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REGISTERED NUMBER: 00548293 (England and Wales)















W.Hanson(Iron Bridge)Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023






W.Hanson(Iron Bridge)Limited (Registered number: 00548293)

Contents of the Financial Statements
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.Hanson(Iron Bridge)Limited

Company Information
for the year ended 31 July 2023







Directors: S R Gorringe
R P Gorringe
R A Gorringe
G S Gorringe





Registered office: 178 Buckingham Avenue
Slough
Berkshire
SL1 4RD





Registered number: 00548293 (England and Wales)





Accountants: Cooper Parry Advisory Limited
178 Buckingham Avenue
Slough
Berkshire
SL1 4RD

W.Hanson(Iron Bridge)Limited (Registered number: 00548293)

Balance Sheet
31 July 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 1,906,535 1,977,487

Current assets
Stocks 654,373 812,017
Debtors 5 1,878,698 2,330,520
Cash at bank and in hand 1,738,406 1,417,261
4,271,477 4,559,798
Creditors
Amounts falling due within one year 6 4,025,992 4,514,722
Net current assets 245,485 45,076
Total assets less current liabilities 2,152,020 2,022,563

Creditors
Amounts falling due after more than one
year

7

(496,416

)

(547,942

)

Provisions for liabilities 9 (108,888 ) (108,888 )
Net assets 1,546,716 1,365,733

Capital and reserves
Called up share capital 10 2,200 2,200
Revaluation reserve 11 170,619 170,619
Capital redemption reserve 11 2,200 2,200
Retained earnings 11 1,371,697 1,190,714
Shareholders' funds 1,546,716 1,365,733

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

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

W.Hanson(Iron Bridge)Limited (Registered number: 00548293)

Balance Sheet - continued
31 July 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 21 December 2023 and were signed on its behalf by:





R P Gorringe - Director


W.Hanson(Iron Bridge)Limited (Registered number: 00548293)

Notes to the Financial Statements
for the year ended 31 July 2023


1. Statutory information

W. Hanson (Iron Bridge) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00548293 and the registered office address is 178 Buckingham Avenue, Slough, Berkshire SL1 4RD.

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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be and have been undertaken to mitigate the current conditions, and with the current resources available, the Directors have concluded that the company is in a strong position and that the going concern basis continues to be applicable.

Key sources of estimation uncertainty and judgements
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically.

Turnover
Turnover comprises revenue recognised by the company in respect of timber and building merchant services supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


W.Hanson(Iron Bridge)Limited (Registered number: 00548293)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Operating leases
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

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.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

3. Employees and directors

The average number of employees during the year was 40 (2022 - 40 ) .

W.Hanson(Iron Bridge)Limited (Registered number: 00548293)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


4. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 August 2022 1,950,000 254,848 520,713 56,177 2,781,738
Additions - - 2,114 7,000 9,114
At 31 July 2023 1,950,000 254,848 522,827 63,177 2,790,852
Depreciation
At 1 August 2022 275,251 237,868 246,797 44,335 804,251
Charge for year 33,424 2,333 41,264 3,045 80,066
At 31 July 2023 308,675 240,201 288,061 47,380 884,317
Net book value
At 31 July 2023 1,641,325 14,647 234,766 15,797 1,906,535
At 31 July 2022 1,674,749 16,980 273,916 11,842 1,977,487

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 1,036,419 1,663,836
Other debtors 825,468 655,268
Prepayments and accrued income 16,811 11,416
1,878,698 2,330,520

Included within other debtors is an amount of £825,468 (2022 - £655,268) owed by RS Developments Limited, a related party.

6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 58,922 52,058
Trade creditors 1,155,867 1,259,782
Tax 258,635 354,171
Social security and other taxes 138,484 226,295
Other creditors 2,321,702 2,531,196
Accruals and deferred income 92,382 91,220
4,025,992 4,514,722

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans - 2-5 years 259,701 249,907
Bank loans more 5 yr by instal 236,715 298,035
496,416 547,942

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 236,715 298,035

W.Hanson(Iron Bridge)Limited (Registered number: 00548293)

Notes to the Financial Statements - continued
for the year ended 31 July 2023


8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 20,817 2,205
Between one and five years 59,615 -
80,432 2,205

9. Provisions for liabilities
2023 2022
£ £
Deferred tax
Accelerated capital allowances 108,888 108,888

Deferred tax
£
Balance at 1 August 2022 108,888
Balance at 31 July 2023 108,888

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
Value: £    £   

1,067 Ordinary-A £1 1,067 1067
20 Ordinary-B £1 20 22
20 Ordinary-C £1 20 22
1,089 Ordinary-D £1 1,089 1,089
2 Ordinary-E £1 2 2
2 Ordinary-F £1 2 2
2,200 2,200

11. Reserves
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£ £ £ £

At 1 August 2022 1,190,714 170,619 2,200 1,363,533
Profit for the year 893,983 893,983
Dividends (713,000 ) (713,000 )
At 31 July 2023 1,371,697 170,619 2,200 1,544,516