C.Hewitt & Son Limited 00518524 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is in the year under review was that of carrying on the business of clothiers and outfitters and has one subsidary company hewsel limited carrying on a similar business. Digita Accounts Production Advanced 6.30.9574.0 true 00518524 2023-02-01 2024-01-31 00518524 2024-01-31 00518524 core:CurrentFinancialInstruments 2024-01-31 00518524 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 00518524 core:Non-currentFinancialInstruments 2024-01-31 00518524 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 00518524 core:FurnitureFittings 2024-01-31 00518524 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 00518524 core:MotorVehicles 2024-01-31 00518524 core:OfficeEquipment 2024-01-31 00518524 core:PlantMachinery 2024-01-31 00518524 bus:SmallEntities 2023-02-01 2024-01-31 00518524 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 00518524 bus:FilletedAccounts 2023-02-01 2024-01-31 00518524 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 00518524 bus:RegisteredOffice 2023-02-01 2024-01-31 00518524 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 00518524 bus:Director3 2023-02-01 2024-01-31 00518524 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 00518524 bus:Agent1 2023-02-01 2024-01-31 00518524 core:ComputerEquipment 2023-02-01 2024-01-31 00518524 core:FurnitureFittings 2023-02-01 2024-01-31 00518524 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00518524 core:LeaseholdImprovements 2023-02-01 2024-01-31 00518524 core:MotorCars 2023-02-01 2024-01-31 00518524 core:MotorVehicles 2023-02-01 2024-01-31 00518524 core:OfficeEquipment 2023-02-01 2024-01-31 00518524 core:PlantMachinery 2023-02-01 2024-01-31 00518524 countries:EnglandWales 2023-02-01 2024-01-31 00518524 2023-01-31 00518524 core:FurnitureFittings 2023-01-31 00518524 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 00518524 core:MotorVehicles 2023-01-31 00518524 core:OfficeEquipment 2023-01-31 00518524 core:PlantMachinery 2023-01-31 00518524 2022-02-01 2023-01-31 00518524 2023-01-31 00518524 core:CurrentFinancialInstruments 2023-01-31 00518524 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 00518524 core:Non-currentFinancialInstruments 2023-01-31 00518524 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 00518524 core:FurnitureFittings 2023-01-31 00518524 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-31 00518524 core:MotorVehicles 2023-01-31 00518524 core:OfficeEquipment 2023-01-31 00518524 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 00518524

C.Hewitt & Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

C.Hewitt & Son Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 11

 

C.Hewitt & Son Limited

Company Information

Directors

Mrs A E Clarke-Hutton

M C Hewitt

Company secretary

M C Hewitt

Registered office

45/51 Church Street
Croydon
CR9 1QQ

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
C.Hewitt & Son Limited
for the 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 accounts of C.Hewitt & Son Limited for the year ended 31 January 2024 as set out on pages 3 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of C.Hewitt & Son Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of C.Hewitt & Son Limited and state those matters that we have agreed to state to the Board of Directors of C.Hewitt & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C.Hewitt & Son Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that C.Hewitt & Son Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of C.Hewitt & Son Limited. You consider that C.Hewitt & Son Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of C.Hewitt & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

24 October 2024

 

C.Hewitt & Son Limited

(Registration number: 00518524)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,836

32,832

Investment property

5

110

110

 

31,946

32,942

Current assets

 

Stocks

6

329,901

343,815

Debtors

7

10,908

19,410

Cash at bank and in hand

 

202,029

115,451

 

542,838

478,676

Creditors: Amounts falling due within one year

8

(218,575)

(218,392)

Net current assets

 

324,263

260,284

Total assets less current liabilities

 

356,209

293,226

Creditors: Amounts falling due after more than one year

8

(14,770)

(24,944)

Provisions for liabilities

(368)

(557)

Net assets

 

341,071

267,725

Capital and reserves

 

Called up share capital

4,000

4,000

Share premium reserve

4,000

4,000

Retained earnings

333,071

259,725

Shareholders' funds

 

341,071

267,725

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

C.Hewitt & Son Limited

(Registration number: 00518524)
Statement of Financial Position as at 31 January 2024 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

M C Hewitt
Company secretary and director

   
     
 

C.Hewitt & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
45/51 Church Street
Croydon
CR9 1QQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Preparation of consolidated financial statements

The financial statements contain information about C.Hewit & Son Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standards 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

 

C.Hewitt & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

5% Straight line method

Motor vehicles

25% Straight line method

Plant and machinery

10% Straight line method

Computer equipment

35% Reducing balance method

Furniture and fittings

10% Straight line method

 

C.Hewitt & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

C.Hewitt & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share based payments

The company operates an equity-settled, share-based compensation plan, under which the entity receives services from employees as consideration for equity instruments (options) of the entity. The fair value of the employee services received is measured by reference to the estimated fair value at the grant date of equity instruments granted and is recognised as an expense over the vesting period. The estimated fair value of the option granted is calculated using the Black Scholes option pricing model. The total amount expensed is recognised over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

 

C.Hewitt & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
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.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 25).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 February 2023

39,900

41,355

24,996

17,281

12,000

At 31 January 2024

39,900

41,355

24,996

17,281

12,000

Depreciation

At 1 February 2023

10,000

41,355

23,110

16,235

12,000

Charge for the year

-

-

629

367

-

At 31 January 2024

10,000

41,355

23,739

16,602

12,000

Carrying amount

At 31 January 2024

29,900

-

1,257

679

-

At 31 January 2023

29,900

-

1,886

1,046

-

 

C.Hewitt & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets (continued)

Total
£

Cost or valuation

At 1 February 2023

135,532

At 31 January 2024

135,532

Depreciation

At 1 February 2023

102,700

Charge for the year

996

At 31 January 2024

103,696

Carrying amount

At 31 January 2024

31,836

At 31 January 2023

32,832

Included within the net book value of land and buildings above is £29,900 (2023 - £29,900) in respect of freehold land and buildings which are not depreciated.

The freehold premises are subject to a legal charge and the remaining fixed assets are subjected to a floating charge, in favour of the bank as security in respect of facilities available.

5

Fixed asset investments

2024
£

At 1 February

110

At 31 January

110

6

Stocks

2024
£

2023
£

Other inventories

329,901

343,815

 

C.Hewitt & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024 (continued)

7

Debtors

Current

2024
£

2023
£

Trade debtors

9,127

9,042

Other debtors

1,781

10,368

 

10,908

19,410

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

30,620

9,911

Trade creditors

 

42,869

58,824

Amounts owed to group undertakings

98,986

99,045

Taxation and social security

 

11,098

10,370

Accruals and deferred income

 

34,469

39,709

Other creditors

 

533

533

 

218,575

218,392

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

14,770

24,944

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,170

9,911

Other borrowings

20,450

-

30,620

9,911