REGISTERED NUMBER: |
Hanson-Tower Limited |
Financial Statements |
for the Year Ended 30 September 2023 |
REGISTERED NUMBER: |
Hanson-Tower Limited |
Financial Statements |
for the Year Ended 30 September 2023 |
Hanson-Tower Limited (Registered number: 01394030) |
Contents of the Financial Statements |
for the year ended 30 September 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Hanson-Tower Limited |
Company Information |
for the year ended 30 September 2023 |
Director: |
Registered office: |
Registered number: |
Hanson-Tower Limited (Registered number: 01394030) |
Balance Sheet |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 5 |
Investments | 6 |
Current assets |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 9 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings | 11 |
Shareholders' funds |
The director acknowledges his 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. |
Hanson-Tower Limited (Registered number: 01394030) |
Balance Sheet - continued |
30 September 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Hanson-Tower Limited (Registered number: 01394030) |
Notes to the Financial Statements |
for the year ended 30 September 2023 |
1. | Statutory information |
Hanson-Tower Limited is a |
2. | Statement of compliance |
3. | Accounting policies |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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 receivable for goods provided in the year and is stated net of VAT. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset to its residual value over its estimated useful life: |
Freehold property | - | 50 years straight line |
Plant and machinery | - | 25% on cost and at varying rates on cost |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments. |
Financial assets / liabilities - classified as basic financial instruments |
(i) Cash and cash equivalents |
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less. |
Hanson-Tower Limited (Registered number: 01394030) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2023 |
3. | Accounting policies - continued |
(ii) Trade and other receivables |
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment. |
At the end of each reporting period, the Company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss. |
(iii) Trade and other payables and loans and borrowings |
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Provisions |
Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probably that the obligation will be required to be settled, and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted when the time value of money is material. |
Going concern |
The current economic conditions, together with the COVID-19 pandemic, present increased risks for all |
businesses. In response to such conditions, the directors have carefully considered these risks including an |
assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis. |
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. |
4. | Employees and directors |
The average number of employees during the year was |
Hanson-Tower Limited (Registered number: 01394030) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2023 |
5. | Tangible fixed assets |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
Cost |
At 1 October 2022 |
and 30 September 2023 |
Depreciation |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
Net book value |
At 30 September 2023 |
At 30 September 2022 |
6. | Fixed asset investments |
Other |
investments |
£ |
Cost |
At 1 October 2022 |
and 30 September 2023 |
Net book value |
At 30 September 2023 |
At 30 September 2022 |
7. | Stocks |
2023 | 2022 |
£ | £ |
Raw materials |
Finished goods |
8. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Hanson-Tower Limited (Registered number: 01394030) |
Notes to the Financial Statements - continued |
for the year ended 30 September 2023 |
9. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to connected company | 12,928 | 17,260 |
Tax |
Social security and other taxes |
Salary control | - | 18,849 |
VAT | 67,050 | 31,888 |
Tenants deposits | 5,300 | 5,300 |
Directors' current accounts | 1,631 | 1,854 |
Accruals and deferred income |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £0.40 | 211,200 | 211,200 |
11. | Reserves |
Retained |
earnings |
£ |
At 1 October 2022 |
Profit for the year |
At 30 September 2023 |
12. | Ultimate controlling party |
The controlling party is P H Pettengell. |