Company Registration No. 11688859 (England and Wales)
Hurdman Art Frames Ltd
Unaudited accounts
for the year ended 30 November 2023
Hurdman Art Frames Ltd
Unaudited accounts
Contents
Hurdman Art Frames Ltd
Company Information
for the year ended 30 November 2023
Company Number
11688859 (England and Wales)
Registered Office
21 Darville Road
London
N16 7PT
Hurdman Art Frames Ltd
Statement of financial position
as at 30 November 2023
Tangible assets
24,938
35,183
Cash at bank and in hand
42,194
84,993
Creditors: amounts falling due within one year
(33,549)
(31,661)
Net current assets
58,995
81,869
Total assets less current liabilities
83,933
117,052
Provisions for liabilities
Deferred tax
(4,357)
(6,170)
Called up share capital
100
100
Profit and loss account
79,476
110,782
Shareholders' funds
79,576
110,882
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 July 2024 and were signed on its behalf by
Thomas Hurdman
Director
Company Registration No. 11688859
Hurdman Art Frames Ltd
Notes to the Accounts
for the year ended 30 November 2023
Hurdman Art Frames Ltd is a private company, limited by shares, registered in England and Wales, registration number 11688859. The registered office is 21 Darville Road, London, N16 7PT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5 years on cost
Motor vehicles
4 years on reducing balance
Computer equipment
3 years on cost
Inventories have been valued at the lower of cost and net realisable value.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Hurdman Art Frames Ltd
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
11,944
38,475
1,227
51,646
At 30 November 2023
11,944
38,475
1,227
51,646
At 1 December 2022
8,823
6,413
1,227
16,463
Charge for the year
2,229
8,016
-
10,245
At 30 November 2023
11,052
14,429
1,227
26,708
At 30 November 2023
892
24,046
-
24,938
At 30 November 2022
3,121
32,062
-
35,183
Amounts falling due within one year
Accrued income and prepayments
1,581
1,609
Other debtors
33,637
3,750
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
5,987
4,724
Taxes and social security
17,883
17,024
Other creditors
8,864
9,138
7
Operating lease commitments
2023
2022
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
2,700
15,000
Hurdman Art Frames Ltd
Notes to the Accounts
for the year ended 30 November 2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Included in other debtors
(173)
79,005
48,945
29,887
(173)
79,005
48,945
29,887
Interest is charged on the loan at the official rate. The loan was repaid in full within nine months of the yearend.
9
Average number of employees
During the year the average number of employees was 1 (2022: 0).