Hornbuckle Mitchell & Co.Limited 00569588 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is that of letting property. This remains unchanged since last year Digita Accounts Production Advanced 6.30.9574.0 true 00569588 2022-08-01 2023-07-31 00569588 2023-07-31 00569588 bus:OrdinaryShareClass1 2023-07-31 00569588 core:RetainedEarningsAccumulatedLosses 2023-07-31 00569588 core:RevaluationReserve 2023-07-31 00569588 core:ShareCapital 2023-07-31 00569588 core:CurrentFinancialInstruments 2023-07-31 00569588 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 00569588 core:Non-currentFinancialInstruments 2023-07-31 00569588 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 00569588 core:FurnitureFittingsToolsEquipment 2023-07-31 00569588 core:MotorVehicles 2023-07-31 00569588 bus:SmallEntities 2022-08-01 2023-07-31 00569588 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 00569588 bus:FullAccounts 2022-08-01 2023-07-31 00569588 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 00569588 bus:RegisteredOffice 2022-08-01 2023-07-31 00569588 bus:Director2 2022-08-01 2023-07-31 00569588 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 00569588 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 00569588 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 00569588 core:MotorVehicles 2022-08-01 2023-07-31 00569588 core:PlantMachinery 2022-08-01 2023-07-31 00569588 countries:England 2022-08-01 2023-07-31 00569588 2022-07-31 00569588 core:FurnitureFittingsToolsEquipment 2022-07-31 00569588 core:MotorVehicles 2022-07-31 00569588 2021-08-01 2022-07-31 00569588 2022-07-31 00569588 bus:OrdinaryShareClass1 2022-07-31 00569588 core:RetainedEarningsAccumulatedLosses 2022-07-31 00569588 core:RevaluationReserve 2022-07-31 00569588 core:ShareCapital 2022-07-31 00569588 core:CurrentFinancialInstruments 2022-07-31 00569588 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 00569588 core:Non-currentFinancialInstruments 2022-07-31 00569588 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 00569588 core:FurnitureFittingsToolsEquipment 2022-07-31 00569588 core:MotorVehicles 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00569588

Hornbuckle Mitchell & Co.Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Hornbuckle Mitchell & Co.Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Hornbuckle Mitchell & Co.Limited

(Registration number: 00569588)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,743

2,235

Investment property

5

356,333

356,333

 

358,076

358,568

Current assets

 

Debtors

6

138,522

168,772

Cash at bank and in hand

 

5,508

3,613

Other debtors

 

-

2,316

 

144,030

174,701

Creditors: Amounts falling due within one year

7

(156,530)

(155,922)

Net current (liabilities)/assets

 

(12,500)

18,779

Total assets less current liabilities

 

345,576

377,347

Creditors: Amounts falling due after more than one year

7

(22,585)

(32,407)

Provisions for liabilities

(7,184)

(7,277)

Net assets

 

315,807

337,663

Capital and reserves

 

Called up share capital

8

1,800

1,800

Revaluation reserve

169,158

169,158

Profit and loss account

144,849

166,705

Shareholders' funds

 

315,807

337,663

For the financial year ending 31 July 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.

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.

 

Hornbuckle Mitchell & Co.Limited

(Registration number: 00569588)
Balance Sheet as at 31 July 2023

Approved and authorised by the Board on 22 April 2024 and signed on its behalf by:
 


Mr A Powell
Director

   
 

Hornbuckle Mitchell & Co.Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

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

The address of its registered office is:
The Poplars
Bridge Street
Brigg
North Lincolnshire
DN20 8NQ

Registration number: 00569588

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.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Hornbuckle Mitchell & Co.Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

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

Plant and machinery

10-33% on written down value

Motor vehicles

25% on written down value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Hornbuckle Mitchell & Co.Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2022 - 2).

 

Hornbuckle Mitchell & Co.Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2022

5,487

24,610

30,097

At 31 July 2023

5,487

24,610

30,097

Depreciation

At 1 August 2022

5,043

22,819

27,862

Charge for the year

44

448

492

At 31 July 2023

5,087

23,267

28,354

Carrying amount

At 31 July 2023

400

1,343

1,743

At 31 July 2022

444

1,791

2,235

5

Investment properties

2023
£

At 1 August

356,333

At 31 July

356,333

The investment properties are held at fair value based on market conditons at the reporting date. The directors do not believe there has been a change in market value during the year.

There has been no valuation of investment property by an independent valuer.

 

Hornbuckle Mitchell & Co.Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

8,333

8,333

Other debtors

130,189

160,439

 

138,522

168,772

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

9,688

119,595

Amounts due to related parties

111,575

4,351

Social security and other taxes

 

22,011

19,197

Other payables

 

13,256

12,779

 

156,530

155,922

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

22,585

32,407

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,800

1,800

1,800

1,800

         

9

Reserves

The fair value reserve brought forward and carried forward is £169,158.

 

Hornbuckle Mitchell & Co.Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,688

9,548

Other borrowings

-

110,047

9,688

119,595

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

22,585

32,407