HANKELOW BUILDING SERVICES LIMITED
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,015 15,472
Current assets
Stocks 1,000 1,000
Debtors 4 3,763 748
Cash at bank and in hand 43,733 49,480
48,496 51,228
Creditors: amounts falling due within one year 5 (55,810) (46,813)
Net current (liabilities)/assets (7,314) 4,415
Total assets less current liabilities 13,701 19,887
Creditors: amounts falling due after one year 6 - (8,500)
Provisions for liabilities (3,993) (2,940)
Net assets 9,708 8,447
Capital and reserves
Called up share capital 50 50
Profit and loss account 9,658 8,397
Shareholders' funds 9,708 8,447
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
MRS. H. LOCKETT
Director
Approved by the board on 14 October 2024
HANKELOW BUILDING SERVICES LIMITED
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and equipment 20% reducing balance basis
Computer equipment 33⅓% straight line basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Plant and equipment Office equipment Total
£ £ £
Cost
At 1 February 2023 50,327 3,373 53,700
Additions 23,795 - 23,795
Disposals (19,995) - (19,995)
At 31 January 2024 54,127 3,373 57,500
Depreciation
At 1 February 2023 36,372 1,856 38,228
Charge for the year 6,626 379 7,005
On disposals (8,748) - (8,748)
At 31 January 2024 34,250 2,235 36,485
Net book value
At 31 January 2024 19,877 1,138 21,015
At 31 January 2023 13,955 1,517 15,472
4 Debtors 2024 2023
£ £
Trade debtors 3,763 748
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loan (unsecured) - 3,000
Trade creditors 1,329 1,324
Taxes and social security costs 3,596 2,001
Directors' loan accounts 50,885 40,488
55,810 46,813
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loan (unsecured) - 8,500
7 Contingent liabilities
There is a contingent liability for remedial work in respect of warranties which cannot be estimated. No such liabilities had been notified at the date of the directors' report.
8 Controlling party
The directors of the company, Mr. P. Lockett and Mrs. H. Lockett, own 52% and 48% respectively of the issued share capital of the company at the Balance Sheet date.
9 Other information
HANKELOW BUILDING SERVICES LIMITED is a private company limited by shares and incorporated in England (Company Number 06061666). Its registered office is 7, Byron Way, Wistaston, Crewe, Cheshire, CW2 8DA.
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