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Registered number: 12493909
Hampshire Woodburners Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Naylor Accountancy Services Limited
25 Hursley Road
Chandler's Ford
Eastleigh
Hampshire
SO53 2FS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12493909
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,243 34,148
31,243 34,148
CURRENT ASSETS
Debtors 5 26,301 30,755
Cash at bank and in hand 7,974 16,755
34,275 47,510
Creditors: Amounts Falling Due Within One Year 6 (20,259 ) (18,604 )
NET CURRENT ASSETS (LIABILITIES) 14,016 28,906
TOTAL ASSETS LESS CURRENT LIABILITIES 45,259 63,054
Creditors: Amounts Falling Due After More Than One Year 7 (6,250 ) (14,584 )
NET ASSETS 39,009 48,470
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 39,008 48,469
SHAREHOLDERS' FUNDS 39,009 48,470
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr Richard Evans
Director
25th September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hampshire Woodburners Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12493909 . The registered office is 25 Hursley Road, Chandler's Ford, Eastleigh, Hampshire, SO53 2FS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The 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 value.
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. The principal accounting policies adopted are set out below.
2.2. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. and is shown net of VAT and other sales related taxes. The fair value of consideraion takes into account trade discounts, settlement discounts and volume rebates.
2.3. 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:
Motor Vehicles 20% Reducing balance
Fixtures & Fittings 25% Straight line
Computer Equipment 25% Straight line
The gain or loss arising on the disposal of an asset is determined as the differrence between the sale proceeds and the carrrying value of the asset, and is credited or charged to profit or loss
2.4. 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.
2.5. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months of less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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2.6. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 32,725 654 3,714 37,093
Additions 1,376 1,722 1,854 4,952
As at 31 March 2024 34,101 2,376 5,568 42,045
Depreciation
As at 1 April 2023 1,091 272 1,582 2,945
Provided during the period 6,602 211 1,044 7,857
As at 31 March 2024 7,693 483 2,626 10,802
Net Book Value
As at 31 March 2024 26,408 1,893 2,942 31,243
As at 1 April 2023 31,634 382 2,132 34,148
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors (300 ) -
Other debtors 26,601 30,755
26,301 30,755
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15 6,007
Bank loans and overdrafts 8,333 8,633
Other creditors 317 317
Taxation and social security 11,594 3,647
20,259 18,604
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,250 14,584
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
Included within other debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Richard Evans 24,687 42,014 (40,100 ) - 26,601
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Richard Evans 31,000 24,665
10. Controlling Party
The company's controlling party is the director, Richard Evans by virtue of his shareholding.
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