Registered number
09926337
Charles Hanks (Naunton) Limited
Filleted Accounts
31 December 2023
Charles Hanks (Naunton) Limited
Registered number: 09926337
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 606 395
Current assets
Debtors 4 13,373 6,867
Cash at bank and in hand 46,351 50,146
59,724 57,013
Creditors: amounts falling due within one year 5 (26,653) (25,328)
Net current assets 33,071 31,685
Total assets less current liabilities 33,677 32,080
Creditors: amounts falling due after more than one year 6 (8,500) (14,500)
Provisions for liabilities (151) (75)
Net assets 25,026 17,505
Capital and reserves
Called up share capital 100 100
Profit and loss account 24,926 17,405
Shareholders' funds 25,026 17,505
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Charles Neil Hanks
Director
Approved by the board on 26 September 2024
Charles Hanks (Naunton) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is revenue earned from the rendering of services during the period. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant, machinery and equipment 33.33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 4,057
Additions 899
At 31 December 2023 4,956
Depreciation
At 1 January 2023 3,662
Charge for the year 688
At 31 December 2023 4,350
Net book value
At 31 December 2023 606
At 31 December 2022 395
4 Debtors 2023 2022
£ £
Trade debtors 1,040 358
Other debtors 5,500 -
Prepayments and accrued income 6,833 6,509
13,373 6,867
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,000 6,000
Taxes and social security costs 18,406 17,181
Accruals and prepaid income 2,203 2,099
Other creditors 44 48
26,653 25,328
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 8,500 14,500
7 Related party transactions
The director and his wife maintain a loan account with the company. The balance due to the company at the end of the year was £5,500 . £5,500 was the maximum outstanding balance during the year under review. (At the 31 December 2022 £0 was owed by the director.)
8 Other information
Charles Hanks (Naunton) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Windrush Cottage
Naunton
Cheltenham
Gloucestershire
GL54 3AJ
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