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REGISTERED NUMBER: 03443857 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Higgins & Stocks Limited

Higgins & Stocks Limited (Registered number: 03443857)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Higgins & Stocks Limited

Company Information
for the Year Ended 31st March 2024







DIRECTOR: T J Higgins





REGISTERED OFFICE: Old Water Hall
29 Huddersfield Road
Mirfield
Wakefield
WF14 8AE





REGISTERED NUMBER: 03443857 (England and Wales)

Higgins & Stocks Limited (Registered number: 03443857)

Balance Sheet
31st March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Debtors 4 - 8,496
Cash at bank 7,940 22,868
7,940 31,364
CREDITORS
Amounts falling due within one year 5 141,614 154,068
NET CURRENT LIABILITIES (133,674 ) (122,704 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(133,674

)

(122,704

)

CREDITORS
Amounts falling due after more than one
year

6

7,472

11,069
NET LIABILITIES (141,146 ) (133,773 )

CAPITAL AND RESERVES
Called up share capital 7 16,000 16,000
Retained earnings (157,146 ) (149,773 )
SHAREHOLDERS' FUNDS (141,146 ) (133,773 )

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th July 2024 and were signed by:





T J Higgins - Director


Higgins & Stocks Limited (Registered number: 03443857)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Higgins & Stocks 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.

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.

The financial statements have been prepared on a going concern basis. This may not be appropriate as the company has net liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1997, it has been amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are recognised at amortised cost with changes recognised in the income statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


Higgins & Stocks Limited (Registered number: 03443857)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account as incurred.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 2,094
Other debtors - 6,402
- 8,496

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 3,598 3,509
Taxation and social security 39 189
Other creditors 137,977 150,370
141,614 154,068

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 7,472 11,069

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
16,000 Ordinary £1 16,000 16,000

Higgins & Stocks Limited (Registered number: 03443857)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. ULTIMATE CONTROLLING PARTY

The controlling party is T J Higgins.