Company registration number 00584765 (England and Wales)
Houston and Sons Limited
Unaudited financial statements
For the year ended 31 March 2024
Houston And Sons Limited
Houston and Sons Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Houston And Sons Limited
Houston and Sons Limited
Balance sheet
As at 31 March 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
704,227
490,906
Current assets
Stocks
42,677
58,872
Debtors
4
427,821
397,701
Cash at bank and in hand
795,687
1,184,188
1,266,185
1,640,761
Creditors: amounts falling due within one year
5
(370,855)
(344,996)
Net current assets
895,330
1,295,765
Total assets less current liabilities
1,599,557
1,786,671
Provisions for liabilities
(44,718)
(90,618)
Net assets
1,554,839
1,696,053
Capital and reserves
Called up share capital
6
1,295
1,295
Capital redemption reserve
2,056
2,056
Profit and loss reserves
1,551,488
1,692,702
Total equity
1,554,839
1,696,053

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Houston And Sons Limited
Houston and Sons Limited
Balance sheet (continued)
As at 31 March 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 1 August 2024 and are signed on its behalf by:
Mr N F Tilley
Director
Company registration number 00584765 (England and Wales)
HOUSTON AND SONS LIMITED
Houston and Sons Limited
Notes to the financial statements
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Houston and Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is Victoria Avenue, Cheshire, CW2 7SR, Crewe.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
50 years on buildings
Plant machinery and yard equipment
7 years
Fixtures and fittings
5 to 10 years
Motor vehicles
4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

HOUSTON AND SONS LIMITED
Houston and Sons Limited
Notes to the financial statements (continued)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.7
Retirement benefits
The company operates defined contribution schemes for the benefit of its directors and employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
13
13
HOUSTON AND SONS LIMITED
Houston and Sons Limited
Notes to the financial statements (continued)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2023
213,752
1,498,156
1,711,908
Additions
-
0
311,718
311,718
Disposals
-
0
(267,292)
(267,292)
At 31 March 2024
213,752
1,542,582
1,756,334
Depreciation and impairment
At 1 April 2023
96,791
1,124,211
1,221,002
Depreciation charged in the year
3,624
93,201
96,825
Eliminated in respect of disposals
-
0
(265,720)
(265,720)
At 31 March 2024
100,415
951,692
1,052,107
Carrying amount
At 31 March 2024
113,337
590,890
704,227
At 31 March 2023
116,961
373,945
490,906
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
372,465
345,183
Other debtors
55,356
52,518
427,821
397,701
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
263,872
86,975
Taxation and social security
51,284
164,370
Other creditors
55,699
93,651
370,855
344,996
HOUSTON AND SONS LIMITED
Houston and Sons Limited
Notes to the financial statements (continued)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,295
1,295
1,295
1,295
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan
-
127
50,500
(50,627)
-
127
50,500
(50,627)
-
2024-03-312023-04-01false01 August 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr N F TilleyMr M G TilleyMrs C Shorefalsefalse005847652023-04-012024-03-31005847652024-03-31005847652023-03-3100584765core:LandBuildings2024-03-3100584765core:OtherPropertyPlantEquipment2024-03-3100584765core:LandBuildings2023-03-3100584765core:OtherPropertyPlantEquipment2023-03-3100584765core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3100584765core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3100584765core:CurrentFinancialInstruments2024-03-3100584765core:CurrentFinancialInstruments2023-03-3100584765core:ShareCapital2024-03-3100584765core:ShareCapital2023-03-3100584765core:CapitalRedemptionReserve2024-03-3100584765core:CapitalRedemptionReserve2023-03-3100584765core:RetainedEarningsAccumulatedLosses2024-03-3100584765core:RetainedEarningsAccumulatedLosses2023-03-3100584765bus:Director12023-04-012024-03-3100584765core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3100584765core:PlantMachinery2023-04-012024-03-3100584765core:FurnitureFittings2023-04-012024-03-3100584765core:MotorVehicles2023-04-012024-03-31005847652022-04-012023-03-3100584765core:LandBuildings2023-03-3100584765core:OtherPropertyPlantEquipment2023-03-31005847652023-03-3100584765core:LandBuildings2023-04-012024-03-3100584765core:OtherPropertyPlantEquipment2023-04-012024-03-3100584765core:WithinOneYear2024-03-3100584765core:WithinOneYear2023-03-3100584765bus:PrivateLimitedCompanyLtd2023-04-012024-03-3100584765bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100584765bus:FRS1022023-04-012024-03-3100584765bus:AuditExemptWithAccountantsReport2023-04-012024-03-3100584765bus:Director22023-04-012024-03-3100584765bus:CompanySecretary12023-04-012024-03-3100584765bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP