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Registered number: 07411455
Heritage Sheds and Fencing Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4LY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07411455
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 86,636 107,616
86,636 107,616
CURRENT ASSETS
Stocks 5 171,721 313,826
Debtors 6 186,930 214,712
Cash at bank and in hand 12,319 14,663
370,970 543,201
Creditors: Amounts Falling Due Within One Year 7 (295,965 ) (248,783 )
NET CURRENT ASSETS (LIABILITIES) 75,005 294,418
TOTAL ASSETS LESS CURRENT LIABILITIES 161,641 402,034
Creditors: Amounts Falling Due After More Than One Year 8 (5,850 ) (23,980 )
NET ASSETS 155,791 378,054
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 155,790 378,053
SHAREHOLDERS' FUNDS 155,791 378,054
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For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Roger Sampson
Director
30th July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Heritage Sheds and Fencing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07411455 . The registered office is Dunkley's Accountants,, Woodlands Grange Woodlands Lane, Bradley Stoke, Bristol, England, BS32 4JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 25% reducing balance
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.6. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2022: 16)
15 16
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 November 2022 44,180 172,162 72,283 7,374 295,999
Additions 5,658 1,360 - 107 7,125
As at 31 October 2023 49,838 173,522 72,283 7,481 303,124
Depreciation
As at 1 November 2022 27,530 107,399 47,671 5,783 188,383
Provided during the period 5,220 16,329 6,154 402 28,105
As at 31 October 2023 32,750 123,728 53,825 6,185 216,488
Net Book Value
As at 31 October 2023 17,088 49,794 18,458 1,296 86,636
As at 1 November 2022 16,650 64,763 24,612 1,591 107,616
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2023 2022
£ £
Motor Vehicles 32,474 49,965
5. Stocks
2023 2022
£ £
Finished goods 171,721 313,826
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 90,332 63,063
Other debtors 5,404 2,032
Director's loan account - 50,000
95,736 115,095
Due after more than one year
Other debtors 91,194 99,617
186,930 214,712
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 18,130 19,416
Trade creditors 132,926 166,106
Bank loans and overdrafts 89,994 26,294
Corporation tax - (13,701 )
Other taxes and social security 3,917 12,267
VAT 49,579 21,755
Other creditors 1,198 16,492
Director's loan account 221 154
295,965 248,783
Obligations under finance lease and hire purchase agreements are secured against the asset to which they relate.
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 5,850 23,980
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 18,130 19,416
Later than one year and not later than five years 5,850 23,980
23,980 43,396
23,980 43,396
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
11. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £1,198 (2022 £966) were due to the fund. They are included in Other Creditors.
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