HOUSE AND CARRIAGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2023
Company Registration Number: 06335527
HOUSE AND CARRIAGE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 9
HOUSE AND CARRIAGE LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023
DIRECTORS
C J D Schmidt
T E Skelton
SECRETARY
T E Skelton
REGISTERED OFFICE
Unit 2 Forest Works
Forest Road
Charlbury
Oxon
OX7 3HH
COMPANY REGISTRATION NUMBER
06335527 England and Wales
HOUSE AND CARRIAGE LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
Notes 2023 2022
£ £
FIXED ASSETS
Tangible assets 5 145,953 196,263
CURRENT ASSETS
Stock 10,220 11,647
Debtors 6 106,396 121,505
Cash at bank and in hand 147,992 104,650
264,608 237,802
CREDITORS: Amounts falling due within one year 7 279,209 309,071
NET CURRENT LIABILITIES (14,601) (71,269)
TOTAL ASSETS LESS CURRENT LIABILITIES 131,352 124,994
Provisions for liabilities and charges 36,488 37,290
NET ASSETS 94,864 87,704
CAPITAL AND RESERVES
Called up share capital 2,020 2,020
Distributable profit and loss account 92,844 85,684
SHAREHOLDERS' FUNDS 94,864 87,704
HOUSE AND CARRIAGE LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2023
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
C J D Schmidt T E Skelton
Director Director
Date approved by the board: 9 April 2024
HOUSE AND CARRIAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1 GENERAL INFORMATION
House and Carriage Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Unit 2 Forest Works
Forest Road
Charlbury
Oxon
OX7 3HH
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of the provision of removal services and the sale of associated goods as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts and value added tax.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rates so as to write off the cost or valuation of the assets less their residual value over their estimated useful lives.
Leasehold improvements Straight line basis at 10% per annum
Fixtures & fittings Reducing balance basis at 25% per annum
Motor vehicles Reducing balance basis at 25% per annum
Website Straight line basis at 25% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
HOUSE AND CARRIAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Stock
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis.
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
HOUSE AND CARRIAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Debtors
Short term debtors are measured at transaction price, less any impairment.
Loans receivable are measured initially at fair value, net of transaction costs, and subsequently at amortised cost, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Leases
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. Other leases that do not transfer substantially all the risks and rewards of ownership of the leased assets to the company are classified as operating leases.
Payments applicable to operating leases are charged against profit on a straight line basis over the lease term.
HOUSE AND CARRIAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Provisions
A provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use is recognised. The provision is measured at the salary cost payable for the period of absence.
Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and other post-retirement benefits is the amount payable in the year. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments in the balance sheet.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including the directors) during the year was:
2023 2022
Average number of employees 16 16
HOUSE AND CARRIAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
5 TANGIBLE ASSETS
Leasehold improvements Fixtures & fittings Motor vehicles Website Total
£ £ £ £ £
Cost
At 1 October 2022 40,784 182,001 333,394 17,404 573,583
Additions - 1,975 - - 1,975
Disposals - (1,103) (26,358) - (27,461)
At 30 September 2023 40,784 182,873 307,036 17,404 548,097
Accumulated depreciation and impairments
At 1 October 2022 27,081 128,784 207,314 14,141 377,320
Charge for year 2,429 13,633 31,252 3,263 50,577
Disposals - (777) (24,976) - (25,753)
At 30 September 2023 29,510 141,640 213,590 17,404 402,144
Net book value
At 1 October 2022 13,703 53,217 126,080 3,263 196,263
At 30 September 2023 11,274 41,233 93,446 - 145,953
6 DEBTORS
2023 2022
£ £
Trade debtors 17,768 17,249
Prepayments and accrued income 65,691 63,081
Other debtors 22,937 41,175
106,396 121,505
7 CREDITORS: Amounts falling due within one year
2023 2022
£ £
Trade creditors 45,131 21,588
Taxation and social security 104,583 123,645
Accruals and deferred income 85,729 44,376
Other creditors 43,766 119,462
279,209 309,071
HOUSE AND CARRIAGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
8 CONTINGENCIES AND COMMITMENTS
Other Commitments
Amounts falling due under operating leases: 2023 2022
£ £
In less than one year 137,532 186,310
In more than one but less than five years 410,128 571,943
In more than five years 738,639 828,171
1,286,299 1,586,424
9 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the year:
Balance at 1 October 2022 Amounts advanced Amounts repaid Balance at 30 September 2023
£ £ £ £
C J D Schmidt 40,337 - 40,337 -
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
10 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
C J D Schmidt
Director 2023 2022
£ £
Advances from director
The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: 776 -
T E Skelton
Director 2023 2022
£ £
Advances from director
The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the following amount: 16,161 86,016
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