Registered number
10454127
T & C Hastwell Builders Limited
Unaudited Filleted Accounts
31 October 2023
T & C Hastwell Builders Limited
Registered number: 10454127
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 6,000 8,000
Tangible assets 4 10,454 13,068
16,454 21,068
Current assets
Stocks 2,000 5,000
Debtors 5 1,671 321
Cash at bank and in hand 6,769 21,074
10,440 26,395
Creditors: amounts falling due within one year 6 (28,795) (39,832)
Net current liabilities (18,355) (13,437)
Total assets less current liabilities (1,901) 7,631
Creditors: amounts falling due after more than one year 7 (2,113) (5,281)
Provisions for liabilities (1,868) (2,339)
Net (liabilities)/assets (5,882) 11
Capital and reserves
Called up share capital 4 4
Profit and loss account (5,886) 7
Shareholders' funds (5,882) 11
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr T Hastwell
Director
Approved by the board on 20 December 2023
T & C Hastwell Builders Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% on written down value
Motor vehicles 20% on written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 20,000
At 31 October 2023 20,000
Amortisation
At 1 November 2022 12,000
Provided during the year 2,000
At 31 October 2023 14,000
Net book value
At 31 October 2023 6,000
At 31 October 2022 8,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 2,000 19,895 21,895
At 31 October 2023 2,000 19,895 21,895
Depreciation
At 1 November 2022 1,287 7,540 8,827
Charge for the year 143 2,471 2,614
At 31 October 2023 1,430 10,011 11,441
Net book value
At 31 October 2023 570 9,884 10,454
At 31 October 2022 713 12,355 13,068
5 Debtors 2023 2022
£ £
Trade debtors 1,180 -
Other debtors 491 321
1,671 321
6 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 3,168 3,168
Taxation and social security costs - 5,467
Other creditors 25,627 31,197
28,795 39,832
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 2,113 5,281
8 Related party transactions
The company is controlled by the directors, by virtue of their shareholding. The directors have introduced funds to the business which have been credited to a non-interest paying loan account. Dividends of £nil (2022: £13580 have been credited to the loan account during the period and regular withdrawals have been made. At 31 October 2023 the company owed the directors £24787 (2022: £30547).
9 Other information
T & C Hastwell Builders Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Eastway Business Village
Olivers Place
Fulwood
Preston
PR2 9WT
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