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REGISTERED NUMBER: 03345731 (England and Wales)















HETHERINGTON OFFICE SUPPLIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023






HETHERINGTON OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 03345731)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HETHERINGTON OFFICE SUPPLIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: G D Hetherington
L J Hetherington





SECRETARY: L J Hetherington





REGISTERED OFFICE: The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN





REGISTERED NUMBER: 03345731 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
The Exchange
5 Bank Street
Bury
Lancashire
BL9 0DN

HETHERINGTON OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 03345731)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 24,159 20,999
Investments 5 1 1
24,160 21,000

CURRENT ASSETS
Inventories 46,152 54,901
Debtors 6 162,790 182,104
Cash at bank and in hand 11,744 4,914
220,686 241,919
CREDITORS
Amounts falling due within one year 7 (132,302 ) (177,218 )
NET CURRENT ASSETS 88,384 64,701
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,544

85,701

CREDITORS
Amounts falling due after more than one
year

8

(15,834

)

(25,833

)
NET ASSETS 96,710 59,868

CAPITAL AND RESERVES
Called up share capital 1,100 1,100
Retained earnings 95,610 58,768
SHAREHOLDERS' FUNDS 96,710 59,868

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

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

HETHERINGTON OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 03345731)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 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 6 February 2024 and were signed on its behalf by:





G D Hetherington - Director


HETHERINGTON OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 03345731)

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


1. STATUTORY INFORMATION

Hetherington Office Supplies Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03345731 and its registered office address is The Exchange, 5 Bank Street, Bury, Lancashire, BL9 0DN.

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.

The company had net assets of £96,710 (2022: £59,868) at the year end and has generated profits post year end. The directors believe that company can manage the risks at these challenging times and therefore continue to adopt a going concern basis of accounting in preparing these financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Hetherington Office Supplies 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
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Making judgement based on historical experience on the level of provision required for impairment of inventory. Further information received after the statement of financial position date may impact on the level of provision required.

Revenue
Revenue comprises the aggregate of the fair value of the sale of goods provided, net of value-added tax, rebates and discounts.

Revenue is recognised on the sale of goods when the company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is fairly stated.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.3% on cost, 25% on reducing balance, 20% on cost, 20% on reducing balance and 10% on cost

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

HETHERINGTON OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 03345731)

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


2. ACCOUNTING POLICIES - continued

Inventories
Inventories 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 includes any expenditure incurred in bringing the inventories to their present location and condition.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Fixed asset investments
Fixed asset investments are stated at cost less any permanent diminution in value.

Pensions
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable for the period are charged in the income statement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

HETHERINGTON OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 03345731)

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


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 November 2022 150,727
Additions 6,168
At 31 October 2023 156,895
DEPRECIATION
At 1 November 2022 129,728
Charge for year 3,008
At 31 October 2023 132,736
NET BOOK VALUE
At 31 October 2023 24,159
At 31 October 2022 20,999

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 501
PROVISIONS
At 1 November 2022
and 31 October 2023 500
NET BOOK VALUE
At 31 October 2023 1
At 31 October 2022 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 91,410 99,570
Amounts owed by group undertakings 61,237 82,036
Other debtors 10,143 498
162,790 182,104

All trade debtors are secured under an invoice discounting arrangement.

HETHERINGTON OFFICE SUPPLIES LIMITED (REGISTERED NUMBER: 03345731)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 100,842 129,627
Taxation and social security 21,086 12,534
Other creditors 374 25,057
132,302 177,218

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,834 25,833