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REGISTERED NUMBER: 09769238 (England and Wales)






STEVE HAGAN & SONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






STEVE HAGAN & SONS LTD (REGISTERED NUMBER: 09769238)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


STEVE HAGAN & SONS LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: S C F Hagan
R L Hagan
L J Hagan





REGISTERED OFFICE: 44 Grosvenor Avenue
Streetly
Sutton Coldfield
West Midlands
B74 3PE





REGISTERED NUMBER: 09769238 (England and Wales)





ACCOUNTANTS: Weatherer Bailey Bragg
Chartered Accountants
100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB

STEVE HAGAN & SONS LTD (REGISTERED NUMBER: 09769238)

BALANCE SHEET
31 March 2024

31/3/24 31/3/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,066 16,082

CURRENT ASSETS
Debtors 5 47,055 44,048
Cash at bank and in hand 60,367 101,329
107,422 145,377
CREDITORS
Amounts falling due within one year 6 (49,048 ) (81,224 )
NET CURRENT ASSETS 58,374 64,153
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,440

80,235

PROVISIONS FOR LIABILITIES (2,292 ) (3,056 )
NET ASSETS 68,148 77,179

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 68,048 77,079
SHAREHOLDERS' FUNDS 68,148 77,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 13 August 2024 and were signed on its behalf by:




S C F Hagan - Director


STEVE HAGAN & SONS LTD (REGISTERED NUMBER: 09769238)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Steve Hagan & Sons Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods and services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer once work has been completed, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on installation.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

STEVE HAGAN & SONS LTD (REGISTERED NUMBER: 09769238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 525 113 36,917 37,555
DEPRECIATION
At 1 April 2023 359 77 21,037 21,473
Charge for year 41 5 3,970 4,016
At 31 March 2024 400 82 25,007 25,489
NET BOOK VALUE
At 31 March 2024 125 31 11,910 12,066
At 31 March 2023 166 36 15,880 16,082

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 1,050 -
Other debtors - 680
Prepayments 46,005 43,368
47,055 44,048

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 20,310 38,419
Corporation tax payable 270 5,828
Social security & other taxes 5,194 5,365
VAT 7,419 6,294
Directors' loan accounts 14,087 20,603
Accrued expenses 1,768 4,715
49,048 81,224

STEVE HAGAN & SONS LTD (REGISTERED NUMBER: 09769238)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
100 Ordinary £1 100 100

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31/3/24 31/3/23
£    £   
S C F Hagan
Balance outstanding at start of year (8,005 ) (3,838 )
Amounts advanced 5,000 2,235
Amounts repaid (3,192 ) (6,402 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,197 ) (8,005 )

L J Hagan
Balance outstanding at start of year (6,523 ) (2,860 )
Amounts advanced 5,000 1,784
Amounts repaid (2,747 ) (5,447 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,270 ) (6,523 )

R L Hagan
Balance outstanding at start of year (6,075 ) (2,700 )
Amounts advanced 5,000 1,622
Amounts repaid (2,545 ) (4,997 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,620 ) (6,075 )

No interest is charged on loans from directors. Amounts are repayable on demand.