Simon Florey & Son Marquee Hire Limited 06619422 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is the hire of marquees and ancillary equipment Digita Accounts Production Advanced 6.30.9574.0 true true 06619422 2022-07-01 2023-06-30 06619422 2023-06-30 06619422 bus:Director2 1 2023-06-30 06619422 bus:OrdinaryShareClass1 2023-06-30 06619422 bus:OrdinaryShareClass2 2023-06-30 06619422 core:CurrentFinancialInstruments 2023-06-30 06619422 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 06619422 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 06619422 core:FurnitureFittingsToolsEquipment 2023-06-30 06619422 core:LandBuildings 2023-06-30 06619422 core:MotorVehicles 2023-06-30 06619422 core:PlantMachinery 2023-06-30 06619422 core:AllAssociates 2023-06-30 06619422 bus:SmallEntities 2022-07-01 2023-06-30 06619422 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 06619422 bus:FilletedAccounts 2022-07-01 2023-06-30 06619422 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 06619422 bus:RegisteredOffice 2022-07-01 2023-06-30 06619422 bus:Director1 2022-07-01 2023-06-30 06619422 bus:Director2 2022-07-01 2023-06-30 06619422 bus:Director2 1 2022-07-01 2023-06-30 06619422 bus:Director3 2022-07-01 2023-06-30 06619422 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 06619422 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 06619422 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06619422 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 06619422 core:LandBuildings 2022-07-01 2023-06-30 06619422 core:MotorVehicles 2022-07-01 2023-06-30 06619422 core:PlantMachinery 2022-07-01 2023-06-30 06619422 core:AllAssociates 2022-07-01 2023-06-30 06619422 countries:England 2022-07-01 2023-06-30 06619422 2022-06-30 06619422 bus:Director2 1 2022-06-30 06619422 core:FurnitureFittingsToolsEquipment 2022-06-30 06619422 core:LandBuildings 2022-06-30 06619422 core:MotorVehicles 2022-06-30 06619422 core:AllAssociates 2022-06-30 06619422 2021-07-01 2022-06-30 06619422 2022-06-30 06619422 bus:Director2 1 2022-06-30 06619422 bus:OrdinaryShareClass1 2022-06-30 06619422 bus:OrdinaryShareClass2 2022-06-30 06619422 core:CurrentFinancialInstruments 2022-06-30 06619422 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 06619422 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 06619422 core:FurnitureFittingsToolsEquipment 2022-06-30 06619422 core:LandBuildings 2022-06-30 06619422 core:MotorVehicles 2022-06-30 06619422 core:PlantMachinery 2022-06-30 06619422 core:AllAssociates 2022-06-30 06619422 bus:Director2 1 2021-07-01 2022-06-30 06619422 core:AllAssociates 2021-07-01 2022-06-30 06619422 2021-06-30 06619422 bus:Director2 1 2021-06-30 06619422 core:AllAssociates 2021-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06619422

Simon Florey & Son Marquee Hire Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2023

 

Simon Florey & Son Marquee Hire Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 10

 

Simon Florey & Son Marquee Hire Limited

Company Information

Directors

Mr SC Florey

Mr PJW Florey

Mr C M J Talbot

Registered office

Hale Barn
Hale Farm
Kingston Lisle
Oxford
Oxfordshire
OX12 9QZ

Accountants

Lucas Accountancy Limited
Chartered Accountants
198 Woodstock Road
Yarnton
Kidlington
Oxfordshire
OX5 1PP

 

Simon Florey & Son Marquee Hire Limited

(Registration number: 06619422)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

951,740

668,925

Current assets

 

Debtors

5

593,396

643,747

Cash at bank and in hand

 

30,313

55,126

 

623,709

698,873

Prepayments and accrued income

 

15,160

4,448

Creditors: Amounts falling due within one year

6.1

(326,225)

(312,332)

Net current assets

 

312,644

390,989

Total assets less current liabilities

 

1,264,384

1,059,914

Creditors: Amounts falling due after more than one year

6.2

(57,308)

(87,208)

Provisions for liabilities

(193,242)

(126,014)

Accruals and deferred income

 

(3,200)

(3,200)

Net assets

 

1,010,634

843,492

Capital and reserves

 

Called up share capital

7

200

200

Revaluation reserve

231,679

265,048

Retained earnings

778,755

578,244

Shareholders' funds

 

1,010,634

843,492

For the financial year ending 30 June 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.

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.

 

Simon Florey & Son Marquee Hire Limited

(Registration number: 06619422)
Abridged Balance Sheet as at 30 June 2023

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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.

Approved and authorised by the Board on 3 April 2024 and signed on its behalf by:
 

.........................................

Mr PJW Florey - Director

 

Simon Florey & Son Marquee Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
Hale Barn
Hale Farm
Kingston Lisle
Oxford
Oxfordshire
OX12 9QZ
England

These financial statements were authorised for issue by the Board on 3 April 2024.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

Simon Florey & Son Marquee Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 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

The directors have decided to apply FRS 102 10.10A and move to a policy to revalue assets in accordance with Section 17 of FRS 102. Therefore, tangible assets are stated in the statement of financial position at value, less any subsequent accumulated depreciation and subsequent accumulated imparement losses.

The value of tangible assets includes directly attributable incremental costs incurred in their accuisition and installation.

Depreciation

Depreciation is charged so as to write off the value of assets, other than land and properties under construction over their estimated useful lives, The total depreciation amount is taken to the profit and loss account for the year. There is then a transfer between the revaluation reserve and the profit and loss reserve for the excess depreciation above cost.The rates are as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Plant and machinery

10% reducing balance basis

Leasehold improvements

10% striaght line basis

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.

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.

 

Simon Florey & Son Marquee Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 5).

 

Simon Florey & Son Marquee Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

2,397

1,056,414

135,348

1,194,159

Additions

117,925

221,495

38,077

377,497

At 30 June 2023

120,322

1,277,909

173,425

1,571,656

Depreciation

At 1 July 2022

-

450,936

74,298

525,234

Charge for the year

8,305

65,209

21,168

94,682

At 30 June 2023

8,305

516,145

95,466

619,916

Carrying amount

At 30 June 2023

112,017

761,764

77,959

951,740

At 30 June 2022

2,397

605,478

61,050

668,925

Included within the net book value of land and buildings above is £112,017 (2022 - £2,397) in respect of short leasehold land and buildings.
 

Revaluation

The fair value of the company's motor vehicles was revalued on 1 July 2018. An independent valuer was not involved.
The directors have reviewed the second hand vehicle market and assessed whether the vehicles that were revalued on 1 July 2018 are still reasonable at their revised depreciation value. They have concluded that the valuations are reasonable and therefore no revaluation was carried out during the year.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £71,985 (2022 - £53,085).

The fair value of the company's marquee plant and equipment was revalued on 1 July 2018. An independent valuer was not involved.
The directors have reviewed the second hand market value of equipment and assessed whether the equipment that were revalued on 1 July 2018 is still reasonable at their revised depreciation value. They have concluded that the values are reasonable and therefore no revaluation was carried out during the year.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £482,282 (2022 - £294,942).

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

 

Simon Florey & Son Marquee Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

Creditors due within one year include a loan under the Coronavirus Business Interruption Loan Scheme The amount due within 1 year is £29,900 (2022: £29,900)

Creditors: amounts falling due after more than one year

Creditors falling due after more than one year include a loan under the Coronavirus Business Interruption Loan Scheme The amount due after 1 year is £57,308 (2022: £87,208)

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A Voting of £1 each

100

100

100

100

Ordinary B Non Voting of £1 each

100

100

100

100

200

200

200

200

8

Dividends

2023

2022

£

£

Interim dividend of £206,000.00 (2022 - £60,000.00) per ordinary share

206,000

60,000

 

 

The directors are recommending a final dividend of £1,150.00 (2022 - £660.00) per share totalling £115,000.00 (2022 - £66,000.00). This dividend has not been accrued in the balance sheet.

9

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are guarantees of £87,208 (2022 - £117,108). The Bank Loan is guaranteed by the government under the Coronavirus Business Interruption Loan Scheme

10

Related party transactions

 

Simon Florey & Son Marquee Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Transactions with directors

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr PJW Florey

Interest free loan

65,848

69,040

(136,000)

(1,111)

2022

At 1 July 2021
£

Advances to director
£

At 30 June 2022
£

Mr PJW Florey

Interest free loan

(14,609)

80,457

65,848

 

Simon Florey & Son Marquee Hire Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

56,775

19,907

Contributions paid to money purchase schemes

1,133

-

57,908

19,907

Summary of transactions with associates

An interest free loan from the company to Furniture for Functions Ltd, which is repayable on demand
 

Loans to related parties

2023

Associates
£

Total
£

At start of period

285,690

285,690

Advanced

63,000

63,000

At end of period

348,690

348,690

2022

Associates
£

Total
£

At start of period

(21,310)

(21,310)

Advanced

307,000

307,000

At end of period

285,690

285,690