D&N Hancock Limited 13164665 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is letting, buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true 13164665 2023-02-01 2024-01-31 13164665 2024-01-31 13164665 core:OtherReservesSubtotal 2024-01-31 13164665 core:RetainedEarningsAccumulatedLosses 2024-01-31 13164665 core:ShareCapital 2024-01-31 13164665 core:CurrentFinancialInstruments 2024-01-31 13164665 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13164665 core:Non-currentFinancialInstruments 2024-01-31 13164665 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 13164665 core:FurnitureFittingsToolsEquipment 2024-01-31 13164665 bus:SmallEntities 2023-02-01 2024-01-31 13164665 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13164665 bus:FullAccounts 2023-02-01 2024-01-31 13164665 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13164665 bus:RegisteredOffice 2023-02-01 2024-01-31 13164665 bus:Director1 2023-02-01 2024-01-31 13164665 bus:Director2 2023-02-01 2024-01-31 13164665 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13164665 core:ComputerEquipment 2023-02-01 2024-01-31 13164665 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 13164665 countries:EnglandWales 2023-02-01 2024-01-31 13164665 2023-01-31 13164665 2022-02-01 2023-01-31 13164665 2023-01-31 13164665 core:OtherReservesSubtotal 2023-01-31 13164665 core:RetainedEarningsAccumulatedLosses 2023-01-31 13164665 core:ShareCapital 2023-01-31 13164665 core:CurrentFinancialInstruments 2023-01-31 13164665 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13164665 core:Non-currentFinancialInstruments 2023-01-31 13164665 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13164665

D&N Hancock Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2024

 

D&N Hancock Limited
(Registration number: 13164665)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

D&N Hancock Limited
(Registration number: 13164665)

Company Information

Directors

Mr D Hancock

Mrs N Hancock

Registered office

407 Topsham Road
Exeter
Devon
EX2 7AB

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

D&N Hancock Limited
(Registration number: 13164665)

Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

365

-

Investment property

5

1,386,646

1,386,646

 

1,387,011

1,386,646

Current assets

 

Debtors

6

381

762

Cash at bank and in hand

 

2,183

77,109

 

2,564

77,871

Creditors: Amounts falling due within one year

7

(537,307)

(636,153)

Net current liabilities

 

(534,743)

(558,282)

Total assets less current liabilities

 

852,268

828,364

Creditors: Amounts falling due after more than one year

7

(625,707)

(625,707)

Provisions for liabilities

(39,476)

(39,385)

Net assets

 

187,085

163,272

Capital and reserves

 

Called up share capital

2

2

Other reserves

118,156

118,156

Profit and loss account

68,927

45,114

Total equity

 

187,085

163,272

 

D&N Hancock Limited
(Registration number: 13164665)

Balance Sheet as at 31 January 2024

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.

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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 

.........................................
Mr D Hancock
Director

 

D&N Hancock Limited
(Registration number: 13164665)

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:
407 Topsham Road
Exeter
Devon
EX2 7AB
United Kingdom

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.

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 current and 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.

 

D&N Hancock Limited
(Registration number: 13164665)

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet 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

Office equipment

25% Straight line

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.

 

D&N Hancock Limited
(Registration number: 13164665)

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

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.

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 profit and loss account 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

D&N Hancock Limited
(Registration number: 13164665)

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

365

365

At 31 January 2024

365

365

Depreciation

Carrying amount

At 31 January 2024

365

365

5

Investment properties

2024
£

At 1 February 2023

1,386,646

At 31 January 2024

1,386,646

The 2024 valuation was undertaken by the directors, at fair value based on their extensive knowledge of the local property market.

There has been no valuation of investment property by an independent valuer.

6

Debtors

2024
£

2023
£

Other debtors

99

762

Prepayments and accrued income

282

-

Total current trade and other debtors

381

762

 

D&N Hancock Limited
(Registration number: 13164665)

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

7

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

8,318

11,499

Other creditors

519,331

616,952

Accrued expenses

1,500

1,000

Deferred income

8,158

6,702

537,307

636,153

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

625,707

625,707

Included within loans and borrowings is £625,707 (2023 - £625,707) on which security has been given by way of a fixed charge over the assets of the company.

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

625,707

625,707