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REGISTERED NUMBER: 04788257 (England and Wales)















HUNT AND SWAIN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






HUNT AND SWAIN LIMITED (REGISTERED NUMBER: 04788257)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


HUNT AND SWAIN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: T D Swain
Mrs S L Swain





SECRETARY: T D Swain





REGISTERED OFFICE: 26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT





REGISTERED NUMBER: 04788257 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
26 Park Road
Melton Mowbray
Leicestershire
LE13 1TT

HUNT AND SWAIN LIMITED (REGISTERED NUMBER: 04788257)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,000
Property, plant and equipment 5 20,355 26,008
20,355 28,008

CURRENT ASSETS
Inventories 27,980 28,453
Debtors 6 47,384 65,263
Cash at bank and in hand 16,843 2,001
92,207 95,717
CREDITORS
Amounts falling due within one year 7 63,191 67,562
NET CURRENT ASSETS 29,016 28,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,371

56,163

CREDITORS
Amounts falling due after more than
one year

8

(6,300

)

(10,500

)

PROVISIONS FOR LIABILITIES (3,867 ) (4,942 )
NET ASSETS 39,204 40,721

HUNT AND SWAIN LIMITED (REGISTERED NUMBER: 04788257)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 39,104 40,621
SHAREHOLDERS' FUNDS 39,204 40,721

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

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

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 March 2024 and were signed on its behalf by:





T D Swain - Director


HUNT AND SWAIN LIMITED (REGISTERED NUMBER: 04788257)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Hunt and Swain Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economical life.

Property,plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Property, plant and equipment is stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories
Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 statement of financial position date.


HUNT AND SWAIN LIMITED (REGISTERED NUMBER: 04788257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 40,000
AMORTISATION
At 1 January 2023 38,000
Charge for year 2,000
At 31 December 2023 40,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 2,000

HUNT AND SWAIN LIMITED (REGISTERED NUMBER: 04788257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2023 98,592
Additions 515
At 31 December 2023 99,107
DEPRECIATION
At 1 January 2023 72,584
Charge for year 6,168
At 31 December 2023 78,752
NET BOOK VALUE
At 31 December 2023 20,355
At 31 December 2022 26,008

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 45,095 63,277
Prepayments 2,289 1,986
47,384 65,263

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,200 4,200
Hire purchase contracts - 312
Trade creditors 35,160 37,743
Taxation 7,820 3,262
Other taxes and social security 2,109 2,196
VAT 7,472 11,063
Directors' current accounts 4,063 6,563
Accrued expenses 2,367 2,223
63,191 67,562

HUNT AND SWAIN LIMITED (REGISTERED NUMBER: 04788257)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 4,200 4,200
Bank loans - 2-5 years 2,100 6,300
6,300 10,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 312

Hire purchase creditors are secured on the assets to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100