Company registration number 01283815 (England and Wales)
H.M. SUPPLIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
H.M. SUPPLIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
H.M. SUPPLIES LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,257,934
1,263,455
Current assets
Stocks
44,544
45,461
Debtors
4
8,299
9,212
Cash at bank and in hand
156,745
277,788
209,588
332,461
Creditors: amounts falling due within one year
5
(35,118)
(33,978)
Net current assets
174,470
298,483
Total assets less current liabilities
1,432,404
1,561,938
Creditors: amounts falling due after more than one year
6
(16,524)
(26,350)
Net assets
1,415,880
1,535,588
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
1,414,880
1,534,588
Total equity
1,415,880
1,535,588
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 April 2024 and are signed on its behalf by:
Mr P Bond
Director
Company Registration No. 01283815
H.M. SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information
H.M. Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 157/159 London Road, Camberley, Surrey, GU15 3JS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings freehold
2% straight line
Plant and machinery
15% on reducing balance
Computer equipment
15% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
No depreciation has been charged on the guest accommodation property on the basis that the directors believe that the charge would be immaterial because the estimated residual value is not materially difference from the carrying value. The property is regularly maintained and kept in a good state of repair. The value is reconsidered annually.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within on year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
H.M. SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
4
3
Tangible fixed assets
Land and buildings freehold
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2022 and 31 October 2023
1,343,818
109,840
93,459
22,027
1,569,144
Depreciation and impairment
At 1 November 2022
93,523
100,610
89,759
21,797
305,689
Depreciation charged in the year
3,524
1,384
555
58
5,521
At 31 October 2023
97,047
101,994
90,314
21,855
311,210
Carrying amount
At 31 October 2023
1,246,771
7,846
3,145
172
1,257,934
At 31 October 2022
1,250,295
9,230
3,700
230
1,263,455
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
66
178
Other debtors
8,233
9,034
8,299
9,212
H.M. SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,636
Trade creditors
19,260
13,972
Taxation and social security
1,148
181
Other creditors
4,710
9,189
35,118
33,978
The secured debt included within creditors are bank overdrafts of £0 (2022: £636).
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
16,524
26,350
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
8
Directors' transactions
Dividends totalling £36,000 (2022 - £11,000) were paid in the year in respect of shares held by the company's directors.
The directors operate a current loan account with the company which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn directors' fees. The amount owed to the directors at 31 October 2023 was £696 (2022: £5,578), this amount is included in creditors: amounts falling due within one year. The loan is non interest bearing and there are no fixed repayment dates.