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COMPANY REGISTRATION NUMBER: 9662601
W.H. Horsley & Co Ltd
Filleted Unaudited Financial Statements
30 June 2023
W.H. Horsley & Co Ltd
Financial Statements
Year ended 30 June 2023
Contents
Page
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
W.H. Horsley & Co Ltd
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of W.H. Horsley & Co Ltd
Year ended 30 June 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 June 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HARPER SHELDON LIMITED Chartered accountants
Midway House Staverton Technology Park Herrick Way, Staverton Cheltenham, Glos. GL51 6TQ
29 August 2024
W.H. Horsley & Co Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
2,534
3,257
Current assets
Debtors
7
8,555
2,773
Cash at bank and in hand
21,760
8,326
--------
--------
30,315
11,099
Creditors: amounts falling due within one year
8
( 23,768)
( 26,744)
--------
--------
Net current assets/(liabilities)
6,547
( 15,645)
-------
--------
Total assets less current liabilities
9,081
( 12,388)
Creditors: amounts falling due after more than one year
9
( 5,977)
( 9,007)
-------
--------
Net assets/(liabilities)
3,104
( 21,395)
-------
--------
W.H. Horsley & Co Ltd
Statement of Financial Position (continued)
30 June 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,004
( 21,495)
-------
--------
Shareholder funds/(deficit)
3,104
( 21,395)
-------
--------
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 income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
D.P. Jones
Director
Company registration number: 9662601
W.H. Horsley & Co Ltd
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor, Cavendish House, Littlewood Drive, West 26 Business Park, Cleckheaton, West Yorkshire, BD19 4TE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Franchises
Franchises have been capitalised to reflect the future economic value that they entitle the entity to. Franchises are measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchises
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
25 % straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Franchises
£
Cost
At 1 July 2022 and 30 June 2023
38,495
--------
Amortisation
At 1 July 2022 and 30 June 2023
38,495
--------
Carrying amount
At 30 June 2023
--------
At 30 June 2022
--------
6. Tangible assets
Office equipment
£
Cost
At 1 July 2022
9,819
Additions
665
--------
At 30 June 2023
10,484
--------
Depreciation
At 1 July 2022
6,562
Charge for the year
1,388
--------
At 30 June 2023
7,950
--------
Carrying amount
At 30 June 2023
2,534
--------
At 30 June 2022
3,257
--------
7. Debtors
2023
2022
£
£
Trade debtors
6,384
2,773
Other debtors
2,171
-------
-------
8,555
2,773
-------
-------
Other debtors include a loan to the director of £2,059 (2022 - £NIL).
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan
2,995
2,895
Trade creditors
2,219
2,000
Social security and other taxes
14,385
4,929
Other creditors
4,169
16,920
--------
--------
23,768
26,744
--------
--------
The bank loan is supported by the Bounce Back Loan Scheme Guarantee from the UK Government. Other creditors include a loan from the director of £NIL (2022 - £10,126). The director has not charged interest on his loan to the company.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loan
5,977
9,007
-------
-------
The bank loan is supported by the Bounce Back Loan Scheme Guarantee from the UK Government.