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Registration number: 00772790

Joshua Hosier and Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Joshua Hosier and Son Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 8

 

Joshua Hosier and Son Limited

(Registration number: 00772790)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,049,429

926,917

Current assets

 

Stocks

5

268,165

191,160

Debtors

6

36,945

96,013

Cash at bank and in hand

 

1,597,781

1,597,769

 

1,902,891

1,884,942

Creditors: Amounts falling due within one year

7

(54,195)

(134,027)

Net current assets

 

1,848,696

1,750,915

Total assets less current liabilities

 

3,898,125

2,677,832

Creditors: Amounts falling due after more than one year

7

(41,332)

-

Provisions for liabilities

(284,234)

(59,233)

Net assets

 

3,572,559

2,618,599

Capital and reserves

 

Called up share capital

308

308

Revaluation reserve

812,883

-

Retained earnings

2,759,368

2,618,291

Shareholders' funds

 

3,572,559

2,618,599

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Joshua Hosier and Son Limited

(Registration number: 00772790)
Balance Sheet as at 30 June 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 November 2023 and signed on its behalf by:
 

.........................................
Mr JJ Hosier
Director

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Manor Farm
Buttermere
Marlborough
Wiltshire
SN8 3RQ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line basis

Motor vehicles

25% on reducing balance

Plant and machinery

15% on reducing balance

Office equipment

15% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases and Hire Purchase

Leases and hire purchase finance are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

683,672

839,548

2,362

10,850

1,536,432

Revaluations

1,007,572

-

-

-

1,007,572

Additions

-

119,714

-

-

119,714

Disposals

-

(800)

-

-

(800)

At 30 June 2023

1,691,244

958,462

2,362

10,850

2,662,918

Depreciation

At 1 July 2022

68,505

533,567

962

6,481

609,515

Charge for the year

-

71,844

210

1,092

73,146

Eliminated on disposal

-

(667)

-

-

(667)

Revaluation

(68,505)

-

-

-

(68,505)

At 30 June 2023

-

604,744

1,172

7,573

613,489

Carrying amount

At 30 June 2023

1,691,244

353,718

1,190

3,277

2,049,429

At 30 June 2022

615,167

305,981

1,400

4,369

926,917

Revaluation

The fair value of the company's Land and buildings was revalued on 30 June 2023. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £683,672 (2022 - £683,672).

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

5

Stocks

2023
£

2022
£

Other inventories

268,165

191,160

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

7,361

35,749

Prepayments

6,577

4,721

Other debtors

23,007

55,543

 

36,945

96,013

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

20,666

-

Trade creditors

20,501

84,964

Taxation and social security

6,227

41,227

Other creditors

6,801

7,836

54,195

134,027

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

41,332

-

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Hire purchase contracts

20,666

-

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

41,332

-