REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
A.Hemingway and Sons Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
A.Hemingway and Sons Limited |
A.Hemingway and Sons Limited (Registered number: 00637427) |
Contents of the Financial Statements |
for the year ended 31 January 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
A.Hemingway and Sons Limited |
Company Information |
for the year ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 President Buildings |
Savile Street East |
Sheffield |
South Yorkshire |
S4 7UQ |
A.Hemingway and Sons Limited (Registered number: 00637427) |
Statement of Financial Position |
31 January 2024 |
2024 | 2023 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 8 |
Retained earnings | ( |
) | (165,898 | ) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
A.Hemingway and Sons Limited (Registered number: 00637427) |
Statement of Financial Position - continued |
31 January 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
A.Hemingway and Sons Limited (Registered number: 00637427) |
Notes to the Financial Statements |
for the year ended 31 January 2024 |
1. | STATUTORY INFORMATION |
A.Hemingway and Sons Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and net of VAT. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Motor vehicles | - |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
A.Hemingway and Sons Limited (Registered number: 00637427) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | PROPERTY, PLANT AND EQUIPMENT |
Freehold | Plant and | Motor | Computer |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 February 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
DEPRECIATION |
At 1 February 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Cost or valuation at 31 January 2024 is represented by: |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
Valuation in 1995 | 154,815 | - | 154,815 |
Valuation in 2007 | 276,988 | - | 276,988 |
Valuation in 2010 | (19,542 | ) | - | (19,542 | ) |
Cost | 86,117 | 350 | 86,467 |
498,378 | 350 | 498,728 |
A.Hemingway and Sons Limited (Registered number: 00637427) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
4. | PROPERTY, PLANT AND EQUIPMENT - continued |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
as | restated |
£ | £ |
Cost | 82,481 | 104,353 |
Aggregate depreciation | 18,138 | 21,712 |
Value of land in freehold land and buildings | 64,344 | 82,641 |
Freehold land and buildings were valued on an open market basis on 31 October 2010 by an independent valuation company . |
The company has not adopted a formal policy of annual market value revaluations for its freehold property but wishes to continue to use and show the revaluation undertaken in 2010. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as | restated |
£ | £ |
Directors' loan accounts | 29,721 | 76,774 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as | restated |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 327 | 327 |
Other creditors |
Directors' loan accounts | - | 94,558 |
Accruals and deferred income |
A.Hemingway and Sons Limited (Registered number: 00637427) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
as | restated |
£ | £ |
Bank overdrafts |
All bank loans and the bank overdraft facility are secured on the following assets: |
* All book and other debts |
* All assets, goodwill, undertaking and uncalled share capital both present and future. |
* Freehold land known as 6.85 Acres SE of Whitely Lane, Ecclesia, Sheffield |
* Land and Buildings lying SW of Whitely Lane, Grandsire, Sheffield |
* Land known as 4.24 Acres at Whitely Lane, Grandsire, Sheffield |
* Land known as 17 Acres lying to SE Whitely Lane, Sheffield |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 February 2023 |
Property valuation - realised | (109,322 | ) |
At 31 January 2024 |
A.Hemingway and Sons Limited (Registered number: 00637427) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2024 |
9. | RELATED PARTY DISCLOSURES |
The following loans from directors subsided during the years ended 31 January 2024 and 31 January 2023: |
2024 | 2023 |
£ | £ |
Mr Adrian Hemingway |
Balance outstanding at start of year | 27,145 | 27,145 |
Amounts advanced | 17,710 | 5,550 |
Amounts Repaid | (42,253 | ) | (5,550 | ) |
Balance outstanding at end of year | 2,602 | 27,145 |
Mr Andrew Hemingway |
Balance outstanding at start of year | 43,479 | 52,479 |
Amounts advanced | 11,818 | 0 |
Amounts Repaid | (28,179 | ) | (9,000 | ) |
Balance outstanding at end of year | 27,118 | 43,479 |
Mr Roger Hemingway |
Balance outstanding at start of year | 6,149 | 6,149 |
Amounts advanced | 20,212 | 0 |
Amounts Repaid | (26,361 | ) | (0 | ) |
Balance outstanding at end of year | 0 | 6,149 |
Mr Richard Hemingway |
Balance outstanding at start of year | (94,558 | ) | (94,558 | ) |
Amounts advanced | 147,279 | 0 |
Amounts Repaid | (52,721 | ) | (0 | ) |
Balance outstanding at end of year | 0 | (94,558 | ) |
No interest was charged in relation to the sums owed and no repayment date has been set. |
10. | ULTIMATE CONTROLLING PARTY |
The company is not under the control of any one person or family. |