2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 100,000 100,000 xbrli:pure xbrli:shares iso4217:GBP 04447415 2023-02-01 2024-01-31 04447415 2024-01-31 04447415 2023-01-31 04447415 2022-02-01 2023-01-31 04447415 2023-01-31 04447415 2022-01-31 04447415 core:NetGoodwill 2023-02-01 2024-01-31 04447415 core:MotorVehicles 2023-02-01 2024-01-31 04447415 bus:LeadAgentIfApplicable 2023-02-01 2024-01-31 04447415 bus:Director1 2023-02-01 2024-01-31 04447415 bus:Director2 2023-02-01 2024-01-31 04447415 core:NetGoodwill 2024-01-31 04447415 core:MotorVehicles 2023-01-31 04447415 core:MotorVehicles 2024-01-31 04447415 core:WithinOneYear 2024-01-31 04447415 core:WithinOneYear 2023-01-31 04447415 core:ShareCapital 2024-01-31 04447415 core:ShareCapital 2023-01-31 04447415 core:RetainedEarningsAccumulatedLosses 2024-01-31 04447415 core:RetainedEarningsAccumulatedLosses 2023-01-31 04447415 core:MotorVehicles 2023-01-31 04447415 bus:Director1 2023-01-31 04447415 bus:Director1 2024-01-31 04447415 bus:Director2 2023-01-31 04447415 bus:Director2 2024-01-31 04447415 bus:Director1 2022-01-31 04447415 bus:Director1 2023-01-31 04447415 bus:Director2 2022-01-31 04447415 bus:Director2 2023-01-31 04447415 bus:Director1 2022-02-01 2023-01-31 04447415 bus:Director2 2022-02-01 2023-01-31 04447415 bus:SmallEntities 2023-02-01 2024-01-31 04447415 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 04447415 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 04447415 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04447415 bus:FullAccounts 2023-02-01 2024-01-31 04447415 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 04447415 core:FurnitureFittingsToolsEquipment 2023-01-31 04447415 core:FurnitureFittingsToolsEquipment 2024-01-31
COMPANY REGISTRATION NUMBER: 04447415
WD & AC Hann Limited
Filleted Unaudited Financial Statements
31 January 2024
WD & AC Hann Limited
Financial Statements
Year ended 31 January 2024
Contents
PAGE
Chartered certified accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of wd & ac hann limited
1
Statement of financial position
2
Notes to the financial statements
4
WD & AC Hann Limited
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Wd & Ac Hann Limited
Year ended 31 January 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 WD & AC Hann Limited for the year ended 31 January 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants
2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU
28 October 2024
WD & AC Hann Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
157,041
153,351
Current assets
Stocks
47,000
60,000
Debtors
7
7,879
12,015
Cash at bank and in hand
245,757
231,026
---------
---------
300,636
303,041
Creditors: amounts falling due within one year
8
125,098
117,520
---------
---------
Net current assets
175,538
185,521
---------
---------
Total assets less current liabilities
332,579
338,872
Provisions
Taxation including deferred tax
7,079
7,720
---------
---------
Net assets
325,500
331,152
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
325,400
331,052
---------
---------
Shareholders funds
325,500
331,152
---------
---------
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 31 January 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 .
WD & AC Hann Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 28 October 2024 , and are signed on behalf of the board by:
Mr W D Hann
Mrs A C Hann
Director
Director
Company registration number: 04447415
WD & AC Hann Limited
Notes to the Financial Statements
Year ended 31 January 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 The Old Vicarage, School Hill, Westbury Sub Mendip, Wells, BA5 1HL, England.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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
-
20% 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
20% 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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Intangible assets
Goodwill
£
Cost
At 1 February 2023 and 31 January 2024
100,000
---------
Amortisation
At 1 February 2023 and 31 January 2024
100,000
---------
Carrying amount
At 31 January 2024
---------
At 31 January 2023
---------
The useful economic life of the goodwill was re-evaluated at 1st February 2016 and estimated to be 5 years from that date.
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 February 2023
21,290
268,310
289,600
Additions
15,976
15,976
Disposals
( 2,808)
( 2,808)
--------
---------
---------
At 31 January 2024
21,290
281,478
302,768
--------
---------
---------
Depreciation
At 1 February 2023
14,314
121,935
136,249
Charge for the year
1,395
10,559
11,954
Disposals
( 2,476)
( 2,476)
--------
---------
---------
At 31 January 2024
15,709
130,018
145,727
--------
---------
---------
Carrying amount
At 31 January 2024
5,581
151,460
157,041
--------
---------
---------
At 31 January 2023
6,976
146,375
153,351
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
5,082
9,243
Other debtors
2,797
2,772
-------
--------
7,879
12,015
-------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,291
1,199
Corporation tax
7,041
18,243
Social security and other taxes
7,148
8,024
Other creditors
100,618
90,054
---------
---------
125,098
117,520
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr W D Hann
( 43,789)
( 19,490)
14,233
( 49,046)
Mrs A C Hann
( 43,790)
( 19,490)
14,233
( 49,047)
--------
--------
--------
--------
( 87,579)
( 38,980)
28,466
( 98,093)
--------
--------
--------
--------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr W D Hann
( 45,726)
( 29,445)
31,382
( 43,789)
Mrs A C Hann
( 45,727)
( 29,445)
31,382
( 43,790)
--------
--------
--------
--------
( 91,453)
( 58,890)
62,764
( 87,579)
--------
--------
--------
--------
These loans are interest free and repayable on demand.