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Hilary & Alice Ltd
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 9944293
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 11,740 10,808
11,740 10,808
CURRENT ASSETS
Stocks 5 19,750 13,000
Debtors 6 8,325 10,000
Investments 7 5,000 5,000
Cash at bank and in hand 15,891 16,179
48,966 44,179
Creditors: Amounts Falling Due Within One Year 8 (74,794 ) (68,012 )
NET CURRENT ASSETS (LIABILITIES) (25,828 ) (23,833 )
TOTAL ASSETS LESS CURRENT LIABILITIES (14,088 ) (13,025 )
NET LIABILITIES (14,088 ) (13,025 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (14,188 ) (13,125 )
SHAREHOLDERS' FUNDS (14,088) (13,025)
Page 1
Page 2
For the year ending 31 January 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Pamela Perry
Director
07/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hilary & Alice Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 9944293 . The registered office is Exchange House, Exchange Street, Attleborough, Norfolk, NR17 2AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 14,429 4,892 19,321
Additions - 3,005 3,005
As at 31 January 2024 14,429 7,897 22,326
Depreciation
As at 1 February 2023 5,531 2,982 8,513
Provided during the period 1,335 738 2,073
As at 31 January 2024 6,866 3,720 10,586
Net Book Value
As at 31 January 2024 7,563 4,177 11,740
As at 1 February 2023 8,898 1,910 10,808
5. Stocks
2024 2023
£ £
Materials 19,750 13,000
6. Debtors
2024 2023
£ £
Due within one year
Perry loan - 10,000
HAF 8,325 -
8,325 10,000
7. Current Asset Investments
2024 2023
£ £
Short term deposits 5,000 5,000
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,000 -
Other taxes and social security 484 214
VAT 1,152 1,925
Intercompany loan 41,354 36,901
Bounce back loan 23,056 24,722
Pension creditor 132 80
Accruals and deferred income 800 800
Directors' loan accounts 5,816 3,370
74,794 68,012
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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