Silverfin false false 31/10/2023 01/11/2022 31/10/2023 Mr D R Hunt 30/05/2001 Mr M J Hunt Deceased 25/05/2024 30/05/2001 Mrs V J Hunt 30/05/2001 02 August 2024 The principal activity of the Company during the financial year was building contractors. 04225568 2023-10-31 04225568 bus:Director1 2023-10-31 04225568 bus:Director2 2023-10-31 04225568 bus:Director3 2023-10-31 04225568 2022-10-31 04225568 core:CurrentFinancialInstruments 2023-10-31 04225568 core:CurrentFinancialInstruments 2022-10-31 04225568 core:ShareCapital 2023-10-31 04225568 core:ShareCapital 2022-10-31 04225568 core:RetainedEarningsAccumulatedLosses 2023-10-31 04225568 core:RetainedEarningsAccumulatedLosses 2022-10-31 04225568 core:PlantMachinery 2022-10-31 04225568 core:PlantMachinery 2023-10-31 04225568 2022-11-01 2023-10-31 04225568 bus:FilletedAccounts 2022-11-01 2023-10-31 04225568 bus:SmallEntities 2022-11-01 2023-10-31 04225568 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 04225568 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 04225568 bus:Director1 2022-11-01 2023-10-31 04225568 bus:Director2 2022-11-01 2023-10-31 04225568 bus:Director3 2022-11-01 2023-10-31 04225568 core:PlantMachinery 2022-11-01 2023-10-31 04225568 2021-11-01 2022-10-31 iso4217:GBP xbrli:pure

Company No: 04225568 (England and Wales)

HUNT & SONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

HUNT & SONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

HUNT & SONS LIMITED

BALANCE SHEET

As at 31 October 2023
HUNT & SONS LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,014 2,406
2,014 2,406
Current assets
Stocks 4 2,604,220 2,604,220
Debtors 5 2,897 6,179
Cash at bank and in hand 576,572 570,133
3,183,689 3,180,532
Creditors: amounts falling due within one year 6 ( 1,364,391) ( 1,364,154)
Net current assets 1,819,298 1,816,378
Total assets less current liabilities 1,821,312 1,818,784
Net assets 1,821,312 1,818,784
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 1,820,312 1,817,784
Total shareholders' funds 1,821,312 1,818,784

For the financial 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.

Directors' responsibilities:

The financial statements of Hunt & Sons Limited (registered number: 04225568) were approved and authorised for issue by the Board of Directors on 02 August 2024. They were signed on its behalf by:

Mr D R Hunt
Director
HUNT & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
HUNT & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hunt & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

The company is run and administered by the directors of the company for whom no formal contracts of service are in place.

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 November 2022 8,320 8,320
At 31 October 2023 8,320 8,320
Accumulated depreciation
At 01 November 2022 5,914 5,914
Charge for the financial year 392 392
At 31 October 2023 6,306 6,306
Net book value
At 31 October 2023 2,014 2,014
At 31 October 2022 2,406 2,406

4. Stocks

2023 2022
£ £
Work in progress 2,604,220 2,604,220

5. Debtors

2023 2022
£ £
Trade debtors 2,897 6,179

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 1,154 ( 809)
Other creditors 1,363,237 1,364,963
1,364,391 1,364,154

7. Related party transactions

Other related party transactions

2023 2022
£ £
Hunt & Sons 1,359,863 1,361,651

A partnership which the directors of the company are the partners. There is a loan account between the company and the partnership. The loan is interest free and repayable on demand.