842)
Total assets less current liabilities
1,590,352
1,646,856
Provisions for liabilities
8
(193,782)
(159,667)
Net assets
1,396,570
1,487,189
Capital and reserves
Called up share capital
12,000
12,000
Capital redemption reserve
11,000
11,000
Profit and loss reserves
1,373,570
1,464,189
Total equity
1,396,570
1,487,189

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 25 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HENDER & SONS,LIMITED
BALANCE SHEET (CONTINUED)
AS AT
25 MARCH 2023
25 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 November 2023 and are signed on its behalf by:
Mr J W Hender
Director
Company Registration No. 00241082
HENDER & SONS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2023
- 3 -
1
Accounting policies
Company information

Hender & Sons,Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Summit, Woodwater Park, Pynes Hill, Exeter, EX2 5WS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and investments at fair value. The principal accounting policies adopted are set out below.

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

1.2
Turnover

Turnover represents income from property and investments.

1.3
Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment
10% per annum on written down value
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

1.5
Fixed asset investments

Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

HENDER & SONS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 26 March 2022 and 25 March 2023
46,537
Depreciation and impairment
At 26 March 2022
31,422
Depreciation charged in the year
1,537
At 25 March 2023
32,959
Carrying amount
At 25 March 2023
13,578
At 25 March 2022
15,115
HENDER & SONS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 MARCH 2023
- 5 -
4
Investment property
2023
£
Fair value
At 26 March 2022 and 25 March 2023
455,913

As at 25 March 2023, the directors believe that the fair value of the investment property has not materially changed since the previous year.

On 26 March 2020, a legal charge was created over the investment property in favour of a third party. In August 2023, the third party passed away and the legal charge is no longer in force.

5
Fixed asset investments
2023
2022
£
£
Investments
1,190,602
1,256,670
Movements in fixed asset investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost or valuation
At 26 March 2022
11,583
1,245,087
1,256,670
Valuation changes
-
(65,224)
(65,224)
Account movement
-
(844)
(844)
At 25 March 2023
11,583
1,179,019
1,190,602
Carrying amount
At 25 March 2023
11,583
1,179,019
1,190,602
At 25 March 2022
11,583
1,245,087
1,256,670
6
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
72,568
82,002
Taxation and social security
1,455
1,455
Other creditors
4,885
5,784
78,908
89,241
HENDER & SONS,LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 MARCH 2023
- 6 -
7
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,800
-
0
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Revaluations
193,782
159,667
2023
Movements in the year:
£
Liability at 26 March 2022
159,667
Credit to profit or loss
(12,393)
Effect of change in tax rate - profit or loss
46,508
Liability at 25 March 2023
193,782
9
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Three directors
-
-
1,800
1,800
-
1,800
1,800

The advances and credits are unsecured and repayable upon demand.

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