Company registration number 01285318 (England and Wales)
HAMMERSLEY & FITCHETT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HAMMERSLEY & FITCHETT LIMITED
COMPANY INFORMATION
Directors
Mr A. Kemp
T Fitchett
Company number
01285318
Registered office
Old Joules Works
Newcastle Street
Stone
Staffordshire
ST15 8JU
Accountants
Dains Accountants Limited
Suite 2, Albion House
2 Etruria Office Village
Forge Lane
Stoke on Trent
Staffordshire
ST1 5RQ
HAMMERSLEY & FITCHETT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
HAMMERSLEY & FITCHETT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
235,190
271,009
Current assets
Stocks
57,841
56,915
Debtors
5
244,809
225,382
Cash at bank and in hand
271
16,396
302,921
298,693
Creditors: amounts falling due within one year
6
(198,512)
(177,550)
Net current assets
104,409
121,143
Total assets less current liabilities
339,599
392,152
Creditors: amounts falling due after more than one year
7
(30,568)
(55,253)
Provisions for liabilities
(55,425)
(48,765)
Net assets
253,606
288,134
Capital and reserves
Called up share capital
2,050
2,050
Profit and loss reserves
251,556
286,084
Total equity
253,606
288,134
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
HAMMERSLEY & FITCHETT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 April 2024 and are signed on its behalf by:
Mr A. Kemp
Director
Company registration number 01285318 (England and Wales)
HAMMERSLEY & FITCHETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information
Hammersley & Fitchett Limited is a private company limited by shares incorporated in England and Wales. The registered office is Old Joules Works, Newcastle Street, Stone, Staffordshire, ST15 8JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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 office equipment
15% on reducing balance
Forklift trucks
15% on reducing balance
Motor vehicles
25% on reducing balance
Sales proceeds on the disposal of Fork Lift Trucks are credited to turnover, with the net book value debited to cost of sales.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
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.
HAMMERSLEY & FITCHETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
HAMMERSLEY & FITCHETT LIMITED
DETAILED BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 5 -
2023
2022
£
£
£
£
Fixed assets
Tangible assets
235,190
271,009
Current assets
Stocks
57,841
56,915
Debtors falling due after more than one year
70,000
70,000
Debtors falling due within one year
134,271
119,649
Prepayments and accrued income
40,538
35,733
Cash at bank and in hand
271
16,396
302,921
298,693
Creditors: amounts falling due within one year
Loans and overdrafts
50,897
10,000
Obligations under finance leases
14,668
25,233
Taxation and social security
55,156
41,713
Other creditors
58,063
77,308
Accruals and deferred income
19,728
23,296
198,512
177,550
Net current assets
104,409
121,143
Total assets less current liabilities
339,599
392,152
Creditors: amounts falling due after more than one year
Loans and overdrafts
14,151
24,167
Obligations under finance leases
16,417
31,086
(30,568)
(55,253)
Provisions for liabilities
Deferred tax liability
55,425
48,765
(55,425)
(48,765)
Net assets
253,606
288,134
Capital and reserves
Called up share capital
2,050
2,050
Profit and loss reserves
251,556
286,084
Total equity
253,606
288,134
HAMMERSLEY & FITCHETT LIMITED
DETAILED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 6 -
2
Operating profit
2023
2022
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
47,057
55,237
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
13
12
4
Tangible fixed assets
Plant and office equipment
Fork lift trucks
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
52,111
492,833
134,317
679,261
Additions
35,489
35,489
Disposals
(52,378)
(52,378)
At 31 December 2023
52,111
475,944
134,317
662,372
Depreciation and impairment
At 1 January 2023
44,326
276,868
87,058
408,252
Depreciation charged in the year
1,164
34,078
11,815
47,057
Eliminated in respect of disposals
(28,127)
(28,127)
At 31 December 2023
45,490
282,819
98,873
427,182
Carrying amount
At 31 December 2023
6,621
193,125
35,444
235,190
At 31 December 2022
7,785
215,965
47,259
271,009
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
134,271
119,649
Other debtors
40,538
35,733
174,809
155,382
HAMMERSLEY & FITCHETT LIMITED
DETAILED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
5
Debtors
(Continued)
- 7 -
2023
2022
Amounts falling due after more than one year:
£
£
Other debtors
70,000
70,000
Total debtors
244,809
225,382
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
50,897
10,000
Trade creditors
58,063
77,308
Taxation and social security
55,156
41,713
Other creditors
34,396
48,529
198,512
177,550
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
8
14,151
24,167
Obligations under finance leases
9
16,417
31,086
30,568
55,253
8
Loans and overdrafts
2023
2022
£
£
Bank loans
24,167
34,167
Bank overdrafts
40,881
65,048
34,167
Payable within one year
50,897
10,000
Payable after one year
14,151
24,167
HAMMERSLEY & FITCHETT LIMITED
DETAILED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 8 -
9
Finance lease obligations
2023
2022
Future minimum lease payments due under finance leases:
£
£
Within one year
14,668
25,233
In two to five years
16,417
31,086
31,085
56,319
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