COMPANY REGISTRATION NUMBER:
07192464
H & C ENTERPRISES (YORKSHIRE) LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
H & C ENTERPRISES (YORKSHIRE) LIMITED |
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
30 November 2023
CAPITAL AND RESERVES
Called up share capital |
|
1 |
|
1 |
Profit and loss account |
|
162,976 |
|
143,025 |
|
|
---------- |
|
---------- |
SHAREHOLDER FUNDS |
|
162,977 |
|
143,026 |
|
|
---------- |
|
---------- |
|
|
|
|
|
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 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 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 were approved by the
board of directors
and authorised for issue on
29 August 2024
, and are signed on behalf of the board by:
Company registration number:
07192464
H & C ENTERPRISES (YORKSHIRE) LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 30 NOVEMBER 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 Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements
Revenue recognition
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
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants receivable relating to Covid-19 are accounted for under the accrual method and recognised immediately as income in the Statement of Income and Retained Earnings. Where applied for and received these grants include payments under the Coronavirus Job Retention Scheme (furlough payments), Small Business Grant and interest paid by the Government during the first 12 months of Bounce Bank Loans. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4.
DEBTORS
|
2023 |
2022 |
|
£ |
£ |
Amounts owed by group undertakings |
81,468 |
13,501 |
Prepayments and accrued income |
2,731 |
2,677 |
|
--------- |
--------- |
|
84,199 |
16,178 |
|
--------- |
--------- |
|
|
|
5.
CREDITORS:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
4,610 |
9,063 |
Accruals and deferred income |
3,840 |
3,585 |
Corporation tax |
4,680 |
4,435 |
Social security and other taxes |
2,508 |
1,445 |
|
--------- |
--------- |
|
15,638 |
18,528 |
|
--------- |
--------- |
|
|
|
6.
RELATED PARTY TRANSACTIONS
The company is a wholly owned subsidiary of
Hutton & Cawood Ltd
. Included within "Debtors" is an unsecured, repayable on demand and interest free loan of £81,468 (2022: £13,501) due from Hutton & Cawood Ltd. During the year the company paid management charges of £64,000 (2022: £50,000) to Hutton & Cawood Ltd.
7.
CONTROLLING PARTY
The company is a wholly owned subsidiary of
Hutton & Cawood Limited
, a company incorporated in England.