Company registration number 11554217 (England and Wales)
H&G ENGINEERING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
H&G ENGINEERING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
H&G ENGINEERING LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
61,699
94,023
Current assets
Debtors
4
140,275
376,059
Cash at bank and in hand
19,783
253,981
160,058
630,040
Creditors: amounts falling due within one year
5
(110,697)
(234,938)
Net current assets
49,361
395,102
Total assets less current liabilities
111,060
489,125
Creditors: amounts falling due after more than one year
6
(15,059)
(25,610)
Provisions for liabilities
(17,864)
(17,864)
Net assets
78,137
445,651
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
78,037
445,551
Total equity
78,137
445,651
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his 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.
H&G ENGINEERING LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2023
30 September 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 15 February 2024
I Harrod
Director
Company registration number 11554217 (England and Wales)
H&G ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
1
Accounting policies
Company information
H&G Engineering Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 79b Denford Road, Ringstead, Northants, England, NN14 4DF.
1.1
Accounting convention
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.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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:
Plant and equipment
33% SL
Computers
25% SL
Motor vehicles
33% SL
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.
H&G ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
10
10
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022
161,372
Additions
5,007
Disposals
(2,500)
At 30 September 2023
163,879
Depreciation and impairment
At 1 October 2022
67,349
Depreciation charged in the year
37,330
Eliminated in respect of disposals
(2,499)
At 30 September 2023
102,180
Carrying amount
At 30 September 2023
61,699
At 30 September 2022
94,023
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
73,213
376,059
Other debtors
67,062
140,275
376,059
H&G ENGINEERING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
19,865
11,052
Trade creditors
58,541
77,634
Taxation and social security
16,983
129,709
Other creditors
15,308
16,543
110,697
234,938
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,059
25,610