Silverfin false false 30/09/2023 01/10/2022 30/09/2023 M Farwell 09/05/2019 M R Hoare 09/05/2019 14 February 2024 The principal activity of the Company during the financial year was that of stonemasonry. 00211766 2023-09-30 00211766 bus:Director1 2023-09-30 00211766 bus:Director2 2023-09-30 00211766 2022-09-30 00211766 core:CurrentFinancialInstruments 2023-09-30 00211766 core:CurrentFinancialInstruments 2022-09-30 00211766 core:Non-currentFinancialInstruments 2023-09-30 00211766 core:Non-currentFinancialInstruments 2022-09-30 00211766 core:ShareCapital 2023-09-30 00211766 core:ShareCapital 2022-09-30 00211766 core:RevaluationReserve 2023-09-30 00211766 core:RevaluationReserve 2022-09-30 00211766 core:CapitalRedemptionReserve 2023-09-30 00211766 core:CapitalRedemptionReserve 2022-09-30 00211766 core:RetainedEarningsAccumulatedLosses 2023-09-30 00211766 core:RetainedEarningsAccumulatedLosses 2022-09-30 00211766 core:OtherResidualIntangibleAssets 2022-09-30 00211766 core:OtherResidualIntangibleAssets 2023-09-30 00211766 core:LandBuildings 2022-09-30 00211766 core:OtherPropertyPlantEquipment 2022-09-30 00211766 core:LandBuildings 2023-09-30 00211766 core:OtherPropertyPlantEquipment 2023-09-30 00211766 core:ImmediateParent core:CurrentFinancialInstruments 2023-09-30 00211766 core:ImmediateParent core:CurrentFinancialInstruments 2022-09-30 00211766 2022-10-01 2023-09-30 00211766 bus:FilletedAccounts 2022-10-01 2023-09-30 00211766 bus:SmallEntities 2022-10-01 2023-09-30 00211766 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 00211766 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 00211766 bus:Director1 2022-10-01 2023-09-30 00211766 bus:Director2 2022-10-01 2023-09-30 00211766 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-10-01 2023-09-30 00211766 core:OtherResidualIntangibleAssets 2022-10-01 2023-09-30 00211766 core:LandBuildings core:TopRangeValue 2022-10-01 2023-09-30 00211766 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 00211766 2021-10-01 2022-09-30 00211766 core:LandBuildings 2022-10-01 2023-09-30 00211766 core:Non-currentFinancialInstruments 2022-10-01 2023-09-30 00211766 1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Company No: 00211766 (England and Wales)

W.A. HOARE AND SONS (SCULPTORS) LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

W.A. HOARE AND SONS (SCULPTORS) LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

W.A. HOARE AND SONS (SCULPTORS) LIMITED

BALANCE SHEET

As at 30 September 2023
W.A. HOARE AND SONS (SCULPTORS) LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 473,841 495,895
473,841 495,895
Current assets
Stocks 5 206,048 132,745
Debtors 6 199,273 238,190
Cash at bank and in hand 277,505 138,693
682,826 509,628
Creditors: amounts falling due within one year 7 ( 239,835) ( 220,598)
Net current assets 442,991 289,030
Total assets less current liabilities 916,832 784,925
Creditors: amounts falling due after more than one year 8 ( 23,397) ( 60,018)
Provision for liabilities ( 37,991) ( 33,848)
Net assets 855,444 691,059
Capital and reserves
Called-up share capital 326,755 326,755
Revaluation reserve 110,029 110,029
Capital redemption reserve 173,249 173,249
Profit and loss account 245,411 81,026
Total shareholders' funds 855,444 691,059

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of W.A. Hoare and Sons (Sculptors) Limited (registered number: 00211766) were approved and authorised for issue by the Board of Directors on 14 February 2024. They were signed on its behalf by:

M R Hoare
Director
W.A. HOARE AND SONS (SCULPTORS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
W.A. HOARE AND SONS (SCULPTORS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

W.A. Hoare and Sons (Sculptors) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hoare Banks House, Gloucester Road, Boscombe, BH7 6DA, United Kingdom.

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 certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Revenue from services is recognised as they are delivered.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 3 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 20 years straight line
Plant and machinery etc. 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 14 14

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 October 2022 16,424 16,424
At 30 September 2023 16,424 16,424
Accumulated amortisation
At 01 October 2022 16,424 16,424
At 30 September 2023 16,424 16,424
Net book value
At 30 September 2023 0 0
At 30 September 2022 0 0

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 October 2022 321,074 794,965 1,116,039
Additions 0 10,825 10,825
At 30 September 2023 321,074 805,790 1,126,864
Accumulated depreciation
At 01 October 2022 3,325 616,819 620,144
Charge for the financial year 475 32,404 32,879
At 30 September 2023 3,800 649,223 653,023
Net book value
At 30 September 2023 317,274 156,567 473,841
At 30 September 2022 317,749 178,146 495,895

5. Stocks

2023 2022
£ £
Stocks (secured) 73,649 62,759
Work in progress (secured) 132,399 69,986
206,048 132,745

6. Debtors

2023 2022
£ £
Trade debtors 184,102 150,801
Amounts owed by Parent undertakings 63 0
Corporation tax 0 71,826
Other debtors 15,108 15,563
199,273 238,190

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 24,560 29,140
Trade creditors 77,551 62,900
Taxation and social security 86,383 49,350
Obligations under finance leases and hire purchase contracts 8,697 26,030
Other creditors 42,644 53,178
239,835 220,598

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 17,530 42,089
Obligations under finance leases and hire purchase contracts 5,867 14,596
Other creditors 0 3,333
23,397 60,018

There are no amounts included above in respect of which any security has been given by the small entity.

9. Ultimate controlling party

The ultimate controlling entity is MRH Resources Limited