D.H. & H.H. Ford Limited
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 01126548 (England and Wales)
D.H. & H.H. Ford Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
380,000
380,000
Current assets
Cash at bank and in hand
40,524
31,562
Creditors: amounts falling due within one year
5
(26,324)
(26,866)
Net current assets
14,200
4,696
Total assets less current liabilities
394,200
384,696
Provisions for liabilities
6
(53,989)
(53,989)
Net assets
340,211
330,707
Capital and reserves
Called up share capital
7
12,766
12,766
Revaluation reserve
161,978
161,978
Profit and loss reserves
165,467
155,963
Total equity
340,211
330,707

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

D.H. & H.H. Ford Limited
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 6 August 2024
I. S. Ford
Director
Company Registration No. 01126548
D.H. & H.H. Ford Limited
Statement of Changes in Equity
For the year ended 31 March 2024
Page 3
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
12,766
190,136
149,574
352,476
Year ended 31 March 2023:
Loss for the year
-
-
(11,769)
(11,769)
Other comprehensive income:
Tax relating to other comprehensive income
-
(28,158)
28,158
-
Total comprehensive income for the year
-
(28,158)
16,389
(39,927)
Dividends
3
-
-
(10,000)
(10,000)
Balance at 31 March 2023
12,766
161,978
155,963
330,707
Year ended 31 March 2024:
Profit and total comprehensive income for the year
-
-
19,504
19,504
Dividends
3
-
-
(10,000)
(10,000)
Balance at 31 March 2024
12,766
161,978
165,467
340,211
D.H. & H.H. Ford Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 4
1
Accounting policies
Company information

D.H. & H.H. Ford Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Brockham Keep, Horley, Surrey, RH6 9UF.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover
Turnover represents rents receivable.
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.5
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 current liabilities.

1.6
Financial instruments

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

D.H. & H.H. Ford Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 5
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was nil (2023: nil).

3
Dividends
2024
2023
£
£
Interim paid
10,000
10,000
4
Investment property
£
Fair value
At 1 April 2023 and 31 March 2024
380,000

Historical cost of the investment properties is £79,383 (2023: £79,383).

 

The freehold land and buildings were valued on an open market basis by the director at 31 March 2024.

D.H. & H.H. Ford Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
4,575
4,055
Other creditors
18,849
20,036
Accruals and deferred income
2,900
2,775
26,324
26,866
6
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Investment property
53,989
53,989
There were no deferred tax movements in the year.
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
12,766 Ordinary shares of £1 each
12,766
12,766
8
Related party transactions

During the year dividends of £5,000 (2023: £5,000) were paid to Mr I. S. Ford, a director of the company.

 

At the Balance Sheet date, £8,380 (2023: £9,567) is due to Mr I. S. Ford.

 

 

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