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Registered number: 08415534
Horridge & Mcqueen French Polishing Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Ads Accountants
Certified Practising Accountants
117 Dartford Road
Dartford
Kent
DA1 3EN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08415534
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,824 9,099
6,824 9,099
CURRENT ASSETS
Stocks 5 14,495 19,340
Debtors 6 12,688 15,385
Cash at bank and in hand 8,317 8,346
35,500 43,071
Creditors: Amounts Falling Due Within One Year 7 (13,945 ) (8,557 )
NET CURRENT ASSETS (LIABILITIES) 21,555 34,514
TOTAL ASSETS LESS CURRENT LIABILITIES 28,379 43,613
Creditors: Amounts Falling Due After More Than One Year 8 (27,663 ) (40,335 )
NET ASSETS 716 3,278
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 714 3,276
SHAREHOLDERS' FUNDS 716 3,278
Page 1
Page 2
For the year ending 29 February 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
Mr GARY McQUEEN
Director
11/10/2024
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
Horridge & Mcqueen French Polishing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08415534 . The registered office is 117 Dartford Rd, Dartford, DA1 3EN.
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 25% Reducing
Motor Vehicles 25% Reducing
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 March 2023 17,140 19,618 36,758
As at 29 February 2024 17,140 19,618 36,758
Depreciation
As at 1 March 2023 16,317 11,342 27,659
Provided during the period 206 2,069 2,275
As at 29 February 2024 16,523 13,411 29,934
Net Book Value
As at 29 February 2024 617 6,207 6,824
As at 1 March 2023 823 8,276 9,099
5. Stocks
2024 2023
£ £
Materials 14,495 19,340
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,716 6,618
Other debtors 9,972 8,375
Other taxes and social security - 392
12,688 15,385
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,260 846
Bank loans and overdrafts 1,663 -
Corporation tax 7,978 6,866
Other taxes and social security 571 -
VAT 2,473 845
13,945 8,557
Page 4
Page 5
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,663 40,335
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 5