Registered number
11621124
M A Hans & Sons Ltd
Filleted Accounts
31 October 2023
M A Hans & Sons Ltd
Registered number: 11621124
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,095,215 1,659,755
Current assets
Stocks 157,994 134,766
Debtors 4 79,025 189,352
Cash at bank and in hand 998,153 647,555
1,235,172 971,673
Creditors: amounts falling due within one year 5 (420,411) (297,879)
Net current assets 814,761 673,794
Total assets less current liabilities 4,909,976 2,333,549
Creditors: amounts falling due after more than one year 6 (2,757,322) (977,262)
Provisions for liabilities (23,383) -
Net assets 2,129,271 1,356,287
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,129,171 1,356,187
Shareholders' funds 2,129,271 1,356,287
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.
Mohamed A Hans
Director
Approved by the board on 26 July 2024
M A Hans & Sons Ltd
Notes to the Accounts
for the year ended 31 October 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:
Leasehold buildings over term of the lease
Freehold buildings over 50 years
Investment property nil
Plant and machinery 25% Reducing Balance
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 27 28
3 Tangible fixed assets
Land and buildings Investment property Plant and machinery etc Total
£ £ £ £
Cost
At 1 November 2022 1,680,820 - 288,057 1,968,877
Additions - 2,500,508 9,979 2,510,487
At 31 October 2023 1,680,820 2,500,508 298,036 4,479,364
Depreciation
At 1 November 2022 135,792 - 173,330 309,122
Charge for the year 43,851 - 31,176 75,027
At 31 October 2023 179,643 - 204,506 384,149
Net book value
At 31 October 2023 1,501,177 2,500,508 93,530 4,095,215
At 31 October 2022 1,545,028 - 114,727 1,659,755
The fair value of the investment property has been determined by the directors by reference to recent market prices of similar properties.
4 Debtors 2023 2022
£ £
Trade debtors 78,502 188,829
Other debtors 523 523
79,025 189,352
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 117,857 91,429
Taxation and social security costs 296,122 199,807
Other creditors 6,432 6,643
420,411 297,879
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 2,757,322 977,262
7 Related party transactions
Other creditors includes an interest free loan from the directors and close family members of £2,757,322 (2022: £977,262). No repayment date has been fixed except that the loan is not repayable within 1 year.
8 Controlling party
There is no ultimate controlling party.
9 Other information
M A Hans & Sons Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Dearne Valley Garage
Wakefield Road
Huddersfield
West Yorkshire
HD8 9HU
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