Company Registration No. NI045650 (Northern Ireland)
Thomas Hanna & Co. Ltd
Unaudited accounts
for the year ended 31 March 2024
Thomas Hanna & Co. Ltd
Unaudited accounts
Contents
Thomas Hanna & Co. Ltd
Company Information
for the year ended 31 March 2024
Company Number
NI045650 (Northern Ireland)
Registered Office
74 Main Street
Brookeborough
Co Fermanagh
BT94 4FA
United Kingdom
Accountants
CF Accounting
22 Carrowkeel Road
Lisbellaw
Enniskillen
Co. Fermanagh
BT94 5BP
Thomas Hanna & Co. Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
89,079
96,282
Cash at bank and in hand
784,187
814,631
Creditors: amounts falling due within one year
(151,600)
(243,745)
Net current assets
719,547
696,134
Total assets less current liabilities
808,626
792,416
Creditors: amounts falling due after more than one year
(14,265)
(27,928)
Provisions for liabilities
Deferred tax
(14,344)
(16,374)
Net assets
780,017
748,114
Called up share capital
300
300
Profit and loss account
779,717
747,814
Shareholders' funds
780,017
748,114
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 members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 September 2024 and were signed on its behalf by
Martin Hanna
Director
Company Registration No. NI045650
Thomas Hanna & Co. Ltd
Notes to the Accounts
for the year ended 31 March 2024
Thomas Hanna & Co. Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI045650. The registered office is 74 Main Street, Brookeborough, Co Fermanagh, BT94 4FA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
10% Reducing Balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on the sale of the business. Provision is made for any impairment.
Inventories have been valued at the lower of cost and net realisable value.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Thomas Hanna & Co. Ltd
Notes to the Accounts
for the year ended 31 March 2024
The company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
118,085
149,251
2,746
270,082
Additions
3,696
5,250
-
8,946
At 31 March 2024
121,781
154,501
2,746
279,028
At 1 April 2023
73,268
98,237
2,295
173,800
Charge for the year
4,851
11,253
45
16,149
At 31 March 2024
78,119
109,490
2,340
189,949
At 31 March 2024
43,662
45,011
406
89,079
At 31 March 2023
44,817
51,014
451
96,282
Thomas Hanna & Co. Ltd
Notes to the Accounts
for the year ended 31 March 2024
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
17,250
21,562
Finished goods
15,800
16,700
Amounts falling due within one year
Trade debtors
48,982
83,664
Accrued income and prepayments
22,178
23,188
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
13,416
11,209
Obligations under finance leases and hire purchase contracts
3,774
9,058
Trade creditors
102,727
195,929
Taxes and social security
14,930
14,437
Loans from directors
768
883
9
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
3,774
10
Average number of employees
During the year the average number of employees was 10 (2023: 11).