0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 15,000 4,500 1,500 6,000 9,000 10,500 xbrli:pure xbrli:shares iso4217:GBP 12231075 2022-12-01 2023-11-30 12231075 2023-11-30 12231075 2022-11-30 12231075 2021-12-01 2022-11-30 12231075 2022-11-30 12231075 2021-11-30 12231075 core:NetGoodwill 2022-12-01 2023-11-30 12231075 bus:Director1 2022-12-01 2023-11-30 12231075 core:NetGoodwill 2022-11-30 12231075 core:NetGoodwill 2023-11-30 12231075 core:WithinOneYear 2023-11-30 12231075 core:WithinOneYear 2022-11-30 12231075 core:ShareCapital 2023-11-30 12231075 core:ShareCapital 2022-11-30 12231075 core:RetainedEarningsAccumulatedLosses 2023-11-30 12231075 core:RetainedEarningsAccumulatedLosses 2022-11-30 12231075 core:NetGoodwill 2022-11-30 12231075 bus:SmallEntities 2022-12-01 2023-11-30 12231075 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 12231075 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 12231075 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 12231075 bus:FullAccounts 2022-12-01 2023-11-30
COMPANY REGISTRATION NUMBER: 12231075
A.HINCHLIFFE & CO LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
A.HINCHLIFFE & CO LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
4
9,000
10,500
CURRENT ASSETS
Debtors
5
310
Cash at bank and in hand
10,563
3,697
---------
-------
10,563
4,007
CREDITORS: amounts falling due within one year
6
9,398
9,245
---------
-------
NET CURRENT ASSETS/(LIABILITIES)
1,165
( 5,238)
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
10,165
5,262
ACCRUALS AND DEFERRED INCOME
1,050
550
---------
-------
NET ASSETS
9,115
4,712
---------
-------
A.HINCHLIFFE & CO LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
9,015
4,612
-------
-------
SHAREHOLDER FUNDS
9,115
4,712
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 August 2024 , and are signed on behalf of the board by:
A Hinchliffe
Director
Company registration number: 12231075
A.HINCHLIFFE & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered as agents for the textile industry, stated net of discounts and of Value Added Tax.
Current tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
Over 10 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
4. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
15,000
---------
Amortisation
At 1 December 2022
4,500
Charge for the year
1,500
---------
At 30 November 2023
6,000
---------
Carrying amount
At 30 November 2023
9,000
---------
At 30 November 2022
10,500
---------
5. DEBTORS
2023
2022
£
£
Other debtors
310
----
----
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,285
Social security and other taxes
749
Other creditors
7,364
9,245
-------
-------
9,398
9,245
-------
-------
7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director had an unsecured interest free loan with the company. The directors loan account was in credit throughout the year and is repayable on demand.