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REGISTERED NUMBER: 04634093 (England and Wales)


















Peter Hird and Sons Limited

Unaudited Financial Statements for the Year Ended 31st March 2024






Peter Hird and Sons Limited (Registered number: 04634093)






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


Peter Hird and Sons Limited

Company Information
for the year ended 31st March 2024







DIRECTORS: P R Hird
Mrs J Hird





SECRETARY: P R Hird





REGISTERED OFFICE: 127-143 English Street
Hull
East Yorkshire
HU3 2BS





REGISTERED NUMBER: 04634093 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Peter Hird and Sons Limited (Registered number: 04634093)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,229,874 1,229,874

CURRENT ASSETS
Debtors 5 28,119 26,319
Cash at bank 23,722 19,350
51,841 45,669
CREDITORS
Amounts falling due within one year 6 744,612 742,728
NET CURRENT LIABILITIES (692,771 ) (697,059 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

537,103

532,815

CREDITORS
Amounts falling due after more than one
year

7

303,538

327,936
NET ASSETS 233,565 204,879

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 233,465 204,779
SHAREHOLDERS' FUNDS 233,565 204,879

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.

Peter Hird and Sons Limited (Registered number: 04634093)

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 7th August 2024 and were signed on its behalf by:





P R Hird - Director


Peter Hird and Sons Limited (Registered number: 04634093)

Notes to the Financial Statements
for the year ended 31st March 2024

1. STATUTORY INFORMATION

Peter Hird and Sons 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.

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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax. Turnover from the rental of property is recognised as it becomes due.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Peter Hird and Sons Limited (Registered number: 04634093)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023
and 31st March 2024 1,229,874
NET BOOK VALUE
At 31st March 2024 1,229,874
At 31st March 2023 1,229,874

The above property was valued as at 31st March 2024 by the directors at open market value.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 12,519 26,319
Directors' current accounts 15,600 -
28,119 26,319

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 32,765 32,765
Taxation and social security 10,936 12,468
Other creditors 700,911 697,495
744,612 742,728

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 303,538 327,936

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 172,479 196,877

Peter Hird and Sons Limited (Registered number: 04634093)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 336,303 360,701

The bank loan is secured by a legal charge on investment property.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary B £1 1 1
99 Ordinary A £1 99 99
100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

2024 2023
£    £   
Mrs J Hird
Balance outstanding at start of year 13,600 -
Amounts advanced 15,800 13,600
Amounts repaid (13,800 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,600 13,600

11. RELATED PARTY DISCLOSURES

The total amount due to Hird Limited, a company under common control, is £698,827 (2023 £695,776). This is interest free and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by P R Hird.