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COMPANY REGISTRATION NUMBER: 13037947
A & C HOLDINGS (HALIFAX) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
A & C HOLDINGS (HALIFAX) LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Investments
4
967,166
967,166
CURRENT ASSETS
Debtors
5
85,000
31,000
Cash at bank and in hand
834,142
35,100
-----------
---------
919,142
66,100
CREDITORS: amounts falling due within one year
6
1,142,484
322,347
--------------
-----------
NET CURRENT LIABILITIES
223,342
256,247
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
743,824
710,919
CREDITORS: amounts falling due after more than one year
7
612,500
700,000
-----------
-----------
NET ASSETS
131,324
10,919
-----------
-----------
A & C HOLDINGS (HALIFAX) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
131,224
10,819
-----------
---------
SHAREHOLDERS FUNDS
131,324
10,919
-----------
---------
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 members have 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:
M L Cawood
Director
Company registration number: 13037947
A & C HOLDINGS (HALIFAX) 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, 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments in subsidiaries
Investments in subsidiaries accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
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. INVESTMENTS
Shares in group undertakings
£
Cost
At 1 December 2022 and 30 November 2023
967,166
-----------
Impairment
At 1 December 2022 and 30 November 2023
-----------
Carrying amount
At 30 November 2023
967,166
-----------
At 30 November 2022
967,166
-----------
The company owns 100% of the issued share capital of the company listed below,
2023 2022
Aggregate capital and reserves
Hutton & Cawood Building & Joinery Ltd £590,629 £386,378
Profit and (loss) for the year
Hutton & Cawood Building & Joinery Ltd £364,251 £30,559
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
5. DEBTORS
2023
2022
£
£
Other debtors
85,000
31,000
---------
---------
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,692
Amounts owed to group undertakings
830,307
171,588
Accruals and deferred income
72,328
8,090
Corporation tax
4,804
111
Director loan accounts
8,353
4,909
Unsecured loan
225,000
137,649
--------------
-----------
1,142,484
322,347
--------------
-----------
7. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Unsecured loan
612,500
700,000
-----------
-----------
Included within creditors: amounts falling due after more than one year is an amount of £262,500 (2022: £350,000) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
At the period end the directors had an unsecured interest free loans with the company. These loans were in credit throughout the period and are repayable on demand.
9. RELATED PARTY TRANSACTIONS
Included in "Other creditors" is an unsecured, repayable on demand, interest free loan of £830,307 (2022: £171,587 to Hutton and Cawood Building and Joinery Limited. Management charges of £85,000 (2022:£16,000) were received in the year from H & C Enterprises (Yorkshire) Ltd.