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REGISTERED NUMBER: 02280290 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR


FLETCHERS HARDWARE LIMITED


FLETCHERS HARDWARE LIMITED (REGISTERED NUMBER: 02280290)







CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024





Page



Company Information  

1



Balance Sheet  

2



Notes to the Financial Statements  

4




FLETCHERS HARDWARE LIMITED


COMPANY INFORMATION

FOR THE YEAR ENDED 31ST MARCH 2024









DIRECTORS:

Mrs J Whitehead


T J Whitehead


Mrs A E Halstead


P J C May





REGISTERED OFFICE:

Salford Works


Salford Industrial Estate


Off Rochdale Road


Todmorden


Lancashire


OL14 7LF





REGISTERED NUMBER:

02280290 (England and Wales)





ACCOUNTANTS:

Cresswells


12 Market Street


Hebden Bridge


West Yorkshire


HX7 6AD





BANKERS:

Lloyds TSB Commercial


Service Centre


8th Floor


6/7 Park Row


Leeds


LS1 1NX


FLETCHERS HARDWARE LIMITED (REGISTERED NUMBER: 02280290)


BALANCE SHEET

31ST MARCH 2024



2024

2023



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

797


1,905



Investment property

5

-


285,000



797


286,905




CURRENT ASSETS

Stocks

199,108


235,000



Debtors

6

882,677


816,975



Cash at bank and in hand

108,697


120,240



1,190,482


1,172,215



CREDITORS

Amounts falling due within one year

7

72,137


94,801



NET CURRENT ASSETS

1,118,345


1,077,414



TOTAL ASSETS LESS CURRENT

LIABILITIES

1,119,142


1,364,319




PROVISIONS FOR LIABILITIES

8

199


36,471



NET ASSETS

1,118,943


1,327,848




CAPITAL AND RESERVES

Called up share capital

9

79


79



Capital redemption reserve

10

21


21



Fair value reserve

10

-


171,708



Retained earnings

10

1,118,843


1,156,040



SHAREHOLDERS' FUNDS

1,118,943


1,327,848




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


The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.


FLETCHERS HARDWARE LIMITED (REGISTERED NUMBER: 02280290)


BALANCE SHEET - continued

31ST MARCH 2024



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


In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.


The financial statements were approved by the Board of Directors and authorised for issue on 9th August 2024 and were signed on its behalf by:






T J Whitehead - Director



FLETCHERS HARDWARE LIMITED (REGISTERED NUMBER: 02280290)


NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024


1.

STATUTORY INFORMATION



Fletchers Hardware Limited 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.


The presentation currency of the financial statements is the Pound Sterling (£).


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.  


Plant and machinery

-

over 10 years


Fixtures and fittings

-

over 10 years


Motor vehicles

-  

over 4 years and over 5 years


Computer equipment

-

over 5 years



Investment properties

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.


Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


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.


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

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

FLETCHERS HARDWARE LIMITED (REGISTERED NUMBER: 02280290)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2024


2.

ACCOUNTING POLICIES - continued



Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 10 (2023 - 10 ) .


4.

TANGIBLE FIXED ASSETS


Fixtures



Plant and


and


Motor


Computer



machinery


fittings


vehicles


equipment


Totals

£   

£   

£   

£   

£   



COST


At 1st April 2023



and 31st March 2024

1,229


2,106


13,271


1,095


17,701




DEPRECIATION


At 1st April 2023

1,228


1,397


12,438


733


15,796




Charge for year

-


156


832


120


1,108




At 31st March 2024

1,228


1,553


13,270


853


16,904




NET BOOK VALUE


At 31st March 2024

1


553


1


242


797




At 31st March 2023

1


709


833


362


1,905




5.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1st April 2023

285,000




Disposals

(285,000

)



At 31st March 2024

-




NET BOOK VALUE


At 31st March 2024

-




At 31st March 2023

285,000




6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade debtors

41,698


43,558




Amounts owed by group undertakings

838,712


770,705




Prepayments and accrued income

2,267


2,712



882,677


816,975




FLETCHERS HARDWARE LIMITED (REGISTERED NUMBER: 02280290)


NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST MARCH 2024


7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


2024

2023


£   

£   



Trade creditors

18,858


33,761




Social security and other taxes

3,929


2,846




VAT

11,988


10,118




Other creditors

-


1,540




Directors remuneration unpaid

27,300


27,300




Accrued expenses

10,062


19,236



72,137


94,801




8.

PROVISIONS FOR LIABILITIES

2024

2023


£   

£   



Deferred tax


Accelerated capital allowances

199


40,817




Tax losses carried forward

-


(4,346

)


199


36,471





Deferred



tax


£   



Balance at 1st April 2023

36,471




Provided during year

(36,272

)



Balance at 31st March 2024

199




9.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2024

2023



value:

£   

£   



79

Ordinary

£1

79


79




10.

RESERVES


Capital


Fair



Retained


redemption


value



earnings


reserve


reserve


Totals

£   

£   

£   

£   




At 1st April 2023

1,156,040


21


171,708


1,327,769




Deficit for the year

(37,197

)

(37,197

)



Fair value adjustment

-


-


(171,708

)

(171,708

)



At 31st March 2024

1,118,843


21


-


1,118,864




11.

CONTINGENT LIABILITIES



The company's bankers hold a letter of set-off between the company and other group undertakings.



The company's bankers also hold an unlimited guarantee from a group undertaking for facilities granted to the company.


12.

RELATED PARTY DISCLOSURES



The property occupied by the company is owned by a group undertaking. Rent of £11,527 has been charged during the year (2023 - £nil).