Registered number
02469814
HACKNEY BUILDING SUPPLIES LIMITED
Filleted Accounts
31 January 2024
HACKNEY BUILDING SUPPLIES LIMITED
Registered number: 02469814
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 35,274 35,274
Tangible assets 4 723,433 583,270
758,707 618,544
Current assets
Stocks 1,116,258 1,044,337
Debtors 5 810,546 613,930
Cash at bank and in hand 82,806 169,317
2,009,610 1,827,584
Creditors: amounts falling due within one year 6 (1,204,174) (1,342,856)
Net current assets 805,436 484,728
Total assets less current liabilities 1,564,143 1,103,272
Creditors: amounts falling due after more than one year 7 (541,659) (297,500)
Net assets 1,022,484 805,772
Capital and reserves
Called up share capital 500 500
Share premium 100 100
Profit and loss account 1,021,884 805,172
Shareholder's funds 1,022,484 805,772
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Hardeep Sohi
Director
Approved by the board on 17 October 2024
HACKNEY BUILDING SUPPLIES 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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life. During this year director decided to change deprecation policy to reflact the correct values of the assets.
2024 2023
Computer 10% reducing balance 20% reducing balance
Plant and machinery 05% reducing balance 15% reducing balance
Motor vehicles 10% reducing balance 10% reducing balance
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 19 31
3 Leasehold Improvements £
Cost
At 1 February 2023 35,274
At 31 January 2024 35,274
Amortisation
At 31 January 2024 -
Net book value
At 31 January 2024 35,274
At 31 January 2023 35,274
4 Tangible fixed assets
Computer equipments Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 255,651 325,484 857,869 1,439,004
Additions 14,365 35,063 161,352 210,780
At 31 January 2024 270,016 360,547 1,019,221 1,649,784
Depreciation
At 1 February 2023 185,457 184,784 485,493 855,734
Charge for the year 8,456 8,788 53,373 70,617
At 31 January 2024 193,913 193,572 538,866 926,351
Net book value
At 31 January 2024 76,103 166,975 480,355 723,433
At 31 January 2023 70,194 140,700 372,376 583,270
5 Debtors 2024 2023
£ £
Trade debtors 661,522 558,606
Other debtors 149,024 55,324
810,546 613,930
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 57,948 26,110
Trade creditors 276,354 323,157
Taxation and social security costs 213,385 144,365
Other creditors 656,487 849,224
1,204,174 1,342,856
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 101,596 141,596
Obligations under finance lease and hire purchase contracts 440,063 155,904
541,659 297,500
8 Other information
HACKNEY BUILDING SUPPLIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
29-35 Upper Clapton Road
London
E5 8AY
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