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REGISTERED NUMBER: 06214831 (England and Wales)















HINCH ENTERPRISES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






HINCH ENTERPRISES LIMITED (REGISTERED NUMBER: 06214831)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


HINCH ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: P D Hinch
Mrs R V Hinch





SECRETARY: Mrs R V Hinch





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 06214831 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

HINCH ENTERPRISES LIMITED (REGISTERED NUMBER: 06214831)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,884,384 4,639,142
5,884,384 4,639,142

CURRENT ASSETS
Stocks 644,382 493,606
Debtors 6 1,139,537 468,556
Cash at bank 2,688,885 1,603,566
4,472,804 2,565,728
CREDITORS
Amounts falling due within one year 7 1,199,980 634,986
NET CURRENT ASSETS 3,272,824 1,930,742
TOTAL ASSETS LESS CURRENT LIABILITIES 9,157,208 6,569,884

CREDITORS
Amounts falling due after more than one year 8 (754,362 ) (768,355 )

PROVISIONS FOR LIABILITIES (632,650 ) (489,148 )
NET ASSETS 7,770,196 5,312,381

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 7,770,096 5,312,281
SHAREHOLDERS' FUNDS 7,770,196 5,312,381

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

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

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.

HINCH ENTERPRISES LIMITED (REGISTERED NUMBER: 06214831)

BALANCE SHEET - continued
31 JANUARY 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2024 and were signed on its behalf by:





P D Hinch - Director


HINCH ENTERPRISES LIMITED (REGISTERED NUMBER: 06214831)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Hinch Enterprises 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Intangible assets
Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% on cost and not provided
Tractors - 25% on reducing balance
Plant and machinery - 20% on reducing balance
Caravan site fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and fair value less costs to complete and sell after making due allowance for slow moving and obsolete items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

HINCH ENTERPRISES LIMITED (REGISTERED NUMBER: 06214831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 25 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Entitlements
£   
COST
At 1 February 2023
and 31 January 2024 51,355
AMORTISATION
At 1 February 2023
and 31 January 2024 51,355
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property Tractors machinery
£    £    £   
COST
At 1 February 2023 2,565,519 495,880 6,380,977
Additions 311,097 280,100 1,463,238
Disposals - (146,750 ) -
At 31 January 2024 2,876,616 629,230 7,844,215
DEPRECIATION
At 1 February 2023 792,138 157,679 4,453,455
Charge for year 95,845 90,586 394,793
Eliminated on disposal - (62,987 ) -
At 31 January 2024 887,983 185,278 4,848,248
NET BOOK VALUE
At 31 January 2024 1,988,633 443,952 2,995,967
At 31 January 2023 1,773,381 338,201 1,927,522

HINCH ENTERPRISES LIMITED (REGISTERED NUMBER: 06214831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Caravan
site
fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 1,549,033 3,200 13,957 11,008,566
Additions 6,419 - 558 2,061,412
Disposals - - - (146,750 )
At 31 January 2024 1,555,452 3,200 14,515 12,923,228
DEPRECIATION
At 1 February 2023 953,049 1,090 12,013 6,369,424
Charge for year 149,677 527 979 732,407
Eliminated on disposal - - - (62,987 )
At 31 January 2024 1,102,726 1,617 12,992 7,038,844
NET BOOK VALUE
At 31 January 2024 452,726 1,583 1,523 5,884,384
At 31 January 2023 595,984 2,110 1,944 4,639,142


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 617,545 312,263
Other debtors 521,992 156,293
1,139,537 468,556

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,747 21,185
Hire purchase contracts 21,142 19,667
Trade creditors 266,211 305,987
Taxation and social security 672,675 82,715
Other creditors 219,205 205,432
1,199,980 634,986

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 413,048 433,940
Hire purchase contracts 21,142 -
Other creditors 320,172 334,415
754,362 768,355

HINCH ENTERPRISES LIMITED (REGISTERED NUMBER: 06214831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 311,082 337,342

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 433,795 455,125
Hire purchase contracts 42,284 19,667
476,079 474,792

The hire purchase liabilities are secured on the asset to which they relate.

The bank loan is secured on 60% of the market value of Hill Farm, Greetham.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had operating lease commitments over the remaining life of the leases totalling £5,916 (2023: £5,916).