Company registration number 00634104 (England and Wales)
G.W.HOUSLEY & SON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
G.W.HOUSLEY & SON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
G.W.HOUSLEY & SON LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
9,696
2,381
Investment property
5
350,000
350,000
359,696
352,381
Current assets
Debtors
6
6,018
6,571
Cash at bank and in hand
38,226
40,398
44,244
46,969
Creditors: amounts falling due within one year
7
(17,718)
(18,938)
Net current assets
26,526
28,031
Total assets less current liabilities
386,222
380,412
Creditors: amounts falling due after more than one year
8
(4,363)
(7,302)
Net assets
381,859
373,110
Capital and reserves
Called up share capital
10,000
10,000
Revaluation reserve
254,537
254,537
Profit and loss reserves
117,322
108,573
Total equity
381,859
373,110
G.W.HOUSLEY & SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -

For the financial year ended 31 December 2023 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 September 2024 and are signed on its behalf by:
Mr  J Housley
Director
Company registration number 00634104 (England and Wales)
G.W.HOUSLEY & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

G.W.Housley & Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Newbridge Works, Coldwell Street, Wirksworth, Matlock, DE4 4FB. The company registration number is 00634104.

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 investment properties 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 rent and associated recharges in respect of the investment property.

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:

Fixtures and fittings
20% reducing balance
Computers
25% reducing balance

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
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Financial instruments
Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

G.W.HOUSLEY & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
5,661
Additions
9,189
At 31 December 2023
14,850
Depreciation and impairment
At 1 January 2023
3,280
Depreciation charged in the year
1,874
At 31 December 2023
5,154
Carrying amount
At 31 December 2023
9,696
At 31 December 2022
2,381
G.W.HOUSLEY & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
5
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
350,000

Investment property comprises offices and industrial units. The fair value of the investment property has been arrived at on the basis of a valuation carried out in 2013 by Rayboulds Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors consider that this still represents the fair value at 31 December 2023.

6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,748
4,216
Other debtors
2,270
2,355
6,018
6,571
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,867
2,794
Trade creditors
378
1,912
Corporation tax
3,559
3,904
Other taxation and social security
3,623
2,250
Other creditors
7,291
8,078
17,718
18,938
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
4,363
7,302
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