Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-01falseThe principal activity of the company during the year was that of a shed selling business.910truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00363689 2023-03-01 2024-02-29 00363689 2024-02-29 00363689 2022-03-01 2023-02-28 00363689 2023-02-28 00363689 c:Director1 2023-03-01 2024-02-29 00363689 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 00363689 d:Buildings d:LongLeaseholdAssets 2024-02-29 00363689 d:Buildings d:LongLeaseholdAssets 2023-02-28 00363689 d:PlantMachinery 2023-03-01 2024-02-29 00363689 d:PlantMachinery 2024-02-29 00363689 d:PlantMachinery 2023-02-28 00363689 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00363689 d:MotorVehicles 2023-03-01 2024-02-29 00363689 d:MotorVehicles 2024-02-29 00363689 d:MotorVehicles 2023-02-28 00363689 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00363689 d:FurnitureFittings 2023-03-01 2024-02-29 00363689 d:FurnitureFittings 2024-02-29 00363689 d:FurnitureFittings 2023-02-28 00363689 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00363689 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00363689 d:FreeholdInvestmentProperty 2023-03-01 2024-02-29 00363689 d:FreeholdInvestmentProperty 2024-02-29 00363689 d:FreeholdInvestmentProperty 2023-02-28 00363689 d:CurrentFinancialInstruments 2024-02-29 00363689 d:CurrentFinancialInstruments 2023-02-28 00363689 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 00363689 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00363689 d:ShareCapital 2024-02-29 00363689 d:ShareCapital 2023-02-28 00363689 d:CapitalRedemptionReserve 2024-02-29 00363689 d:CapitalRedemptionReserve 2023-02-28 00363689 d:RetainedEarningsAccumulatedLosses 2024-02-29 00363689 d:RetainedEarningsAccumulatedLosses 2023-02-28 00363689 c:FRS102 2023-03-01 2024-02-29 00363689 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 00363689 c:FullAccounts 2023-03-01 2024-02-29 00363689 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 00363689 d:WithinOneYear 2024-02-29 00363689 d:WithinOneYear 2023-02-28 00363689 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure
Registered number: 00363689













W.S. Hodgson & Company Limited

Financial statements
Information for filing with the registrar

29 February 2024




 
W.S. Hodgson & Company Limited


Balance sheet
At 29 February 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
60,530
73,623

Investment property
 5 
-
105,166

  
60,530
178,789

Current assets
  

Stocks
  
350,674
408,319

Debtors
 6 
57,204
28,921

Cash at bank and in hand
  
439,475
431,821

  
847,353
869,061

Creditors: amounts falling due within one year
 7 
(41,578)
(103,600)

Net current assets
  
 
 
805,775
 
 
765,461

Total assets less current liabilities
  
866,305
944,250

Provisions for liabilities
  

Deferred tax
  
(21,757)
(8,440)

Net assets
  
844,548
935,810


Capital and reserves
  

Called up share capital 
  
150
150

Capital redemption reserve
  
350
350

Profit and loss account
  
844,048
935,310

Shareholders' funds
  
844,548
935,810

1

 
W.S. Hodgson & Company Limited

    
Balance sheet (continued)
At 29 February 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 September 2024.




D S Dowd
Director

Company registered number: 00363689
The notes on pages 3 to 7 form part of these financial statements. 
2

 
W.S. Hodgson & Company Limited
 
 

Notes to the financial statements
Year ended 29 February 2024

1.


General information

W.S Hodgson Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Featherstone Works, Cotherstone, Barnard Castle, Co Durham, DL12 9PS.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company ceased trading on 30 June 2024. Since that date, the company has had no employees other than the director, and there are no plans for any future business activities and the director has the intent to wind up the company within 12 months from signing of the financial statements. As a result, the director has concluded that the company can no longer be considered a going concern. The financial statements have been prepared on a liquidation basis, with assets valued at their estimated net realisable value and liabilities recognised based on expected settlement amounts. The company is in the process of liquidating its assets and settling its obligations, with any residual value to be distributed to the shareholder. 

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

3

 
W.S. Hodgson & Company Limited
 

 
Notes to the financial statements
Year ended 29 February 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

4

 
W.S. Hodgson & Company Limited
 

 
Notes to the financial statements
Year ended 29 February 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as shown below..

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
straight line
Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss

 
2.8

Stocks

Stocks are stated at the cost deemed by the client to be correct at 50% of the retail price. At the balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 10).

5

 
W.S. Hodgson & Company Limited
 
 

Notes to the financial statements
Year ended 29 February 2024

4.


Tangible fixed assets







Long-term leasehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
114,497
131,597
185,441
55,466
487,001


Additions
-
175
-
138
313



At 29 February 2024

114,497
131,772
185,441
55,604
487,314



Depreciation


At 1 March 2023
85,295
131,486
141,375
55,222
413,378


Charge for the year
2,290
34
11,017
65
13,406



At 29 February 2024

87,585
131,520
152,392
55,287
426,784



Net book value



At 29 February 2024
26,912
252
33,049
317
60,530



At 28 February 2023
29,202
111
44,066
244
73,623


5.


Investment property





Freehold investment property

£





At 1 March 2023
105,166


Disposals
(105,166)



At 29 February 2024
-









6

 
W.S. Hodgson & Company Limited
 
 

Notes to the financial statements
Year ended 29 February 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
4,318
11,887

Other debtors
34,812
2,980

Prepayments and accrued income
18,074
14,054

57,204
28,921



7.


Creditors: amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
3,399
40,245

Corporation tax
-
12,366

Other taxation and social security
14,030
6,171

Other creditors
13,802
38,717

Accruals and deferred income
10,347
6,101

41,578
103,600



8.


Commitments under operating leases

At 29 February 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 February
28 February
2024
2023
£
£


Not later than 1 year
17,830
37,631

17,830
37,631

 
7