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REGISTERED NUMBER: 01043962 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

HAINSWORTH STERNE & CO LTD

HAINSWORTH STERNE & CO LTD (REGISTERED NUMBER: 01043962)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


HAINSWORTH STERNE & CO LTD (REGISTERED NUMBER: 01043962)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,803,350 4,803,408

CURRENT ASSETS
Debtors 5 63,258 54,200
Cash at bank 1,961,327 1,888,033
2,024,585 1,942,233
CREDITORS
Amounts falling due within one year 6 373,588 454,990
NET CURRENT ASSETS 1,650,997 1,487,243
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,454,347

6,290,651

PROVISIONS FOR LIABILITIES 293,946 293,703
NET ASSETS 6,160,401 5,996,948

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Fair value reserve 7 1,723,381 1,723,381
Retained earnings 4,435,020 4,271,567
6,160,401 5,996,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 August 2024 and were signed by:



Ms P Sterne - Director


HAINSWORTH STERNE & CO LTD (REGISTERED NUMBER: 01043962)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Hainsworth Sterne & Co Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01043962

Registered office: 197 High Street
Boston Spa
Wetherby
West Yorkshire
LS23 6AA

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

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.

Property rental income
Rental income is recognised as revenue on a straight line basis over the lease term and is measured at fair value of the consideration received or receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, fittings and equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets, other than investment properties, are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of fixed assets
Fixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared to its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised in the profit and loss account, The reversal of an impairment loss is recognised immediately in the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


HAINSWORTH STERNE & CO LTD (REGISTERED NUMBER: 01043962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised cost using the effective interest method.

Leases
Operating lease rentals receivable are credited to the profit and loss account as earned.

3. EMPLOYEES AND DIRECTORS

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

HAINSWORTH STERNE & CO LTD (REGISTERED NUMBER: 01043962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Residential Commercial Furniture,
freehold freehold fittings
investment investment and
property property equipment
£    £    £   
COST
At 1 March 2023 3,425,000 1,375,000 4,500
Additions - - -
At 29 February 2024 3,425,000 1,375,000 4,500
DEPRECIATION
At 1 March 2023 - - 1,620
Charge for year - - 576
At 29 February 2024 - - 2,196
NET BOOK VALUE
At 29 February 2024 3,425,000 1,375,000 2,304
At 28 February 2023 3,425,000 1,375,000 2,880

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 21,555 - 4,826,055
Additions - 975 975
At 29 February 2024 21,555 975 4,827,030
DEPRECIATION
At 1 March 2023 21,027 - 22,647
Charge for year 132 325 1,033
At 29 February 2024 21,159 325 23,680
NET BOOK VALUE
At 29 February 2024 396 650 4,803,350
At 28 February 2023 528 - 4,803,408

Investment property
The company's freehold investment properties are included at the director's estimate of their open market value at 29 February 2024. The historical cost of these properties is £2,784,226 (2023: £2,784,226).

All other tangible assets are stated at cost.

HAINSWORTH STERNE & CO LTD (REGISTERED NUMBER: 01043962)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors - 933
Other debtors 50,000 50,000
VAT 326 -
Prepayments and accrued income 12,932 3,267
63,258 54,200

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 361 3,601
Social security and other taxes 58,362 44,276
VAT - 694
Other creditors 243 1,308
Directors' current accounts 300,667 390,511
Accruals and deferred income 13,955 14,600
373,588 454,990

7. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 1,723,381