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Registered number: 02580488
James Shepherd of Hebden Bridge Limited
Financial Statements
For The Year Ended 31 March 2024
Dymond Ashworth
Chartered Certified Accountants
First Floor 98-100
Gisburn Road
Barrowford
Lancashire
BB9 6EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 02580488
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 29,796 35,054
29,796 35,054
CURRENT ASSETS
Stocks 6 176,234 197,500
Debtors 7 107,138 106,043
Cash at bank and in hand 1,823 12,898
285,195 316,441
Creditors: Amounts Falling Due Within One Year 8 (125,528 ) (140,399 )
NET CURRENT ASSETS (LIABILITIES) 159,667 176,042
TOTAL ASSETS LESS CURRENT LIABILITIES 189,463 211,096
Creditors: Amounts Falling Due After More Than One Year 9 (12,500 ) (22,500 )
NET ASSETS 176,963 188,596
CAPITAL AND RESERVES
Called up share capital 10 6,667 6,667
Capital redemption reserve 45,666 45,666
Profit and Loss Account 124,630 136,263
SHAREHOLDERS' FUNDS 176,963 188,596
Page 1
Page 2
For the year ending 31 March 2024 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 W P Fielden
Director
06/08/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
James Shepherd of Hebden Bridge Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02580488 . The registered office is Unit 5, Pennine Industrial Park, Hebden Bridge, West Yorkshire, HX7 7BZ.
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 from the rendering of services. Turnover 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. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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:
Plant & Machinery 15% on reducing balance
Fixtures & Fittings 15% on reducing balance
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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 years 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 15,000
As at 31 March 2024 15,000
Amortisation
As at 1 April 2023 15,000
As at 31 March 2024 15,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 128,558 38,187 166,745
As at 31 March 2024 128,558 38,187 166,745
Depreciation
As at 1 April 2023 100,137 31,554 131,691
Provided during the period 4,263 995 5,258
As at 31 March 2024 104,400 32,549 136,949
Net Book Value
As at 31 March 2024 24,158 5,638 29,796
As at 1 April 2023 28,421 6,633 35,054
6. Stocks
2024 2023
£ £
Stock 176,234 197,500
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,733 81,548
Prepayments and accrued income 33,010 17,810
Other debtors 20,000 6,685
64,743 106,043
Due after more than one year
Trade debtors 42,395 -
107,138 106,043
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 17,367 12,294
Bank loans and overdrafts 24,653 10,000
Corporation tax 12,894 18,552
Other taxes and social security 30,614 31,243
Accruals and deferred income 40,000 68,310
125,528 140,399
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,500 22,500
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6,667 6,667
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