Registered number: 01065423 | ||||||||
FOR THE YEAR ENDED 30 NOVEMBER 2023 | ||||||||
Prepared By: | ||||||||
Simon Porter FCA | ||||||||
1 Prospect Street | ||||||||
Caversham | ||||||||
Reading | ||||||||
RG4 8JB |
H Foster 1875 Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 30 NOVEMBER 2023 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Berkshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 01065423 | ||||||||
ACCOUNTANTS | ||||||||
Simon Porter FCA | ||||||||
1 Prospect Street | ||||||||
Caversham | ||||||||
Reading | ||||||||
RG4 8JB |
H Foster 1875 Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED30 NOVEMBER 2023 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
H Foster 1875 Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2023 | 2022 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Intangible assets | 3 | |||||||||
Tangible assets | 4 | |||||||||
Investment Assets | 5 | |||||||||
CURRENT ASSETS | ||||||||||
Stock | ||||||||||
Debtors | 7 | |||||||||
Cash at bank and in hand | ||||||||||
1,581,998 | 1,693,128 | |||||||||
CREDITORS: Amounts falling due within one year | 8 | |||||||||
NET CURRENT ASSETS | 673,428 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
PROVISIONS FOR LIABILITIES AND CHARGES | 9 | |||||||||
NET ASSETS | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 10 | |||||||||
Profit and loss account | 868,990 | 996,422 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
H Foster 1875 Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 30 NOVEMBER 2023 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. | ||||||||
The Company's principal place of business is The Old Brewery, Unit 2, Thames Court, Goring, Reading RG8 9AQ. |
1b. Going Concern | ||||||||
These financial statements have been prepared on the assumption that the company is able to continue as a going concern, on the basis that the company will continue to have the support of the parent company and the directors, who have resolved that the loans from the group will not become repayable until the company has funds available. |
1c. Depreciation | ||||||||
Plant and Machinery | reducing balance 25% | |||||||
Commercial Vehicles | straight line 25% | |||||||
Fixtures and Fittings | reducing balance 15% | |||||||
Equipment | reducing balance 25% |
1d. Stocks | ||||||||
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based upon the cost of purchase on a first in, first out, basis. Work in progress and finished goods include labour and attributable overheads. | ||||||||
At each balance sheet date, stocks are assessed for impairment. If the stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately. |
1e. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1f. Goodwill | ||||||||
H Foster 1875 Limited | ||||||||
1g. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are made for permanent fluctuations in value. |
2. EMPLOYEES | ||||||
2023 | 2022 | |||||
No. | No. | |||||
Average number of employees | 7 | |||||
3. INTANGIBLE FIXED ASSETS | |||||||||
Purchased | |||||||||
Patents | Goodwill | Total | |||||||
£ | £ | £ | |||||||
Cost | |||||||||
At 1 December 2022 | 4 | 550,000 | 550,004 | ||||||
At 30 November 2023 | 4 | 550,000 | 550,004 | ||||||
Depreciation | |||||||||
At 1 December 2022 | - | 343,750 | 343,750 | ||||||
For the year | - | 55,000 | 55,000 | ||||||
At 30 November 2023 | - | 398,750 | 398,750 | ||||||
Net Book Amounts | |||||||||
At 30 November 2023 | |||||||||
At 30 November 2022 | |||||||||
During the years to November 2022 and 2023 the Company incurred trading losses and the Directors have considered whether the goodwill held by the Company is impaired. As a result of the disposal of the Company premises and the costs saving that this has created, together with other cost savings, they have formed the view that the Company will be cash generative going forward and so consider the goodwill to be unimpaired at this satge, although they will review again going forward. | |||||||||
H Foster 1875 Limited | ||||||||
4. TANGIBLE FIXED ASSETS | ||||||||||||
Land And | Plant and | Commercial | Fixtures | |||||||||
Buildings | Machinery | Vehicles | and Fittings | Equipment | Total | |||||||
£ | £ | £ | £ | £ | £ | |||||||
Cost | ||||||||||||
At 1 December 2022 | 95,000 | 20,764 | 30,000 | 7,584 | 11,092 | 164,440 | ||||||
Additions | - | - | - | - | 1,670 | 1,670 | ||||||
At 30 November 2023 | 95,000 | 20,764 | 30,000 | 7,584 | 12,762 | 166,110 | ||||||
Depreciation | ||||||||||||
At 1 December 2022 | - | 15,471 | 22,500 | 4,006 | 10,079 | 52,056 | ||||||
For the year | - | 1,323 | 7,500 | 537 | 1,078 | 10,438 | ||||||
At 30 November 2023 | - | 16,794 | 30,000 | 4,543 | 11,157 | 62,494 | ||||||
Net Book Amounts | ||||||||||||
At 30 November 2023 | 103,616 | |||||||||||
At 30 November 2022 | 112,384 | |||||||||||
5. FINANCIAL ASSETS | |||||||||
Shares in group companies | |||||||||
and participating interests | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 1 December 2022 | 4,856 | 4,856 | |||||||
At 30 November 2023 | 4,856 | 4,856 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 30 November 2023 | 4,856 | 4,856 | |||||||
At 30 November 2022 | 4,856 | 4,856 | |||||||
6. STOCK | 2023 | 2022 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Raw materials and consumables | 580,846 | 538,307 | ||||
H Foster 1875 Limited | ||||||||
7. DEBTORS | 2023 | 2022 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 515,150 | 709,772 | ||||||
Other debtors | 251,997 | 221,126 | ||||||
Amounts due from group companies | 106,334 | 104,382 | ||||||
Prepayments | 45,970 | 54,665 | ||||||
Deferred taxation | 55,941 | 55,941 | ||||||
975,392 | 1,145,886 | |||||||
Comparative balances have been restated to gross up incorrect netting off. | ||||||||
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
UK corporation tax | 3,144 | 3,144 | ||||||
Other taxation and social security | 96,402 | 91,957 | ||||||
Bank Loan | 409,467 | 471,020 | ||||||
Trade creditors | 437,400 | 394,608 | ||||||
Other creditors | - | 38,199 | ||||||
Accruals | 6,223 | 10,419 | ||||||
Amounts due to group companies | 18,255 | 10,353 | ||||||
970,891 | 1,019,700 | |||||||
Comparative balances have been restated to gross up incorrect netting off. | ||||||||
9. PROVISIONS FOR LIABILITIES | 2023 | 2022 | ||||||
£ | £ | |||||||
Pensions | 1,343 | - | ||||||
Deferred taxation | (55,941) | (55,941) | ||||||
1,343 | - | |||||||
10. SHARE CAPITAL | 2023 | 2022 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
500 | 500 | |||||||
500 | 500 | |||||||
H Foster 1875 Limited | ||||||||
11. CONTROLLING PARTY | ||||||||
The immediate and ultimate parent company is Eggar & Co (1972) Limited, a company registered in England and Wales. | ||||||||
12. RELATED PARTY TRANSACTIONS | |||||||||||||||||||||||||||||||||||||
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13. COMMITMENTS UNDER OPERATING LEASES | ||||||||
At the year end the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: | ||||||||
Not later than 1 year | 18,894 | 44,181 | ||||||
Later than 1 year and not later than 5 years | 0 | 18,894 | ||||||
18,894 | 63,075 | |||||||