Company registration number 01847323 (England and Wales)
THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
2,885,108
2,566,019
Investments
6
26,000
26,000
2,911,108
2,592,019
Current assets
Stocks
77,946
64,765
Debtors
8
523,338
406,750
Cash at bank and in hand
755,009
889,642
1,356,293
1,361,157
Creditors: amounts falling due within one year
9
(735,870)
(644,665)
Net current assets
620,423
716,492
Total assets less current liabilities
3,531,531
3,308,511
Creditors: amounts falling due after more than one year
10
(1,151,043)
(1,114,992)
Provisions for liabilities
(196,165)
(98,604)
Net assets
2,184,323
2,094,915
Capital and reserves
Called up share capital
13
1,000
1,000
Profit and loss reserves
2,183,323
2,093,915
Total equity
2,184,323
2,094,915

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 31 August 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.

THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 February 2024 and are signed on its behalf by:
C Partner
Director
Company registration number 01847323 (England and Wales)
THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
1
Accounting policies
Company information

The Hunnaball Family Funeral Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is York House, 41 Mersea Road, Colchester, CO2 7QT.

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. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Business combinations

The cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
no depreciation provided
Land and buildings Leasehold
10% straight line
Fixtures, fittings & equipment
20% reducing balance
Motor vehicles
20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries 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.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is continually monitored for signs of impairment.

1.9
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and bank deposit accounts.

1.10
Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

 

Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital.

 

Investments, including those in subsidiary undertakings are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure.

 

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

1.11
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received.

1.12
Taxation

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

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.

THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 5 -
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.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense in the period to which they relate to.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.16
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

The judgements that the directors have made that have the most significant effect on the amounts recognised in the financial statements are determining whether there are indicators of impairment of the company's tangible assets. The factors taken into consideration when making the judgements include the economic benefits the assets will provide to the company.

 

The Directors have not made any material estimates in relation to these financial statements.

THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 6 -
3
Employees

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

2023
2022
Number
Number
Total
80
76
4
Intangible fixed assets
Goodwill
£
Cost
At 1 September 2022 and 31 August 2023
145,500
Amortisation and impairment
At 1 September 2022 and 31 August 2023
145,500
Carrying amount
At 31 August 2023
-
0
At 31 August 2022
-
0
5
Tangible fixed assets
Land and buildings Freehold
Land and buildings Leasehold
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2022
1,806,087
335,450
456,051
1,265,689
3,863,277
Additions
97,886
-
0
54,311
370,359
522,556
Disposals
-
0
(15,361)
-
0
(119,500)
(134,861)
At 31 August 2023
1,903,973
320,089
510,362
1,516,548
4,250,972
Depreciation and impairment
At 1 September 2022
-
0
264,472
290,160
742,626
1,297,258
Depreciation charged in the year
-
0
12,063
45,631
132,404
190,098
Eliminated in respect of disposals
-
0
(5,761)
-
0
(115,731)
(121,492)
At 31 August 2023
-
0
270,774
335,791
759,299
1,365,864
Carrying amount
At 31 August 2023
1,903,973
49,315
174,571
757,249
2,885,108
At 31 August 2022
1,806,087
70,978
165,891
523,063
2,566,019
THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 7 -
6
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
26,000
26,000
Fixed asset investments not carried at market value

All fixed asset investments are measured at cost less impairment. The investments are made up of shareholdings in small private limited companies and as such obtaining a present market value would be difficult without undue effort or expense.

7
Subsidiaries

Details of the company's subsidiaries at 31 August 2023 are as follows:

Name of undertaking and country of
Nature of business
Class of
% Held
incorporation or residency
shareholding
Direct
Indirect
Geo Paskell Funeral Service Limited
England
Dormant
Ordinary
100
0
Freedom Funerals Limited (formerly J K May Limited)
England
Dormant.
Ordinary
100
0
Janet Davies Funeral Services Limited
England
Dormant.
Ordinary
100
0
Lexden Garden of Rest Limited
England
Dormant
Ordinary
100
0
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Profit/(Loss)
Capital and Reserves
£
£
Geo Paskell Funeral Service Limited
-
0
2
Freedom Funerals Limited (formerly J K May Limited)
-
0
1
Janet Davies Funeral Services Limited
-
0
1
Lexden Garden of Rest Limited
-
0
26,267
8
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
512,544
398,156
Other debtors
10,794
8,594
523,338
406,750
THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 8 -
9
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
65,680
68,386
Obligations under finance leases
94,594
59,571
Trade creditors
235,789
207,198
Amounts owed to group undertakings
6,177
6,177
Corporation tax
26,891
37,508
Other taxation and social security
79,894
73,488
Other creditors
2,894
5,903
Accruals and deferred income
223,951
186,434
735,870
644,665
10
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
884,973
949,689
Obligations under finance leases
266,070
165,303
1,151,043
1,114,992

Hire purchase liabilities are secured over certain of the company's vehicles. Mortgages are secured by fixed charges over freehold property owned by the company.

Amounts included above which fall due after five years are as follows:
Payable by instalments
622,253
683,902
11
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
196,165
98,604
THE HUNNABALL FAMILY FUNERAL GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
11
Deferred taxation
(Continued)
- 9 -
2023
Movements in the year:
£
Liability at 1 September 2022
98,604
Charge to profit or loss
97,561
Liability at 31 August 2023
196,165

The deferred tax liability set out above is expected to reverse within 5 years and relates to accelerated capital allowances that are expected to mature within the same period.

12
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
50,643
47,914

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

13
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
14
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
963,610
831,012
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