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Registered number: 04356788
Herne Bay Domestics Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
Hilary Adams Ltd
158 High Street
Herne Bay
Kent
CT6 5NP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Statement of Financial Position
Registered number: 04356788
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 101,911 108,431
101,911 108,431
CURRENT ASSETS
Stocks 6 202,369 181,580
Debtors 7 66,573 71,877
Cash at bank and in hand 10,095 13,458
279,037 266,915
Creditors: Amounts Falling Due Within One Year 8 (141,923 ) (118,769 )
NET CURRENT ASSETS (LIABILITIES) 137,114 148,146
TOTAL ASSETS LESS CURRENT LIABILITIES 239,025 256,577
Creditors: Amounts Falling Due After More Than One Year 9 (60,103 ) (49,541 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (12,995 ) (13,592 )
NET ASSETS 165,927 193,444
CAPITAL AND RESERVES
Called up share capital 12 4 4
Income Statement 165,923 193,440
SHAREHOLDERS' FUNDS 165,927 193,444
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
A A Mayes
Director
8 August 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Herne Bay Domestics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04356788 . The registered office is 158 High Street, Herne Bay, Kent, CT6 5NP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are computer software. It is amortised to income statement over its estimated economic life of three years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% and other on cost
Plant & Machinery 20% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
Page 3
Page 4
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company.

Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 5
2.8. Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 18)
17 18
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 11,056
As at 31 January 2024 11,056
Amortisation
As at 1 February 2023 11,056
As at 31 January 2024 11,056
Net Book Value
As at 31 January 2024 -
As at 1 February 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 February 2023 79,605 14,585 188,334 36,143
Additions - 2,570 45,845 1,010
Disposals - - (63,682 ) -
As at 31 January 2024 79,605 17,155 170,497 37,153
Depreciation
As at 1 February 2023 58,128 11,220 119,320 23,665
...CONTINUED
Page 5
Page 6
Provided during the period 2,451 2,097 38,188 6,031
Disposals - - (56,978 ) -
As at 31 January 2024 60,579 13,317 100,530 29,696
Net Book Value
As at 31 January 2024 19,026 3,838 69,967 7,457
As at 1 February 2023 21,477 3,365 69,014 12,478
Computer Equipment Total
£ £
Cost
As at 1 February 2023 20,707 339,374
Additions 1,485 50,910
Disposals - (63,682 )
As at 31 January 2024 22,192 326,602
Depreciation
As at 1 February 2023 18,610 230,943
Provided during the period 1,959 50,726
Disposals - (56,978 )
As at 31 January 2024 20,569 224,691
Net Book Value
As at 31 January 2024 1,623 101,911
As at 1 February 2023 2,097 108,431
6. Stocks
2024 2023
£ £
Stock 202,369 181,580
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 66,397 71,701
Prepayments and accrued income 176 176
66,573 71,877
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 25,209 27,506
Trade creditors 67,644 51,644
Other taxes and social security 8,911 10,747
VAT 34,329 22,728
Credit Card 2,094 609
Other creditors - 2,196
Accruals and deferred income 2,300 2,300
Directors' loan accounts 1,436 1,039
141,923 118,769
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 60,103 49,541
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 34,213 33,585
Later than one year and not later than five years 78,754 64,749
112,967 98,334
Less: Finance charges allocated to future periods 27,655 21,287
85,312 77,047
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 12,995 13,592
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
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