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COMPANY REGISTRATION NUMBER: 05662641
H Aistrop & Sons Limited
Filleted Unaudited Financial Statements
30 April 2024
H Aistrop & Sons Limited
Financial Statements
Year ended 30 April 2024
Contents
Pages
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 7
H Aistrop & Sons Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of H Aistrop & Sons Limited
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H Aistrop & Sons Limited for the year ended 30 April 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of H Aistrop & Sons Limited, as a body, in accordance with the terms of our engagement letter dated 20 October 2023. Our work has been undertaken solely to prepare for your approval the financial statements of H Aistrop & Sons Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H Aistrop & Sons Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that H Aistrop & Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H Aistrop & Sons Limited. You consider that H Aistrop & Sons Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of H Aistrop & Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
10 October 2024
H Aistrop & Sons Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
43,365
38,779
Current assets
Debtors
7
264,573
205,419
Cash at bank and in hand
121,097
164,837
---------
---------
385,670
370,256
Creditors: amounts falling due within one year
8
68,955
74,723
---------
---------
Net current assets
316,715
295,533
---------
---------
Total assets less current liabilities
360,080
334,312
Creditors: amounts falling due after more than one year
9
8,750
13,750
Provisions
Taxation including deferred tax
10,841
9,694
---------
---------
Net assets
340,489
310,868
---------
---------
H Aistrop & Sons Limited
Statement of Financial Position (continued)
30 April 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
1,500
1,500
Profit and loss account
338,989
309,368
---------
---------
Shareholders funds
340,489
310,868
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 October 2024 , and are signed on behalf of the board by:
Mr R J Aistrop
Director
Company registration number: 05662641
H Aistrop & Sons Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 24 Goldcrest Walk, Thorpe Hesley, Rotherham, South Yorkshire, S61 2TS.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
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 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor Vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
240,000
---------
Amortisation
At 1 May 2023 and 30 April 2024
240,000
---------
Carrying amount
At 30 April 2024
---------
At 30 April 2023
---------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 May 2023
50,470
2,406
52,876
Additions
18,995
18,995
--------
-------
--------
At 30 April 2024
69,465
2,406
71,871
--------
-------
--------
Depreciation
At 1 May 2023
17,045
1,352
18,397
Charge for the year
9,898
211
10,109
--------
-------
--------
At 30 April 2024
26,943
1,563
28,506
--------
-------
--------
Carrying amount
At 30 April 2024
42,522
843
43,365
--------
-------
--------
At 30 April 2023
33,425
1,054
34,479
--------
-------
--------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 April 2024
14,513
--------
At 30 April 2023
19,350
--------
7. Debtors
2024
2023
£
£
Trade debtors
243,557
186,611
Other debtors
21,016
18,808
---------
---------
264,573
205,419
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
29,759
17,492
Corporation tax
17,689
45,905
Social security and other taxes
3,650
3,741
Other creditors
17,857
7,585
--------
--------
68,955
74,723
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
8,750
13,750
-------
--------