Company registration number:
04147075
Hutson Farming Company Limited
Trading as
Hutson Farming Company Limited
Unaudited filleted financial statements
05 April 2024
Hutson Farming Company Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Hutson Farming Company Limited
Directors and other information
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Directors |
Mr Gavin Hutson |
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Mrs Debbra Hutson |
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Secretary |
Mrs D Hutson |
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Company number |
04147075 |
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Registered office |
109 Grantham Road |
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Sleaford |
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Lincolnshire |
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NG34 7NP |
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Accountant |
Bush & Co |
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95 Boston Road |
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Sleaford |
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Lincolnshire |
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NG34 7HP |
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Hutson Farming Company Limited
Statement of financial position
5 April 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
106,645 |
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98,932 |
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_______ |
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_______ |
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106,645 |
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98,932 |
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Current assets |
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Stocks |
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26,083 |
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63,151 |
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Debtors |
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6 |
27,672 |
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51,707 |
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Investments |
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7 |
3 |
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3 |
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Cash at bank and in hand |
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72,520 |
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77,890 |
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_______ |
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_______ |
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126,278 |
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192,751 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
80,815) |
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(
96,444) |
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_______ |
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_______ |
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Net current assets |
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45,463 |
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96,307 |
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_______ |
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_______ |
Total assets less current liabilities |
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152,108 |
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195,239 |
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Provisions for liabilities |
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(
14,160) |
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(
18,797) |
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_______ |
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_______ |
Net assets |
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137,948 |
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176,442 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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2 |
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2 |
Profit and loss account |
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137,946 |
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176,440 |
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_______ |
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_______ |
Shareholders funds |
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137,948 |
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176,442 |
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_______ |
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_______ |
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For the year ending 05 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
16 August 2024
, and are signed on behalf of the board by:
Mr Gavin Hutson
Director
Company registration number:
04147075
Hutson Farming Company Limited
Statement of changes in equity
Year ended 5 April 2024
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 6 April 2022 |
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2 |
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164,421 |
164,423 |
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(Loss)/profit for the year |
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37,019 |
37,019 |
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_______ |
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_______ |
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Total comprehensive income for the year |
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37,019 |
37,019 |
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Dividends paid and payable |
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(
25,000) |
(
25,000) |
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_______ |
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_______ |
_______ |
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Total investments by and distributions to owners |
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- |
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(
25,000) |
(
25,000) |
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_______ |
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_______ |
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At 5 April 2023 and 6 April 2023 |
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2 |
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176,440 |
176,442 |
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(Loss)/profit for the year |
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(
18,494) |
(
18,494) |
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_______ |
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_______ |
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Total comprehensive income for the year |
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- |
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(
18,494) |
(
18,494) |
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Dividends paid and payable |
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(
20,000) |
(
20,000) |
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_______ |
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_______ |
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Total investments by and distributions to owners |
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- |
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(
20,000) |
(
20,000) |
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_______ |
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At 5 April 2024 |
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2 |
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137,946 |
137,948 |
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_______ |
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_______ |
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Hutson Farming Company Limited
Notes to the financial statements
Year ended 5 April 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hutson Farming Company Limited, 109 Grantham Road, Sleaford, Lincolnshire, NG34 7NP.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
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.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
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20 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets-trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classifies as a basic financial instrument and is measured at amortised cost. Financial liabilities-trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
5.
Tangible assets
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Plant and machinery |
Total |
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£ |
£ |
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Cost |
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At 6 April 2023 |
256,170 |
256,170 |
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Additions |
40,170 |
40,170 |
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Disposals |
(
25,516) |
(
25,516) |
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_______ |
_______ |
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At 5 April 2024 |
270,824 |
270,824 |
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_______ |
_______ |
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Depreciation |
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At 6 April 2023 |
157,238 |
157,238 |
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Charge for the year |
11,951 |
11,951 |
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Disposals |
(
5,010) |
(
5,010) |
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_______ |
_______ |
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At 5 April 2024 |
164,179 |
164,179 |
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_______ |
_______ |
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Carrying amount |
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At 5 April 2024 |
106,645 |
106,645 |
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_______ |
_______ |
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At 5 April 2023 |
98,932 |
98,932 |
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_______ |
_______ |
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6.
Debtors
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2024 |
2023 |
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£ |
£ |
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Trade debtors |
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12,155 |
28,698 |
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Other debtors |
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15,517 |
23,009 |
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_______ |
_______ |
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27,672 |
51,707 |
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_______ |
_______ |
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7.
Investments
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2024 |
2023 |
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£ |
£ |
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Other investments |
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3 |
3 |
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_______ |
_______ |
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8.
Creditors: amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
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Trade creditors |
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10,198 |
31,143 |
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Corporation tax |
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299 |
6,906 |
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Other creditors |
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70,318 |
58,395 |
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_______ |
_______ |
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80,815 |
96,444 |
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_______ |
_______ |
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9.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2024 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr Gavin Hutson |
(
56,768) |
(
12,450) |
(
69,218) |
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_______ |
_______ |
_______ |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr Gavin Hutson |
(
48,318) |
(
8,450) |
(
56,768) |
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_______ |
_______ |
_______ |
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10.
Related party transactions
The directors Gavin Hutson and Debbra Hutson received dividends of £10,000 each (total £20,000) by virtue of their ordinary share holding.
11.
Controlling party
During the two years ended 5th April 2024 the directors
Gavin Hutson
and Debbra Hutson controlled the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued ordinary share capital.