Company registration number 04390224 (England and Wales)
C HENRY & SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
C HENRY & SONS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
C HENRY & SONS LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF C HENRY & SONS LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C Henry & Sons Limited for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of C Henry & Sons Limited, as a body, in accordance with the terms of our engagement letter dated 1 June 2023. Our work has been undertaken solely to prepare for your approval the financial statements of C Henry & Sons Limited and state those matters that we have agreed to state to the board of directors of C Henry & Sons Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C Henry & Sons Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that C Henry & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C Henry & Sons Limited. You consider that C Henry & Sons Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of C Henry & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Power Thompson
29 July 2024
Chartered Certified Accountants
199 Clarendon Park Road
Leicester
LE2 3AN
C HENRY & SONS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
262,291
216,343
Current assets
Stocks
220,000
400,000
Debtors
4
1,556,785
1,115,254
Cash at bank and in hand
1,764,915
1,931,701
3,541,700
3,446,955
Creditors: amounts falling due within one year
5
(1,461,695)
(1,060,004)
Net current assets
2,080,005
2,386,951
Total assets less current liabilities
2,342,296
2,603,294
Provisions for liabilities
(27,748)
(12,345)
Net assets
2,314,548
2,590,949
Capital and reserves
Called up share capital
170
200
Profit and loss reserves
2,314,378
2,590,749
Total equity
2,314,548
2,590,949
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 relating to small companies.
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.
The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
Mrs D E Henry-Tassell
Director
Company registration number 04390224 (England and Wales)
C HENRY & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
C Henry & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Auburn Road, Blaby, Leicestershire, United Kingdom, LE8 4DA.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
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:
Plant and equipment
15% NBV
Fixtures and fittings
15% NBV
Computers
25% NBV
Motor vehicles
25% NBV
Freehold land and assets in the course of construction are not depreciated.
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
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
C HENRY & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
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.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
30
29
C HENRY & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
150,237
28,550
6,693
14,336
241,879
441,695
Additions
2,568
82,586
85,154
Disposals
(31,625)
(31,625)
At 31 March 2024
150,237
28,550
6,693
16,904
292,840
495,224
Depreciation and impairment
At 1 April 2023
26,275
6,030
11,805
181,242
225,352
Depreciation charged in the year
341
100
1,275
35,244
36,960
Eliminated in respect of disposals
(29,379)
(29,379)
At 31 March 2024
26,616
6,130
13,080
187,107
232,933
Carrying amount
At 31 March 2024
150,237
1,934
563
3,824
105,733
262,291
At 31 March 2023
150,237
2,275
663
2,531
60,637
216,343
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,553,022
1,112,151
Prepayments and accrued income
3,763
3,103
1,556,785
1,115,254
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
753,495
582,131
Corporation tax
168,540
114,046
Other taxation and social security
521,327
363,009
Other creditors
18,333
818
1,461,695
1,060,004