REGISTERED NUMBER: |
W.Hanson(Iron Bridge)Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
REGISTERED NUMBER: |
W.Hanson(Iron Bridge)Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
W.Hanson(Iron Bridge)Limited (Registered number: 00548293) |
Contents of the Financial Statements |
for the year ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
W.Hanson(Iron Bridge)Limited |
Company Information |
for the year ended 31 July 2023 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
178 Buckingham Avenue |
Slough |
Berkshire |
SL1 4RD |
W.Hanson(Iron Bridge)Limited (Registered number: 00548293) |
Balance Sheet |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
Provisions for liabilities | 9 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Revaluation reserve | 11 |
Capital redemption reserve | 11 |
Retained earnings | 11 |
Shareholders' funds |
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. |
W.Hanson(Iron Bridge)Limited (Registered number: 00548293) |
Balance Sheet - continued |
31 July 2023 |
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 |
W.Hanson(Iron Bridge)Limited (Registered number: 00548293) |
Notes to the Financial Statements |
for the year ended 31 July 2023 |
1. | Statutory information |
W. Hanson (Iron Bridge) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00548293 and the registered office address is 178 Buckingham Avenue, Slough, Berkshire SL1 4RD. |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be and have been undertaken to mitigate the current conditions, and with the current resources available, the Directors have concluded that the company is in a strong position and that the going concern basis continues to be applicable. |
Key sources of estimation uncertainty and judgements |
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. |
Turnover |
Turnover comprises revenue recognised by the company in respect of timber and building merchant services supplied during the year, exclusive of Value Added Tax and trade discounts. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, 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 balance sheet date. |
W.Hanson(Iron Bridge)Limited (Registered number: 00548293) |
Notes to the Financial Statements - continued |
for the year ended 31 July 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 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. |
Operating leases |
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term. |
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. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
3. | Employees and directors |
The average number of employees during the year was |
W.Hanson(Iron Bridge)Limited (Registered number: 00548293) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
4. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 August 2022 |
Additions |
At 31 July 2023 |
Depreciation |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
Net book value |
At 31 July 2023 |
At 31 July 2022 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments and accrued income |
Included within other debtors is an amount of £825,468 (2022 - £655,268) owed by RS Developments Limited, a related party. |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
7. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 236,715 | 298,035 |
W.Hanson(Iron Bridge)Limited (Registered number: 00548293) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2023 |
8. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
9. | Provisions for liabilities |
2023 | 2022 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred tax |
£ |
Balance at 1 August 2022 |
Balance at 31 July 2023 |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
Value: | £ | £ |
1,067 | Ordinary-A | £1 | 1,067 | 1067 |
20 | Ordinary-B | £1 | 20 | 22 |
20 | Ordinary-C | £1 | 20 | 22 |
1,089 | Ordinary-D | £1 | 1,089 | 1,089 |
2 | Ordinary-E | £1 | 2 | 2 |
2 | Ordinary-F | £1 | 2 | 2 |
2,200 | 2,200 |
11. | Reserves |
Capital |
Retained | Revaluation | redemption |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 August 2022 | 1,363,533 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 July 2023 | 1,544,516 |