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REGISTERED NUMBER: 07500254 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 January 2024

for

S & N Hicks Ltd

S & N Hicks Ltd (Registered number: 07500254)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


S & N Hicks Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: S Hicks
N J Hicks





SECRETARY: S Hicks





REGISTERED OFFICE: 8 Browning Road
Heathfield
East Sussex
TN21 8DB





REGISTERED NUMBER: 07500254 (England and Wales)





ACCOUNTANTS: G. A. Hicks - Accountant
14 Meadow Way
Heathfield
East Sussex
TN21 8AL

S & N Hicks Ltd (Registered number: 07500254)

Report of the Directors
for the Year Ended 31 January 2024

The directors present their report with the financial statements of the company for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of MOT testing, motor vehicle repairs and servicing.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2023 to the date of this report.

S Hicks
N J Hicks

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S Hicks - Director


1 August 2024

S & N Hicks Ltd (Registered number: 07500254)

Income Statement
for the Year Ended 31 January 2024

31.1.24 31.1.23
Notes £    £   

TURNOVER 541,960 457,266

Cost of sales 366,025 276,107
GROSS PROFIT 175,935 181,159

Administrative expenses 142,036 137,418
OPERATING PROFIT 4 33,899 43,741


Interest payable and similar
expenses

11,993

11,458
PROFIT BEFORE TAXATION 21,906 32,283

Tax on profit 4,161 6,188
PROFIT FOR THE FINANCIAL YEAR 17,745 26,095

S & N Hicks Ltd (Registered number: 07500254)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 33,009 42,015

CURRENT ASSETS
Stocks 2,250 2,500
Debtors 6 3,184 2,894
Cash at bank 48,096 41,668
53,530 47,062
CREDITORS
Amounts falling due within one year 7 56,301 42,224
NET CURRENT (LIABILITIES)/ASSETS (2,771 ) 4,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,238

46,853

PROVISIONS FOR LIABILITIES 5,531 7,196
NET ASSETS 24,707 39,657

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 24,607 39,557
24,707 39,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

S & N Hicks Ltd (Registered number: 07500254)

Balance Sheet - continued
31 January 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





N J Hicks - Director


S & N Hicks Ltd (Registered number: 07500254)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

S & N Hicks Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


S & N Hicks Ltd (Registered number: 07500254)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.1.24 31.1.23
£    £   
Depreciation - owned assets 8,915 9,181

S & N Hicks Ltd (Registered number: 07500254)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 36,580 49,167 85,747
DEPRECIATION
At 1 February 2023 29,917 13,815 43,732
Charge for year 1,000 8,006 9,006
At 31 January 2024 30,917 21,821 52,738
NET BOOK VALUE
At 31 January 2024 5,663 27,346 33,009
At 31 January 2023 6,663 35,352 42,015

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 3,900
DEPRECIATION
At 1 February 2023 3,295
Charge for year 91
At 31 January 2024 3,386
NET BOOK VALUE
At 31 January 2024 514
At 31 January 2023 605

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 3,184 2,894

S & N Hicks Ltd (Registered number: 07500254)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade creditors 19,201 18,010
Taxation and social security 13,150 9,652
Other creditors 23,950 14,562
56,301 42,224