2022-03-012023-02-282023-02-28false08337992W.F. HUTCHINSON 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W.F. HUTCHINSON LIMITED

Registered Number
08337992
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

W.F. HUTCHINSON LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

HUTCHINSON, Harold William
HUTCHINSON, Thelma Maureen

Registered Address

Kirkdale House Flat
Tilberthwaite Avenue
Coniston
LA21 8ED

Registered Number

08337992 (England and Wales)
W.F. HUTCHINSON LIMITED
Statement of Financial Position
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5198,497206,186
198,497206,186
Current assets
Stocks643,54043,322
Debtors736,54788,288
Cash at bank and on hand114,176109,852
194,263241,462
Creditors amounts falling due within one year8(28,206)(20,975)
Net current assets (liabilities)166,057220,487
Total assets less current liabilities364,554426,673
Net assets364,554426,673
Capital and reserves
Called up share capital100100
Profit and loss account364,454426,573
Shareholders' funds364,554426,673
The financial statements were approved and authorised for issue by the Board of Directors on 12 December 2023, and are signed on its behalf by:
HUTCHINSON, Harold William
Director
Registered Company No. 08337992
W.F. HUTCHINSON LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.First time adoption and other factors relevant to transition
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings15
Vehicles25
Office Equipment40
Stocks policy
DO NOT USE inc in bottom note unless bottom note adds no value Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
4.Employee information

20232022
Average number of employees during the year87
5.Property, plant and equipment

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 March 22256,7924,66320,60119,0434,632305,731
Additions----340340
At 28 February 23256,7924,66320,60119,0434,972306,071
Depreciation and impairment
At 01 March 2258,5804,05017,63014,6974,58899,545
Charge for year6,449122743652638,029
At 28 February 2365,0294,17218,37315,3494,651107,574
Net book value
At 28 February 23191,7634912,2283,694321198,497
At 28 February 22198,2126132,9714,34644206,186
6.Stocks

2023

2022

££
Raw materials and consumables43,54043,322
Total43,54043,322
7.Debtors

2023

2022

££
Amounts owed by associates and joint ventures / participating interests13,54013,540
Other debtors20,58271,833
Prepayments and accrued income2,4251,915
Deferred tax asset, debtors-1,000
Total36,54788,288
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables18,97910,327
Taxation and social security3676,768
Other creditors4,400-
Accrued liabilities and deferred income4,4603,880
Total28,20620,975
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.