Registered number
13348522
Hancox Bros Ltd
Filleted Accounts
31 July 2023
Hancox Bros Ltd
Registered number: 13348522
Balance Sheet
as at 31 July 2023
Notes 31/7/23 31/3/23
£ £
Fixed assets
Tangible assets 3 1,003,414 1,000,193
Current assets
Debtors 4 5,879 -
Cash at bank and in hand 46,400 17,946
52,279 17,946
Creditors: amounts falling due within one year 5 (1,077,966) (1,122,626)
Net current liabilities (1,025,687) (1,104,680)
Net liabilities (22,273) (104,487)
Capital and reserves
Called up share capital 100 100
Profit and loss account (22,373) (104,587)
Shareholders' funds (22,273) (104,487)
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.
Gavin Hancox
Director
Approved by the board on 24 April 2024
Hancox Bros Ltd
Notes to the Accounts
for the period from 1 April 2023 to 31 July 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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 31/7/23 31/3/23
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 755,000 211,181 87,585 1,053,766
Additions - - 14,995 14,995
At 31 July 2023 755,000 211,181 102,580 1,068,761
Depreciation
At 1 April 2023 - 31,677 21,896 53,573
Charge for the period - 6,731 5,043 11,774
At 31 July 2023 - 38,408 26,939 65,347
Net book value
At 31 July 2023 755,000 172,773 75,641 1,003,414
At 31 March 2023 755,000 179,504 65,689 1,000,193
4 Debtors 31/7/23 31/3/23
£ £
Other debtors 5,879 -
5 Creditors: amounts falling due within one year 31/7/23 31/3/23
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 731,801 809,301
Taxation and social security costs 568 (29,424)
Directors Loan Account 344,647 342,199
Other creditors 950 550
1,077,966 1,122,626
6 Other information
Hancox Bros Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Chapel Farm
Old Trough Lane
Sandholme
Brough
HU15 2XW
Hancox Bros Ltd 13348522 false 2023-04-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 Gavin Hancox No description of principal activity 13348522 2022-04-01 2023-03-31 13348522 core:WithinOneYear 2023-03-31 13348522 core:ShareCapital 2023-03-31 13348522 core:RetainedEarningsAccumulatedLosses 2023-03-31 13348522 2023-04-01 2023-07-31 13348522 bus:PrivateLimitedCompanyLtd 2023-04-01 2023-07-31 13348522 bus:AuditExempt-NoAccountantsReport 2023-04-01 2023-07-31 13348522 bus:Director40 2023-04-01 2023-07-31 13348522 1 2023-04-01 2023-07-31 13348522 2 2023-04-01 2023-07-31 13348522 core:LandBuildings 2023-04-01 2023-07-31 13348522 core:PlantMachinery 2023-04-01 2023-07-31 13348522 core:Vehicles 2023-04-01 2023-07-31 13348522 countries:England 2023-04-01 2023-07-31 13348522 bus:FRS102 2023-04-01 2023-07-31 13348522 bus:FullAccounts 2023-04-01 2023-07-31 13348522 2023-07-31 13348522 core:WithinOneYear 2023-07-31 13348522 core:ShareCapital 2023-07-31 13348522 core:RetainedEarningsAccumulatedLosses 2023-07-31 13348522 core:LandBuildings 2023-07-31 13348522 core:PlantMachinery 2023-07-31 13348522 core:Vehicles 2023-07-31 13348522 2023-03-31 13348522 core:LandBuildings 2023-03-31 13348522 core:PlantMachinery 2023-03-31 13348522 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure