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REGISTERED NUMBER: 00676617 (England and Wales)















E.H.THORNE(BEEHIVES)LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






E.H.THORNE(BEEHIVES)LIMITED (REGISTERED NUMBER: 00676617)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


E.H.THORNE(BEEHIVES)LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mrs J Thorne
Mrs G Smith
P B Smith
Mrs R J Coleman



SECRETARY: Mrs R J Coleman



REGISTERED OFFICE: Beehive Business Park
Rand
Wragby
Market Rasen
Lincolnshire
LN8 5NJ



REGISTERED NUMBER: 00676617 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT



SOLICITORS: Wilkin Chapman LLP
The Maltings
11-15 Brayford Wharf East
Lincoln
LN5 7AY

E.H.THORNE(BEEHIVES)LIMITED (REGISTERED NUMBER: 00676617)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 43,160 48,555
Tangible assets 5 1,728,903 1,847,827
1,772,063 1,896,382

CURRENT ASSETS
Stocks 3,033,179 2,778,281
Debtors 6 148,641 204,531
Cash in hand 106 -
3,181,926 2,982,812
CREDITORS
Amounts falling due within one year 7 1,530,332 1,352,245
NET CURRENT ASSETS 1,651,594 1,630,567
TOTAL ASSETS LESS CURRENT LIABILITIES 3,423,657 3,526,949

CREDITORS
Amounts falling due after more than one year 8 (553,007 ) (623,736 )

PROVISIONS FOR LIABILITIES (200,240 ) (190,272 )
NET ASSETS 2,670,410 2,712,941

CAPITAL AND RESERVES
Called up share capital 11 380,288 380,288
Capital redemption reserve 12 12
Retained earnings 2,290,110 2,332,641
SHAREHOLDERS' FUNDS 2,670,410 2,712,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

E.H.THORNE(BEEHIVES)LIMITED (REGISTERED NUMBER: 00676617)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:




Mrs G Smith - Director



Mrs R J Coleman - Director


E.H.THORNE(BEEHIVES)LIMITED (REGISTERED NUMBER: 00676617)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

E.H.Thorne(Beehives)Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Revenue is recognised on the completion and despatch of the order.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost and not provided
Plant and machinery etc - 25% on reducing balance, 20% on cost, 15% on reducing balance and 2% on cost

Tangible fixed assets are held at cost less depreciation.

Stocks and work-in-progress
Stocks and work in progress are stated at the lower of cost and estimated selling price, less further costs expected to be incurred to completion and disposal. Provision is made for obsolete and slow moving stock.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


E.H.THORNE(BEEHIVES)LIMITED (REGISTERED NUMBER: 00676617)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the financial reporting date are translated using the closing rate.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Grants receivable
Grants related to expenditure on tangible assets is being credited to surpluses over 10 years as this is deemed to be the period over which the commercial benefit will be derived by the company. The amounts shown in the statement of financial position in respect of grants consist of total grants received to date, less the amounts so far credited to surpluses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 114 (2022 - 113 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 53,950
AMORTISATION
At 1 January 2023 5,395
Charge for year 5,395
At 31 December 2023 10,790
NET BOOK VALUE
At 31 December 2023 43,160
At 31 December 2022 48,555

E.H.THORNE(BEEHIVES)LIMITED (REGISTERED NUMBER: 00676617)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 1,234,106 2,211,164 3,445,270
Additions - 14,802 14,802
At 31 December 2023 1,234,106 2,225,966 3,460,072
DEPRECIATION
At 1 January 2023 328,609 1,268,834 1,597,443
Charge for year 24,681 109,045 133,726
At 31 December 2023 353,290 1,377,879 1,731,169
NET BOOK VALUE
At 31 December 2023 880,816 848,087 1,728,903
At 31 December 2022 905,497 942,330 1,847,827

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 95,347 130,871
Other debtors 53,294 73,660
148,641 204,531

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 666,551 431,646
Trade creditors 252,341 406,732
Taxation and social security 197,839 125,466
Other creditors 413,601 388,401
1,530,332 1,352,245

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 553,007 623,736

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 278,303 359,448

9. LEASING AGREEMENTS
The total amount of financial commitments, guarantees and contingencies that are not included in the statement of financial position is £36,500 (2022 - £20,060).

E.H.THORNE(BEEHIVES)LIMITED (REGISTERED NUMBER: 00676617)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 597,875 365,574
Bank loans 621,683 689,808
1,219,558 1,055,382

Details of security held by HSBC Bank plc are as follows:

The bank overdraft is secured by a debenture dated 21 May 1997. This comprises a fixed charge over all present freehold and leasehold property; a first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and a first floating charge over all assets and undertakings both present and future.

First legal charges dated 5 April 2006 and 12 May 2010 over properties held by the company.

A further "general pledge" of security was made on 20 January 2016.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
288 Ordinary £1 288 288
380,000 Ordinary 'A' Ordinary
Non-Voting £1 380,000 380,000
380,288 380,288