REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 August 2024 |
for |
W.H.Hillerby & Sons Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 August 2024 |
for |
W.H.Hillerby & Sons Limited |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Contents of the Financial Statements |
for the Year Ended 28 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
W.H.Hillerby & Sons Limited |
Company Information |
for the Year Ended 28 August 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
87 Station Road |
Ashington |
Northumberland |
NE63 8RS |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Balance Sheet |
28 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Balance Sheet - continued |
28 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Fair value reserve | 11 | 414,939 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Notes to the Financial Statements |
for the Year Ended 28 August 2024 |
1. | STATUTORY INFORMATION |
W.H.Hillerby & Sons Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents revenue recognised by the company in respect of services supplied during the year and is measured by reference to the stage of completion of the service . |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment losses. |
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Notes to the Financial Statements - continued |
for the Year Ended 28 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost includes all costs of purchases and other costs incurred in bringing the stock to its present condition. |
At each 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 the profit and loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Notes to the Financial Statements - continued |
for the Year Ended 28 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Debtors receivable within one year |
Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment. |
Creditors payable within on year |
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 29 August 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 28 August 2024 |
DEPRECIATION |
At 29 August 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 28 August 2024 |
NET BOOK VALUE |
At 28 August 2024 |
At 28 August 2023 |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Notes to the Financial Statements - continued |
for the Year Ended 28 August 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 28 August 2024 is represented by: |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2013 | 82,376 | 19,237 | 48,321 | 106,358 | 256,292 |
Cost | 24,720 | - | - | - | 24,720 |
107,096 | 19,237 | 48,321 | 106,358 | 281,012 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 29 August 2023 |
Disposals | ( |
) |
Revaluations | ( |
) |
At 28 August 2024 |
NET BOOK VALUE |
At 28 August 2024 |
At 28 August 2023 |
Cost or valuation at 28 August 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2024 | 23,200 |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Notes to the Financial Statements - continued |
for the Year Ended 28 August 2024 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 29 August 2023 |
and 28 August 2024 |
NET BOOK VALUE |
At 28 August 2024 |
At 28 August 2023 |
Fair value at 28 August 2024 is represented by: |
£ |
Valuation in 2013 | 512,271 |
Cost | 251,179 |
763,450 |
Investment property is included at fair value. Gains are recognised in the income statement, and deferred taxation is provided at the rate expected to apply when the property is sold. |
Directors are of the opinion that there is no need to to provide for further revaluation on the value shown in the accounts, based on current markets. |
The investment property valuation was last undertaken by Rickard Property Surveyors in July 2013. |
7. | STOCKS |
2024 | 2023 |
£ | £ |
Raw materials |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Prepayments |
W.H.Hillerby & Sons Limited (Registered number: 00561657) |
Notes to the Financial Statements - continued |
for the Year Ended 28 August 2024 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 26,744 | 7,278 |
Net wages |
Other creditors | 687 | 687 |
Pension | 453 | 378 |
Directors' current accounts | 1,728 | 478 |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Hire purchase contracts |
11. | RESERVES |
Fair |
Revaluation | value |
reserve | reserve | Totals |
£ | £ | £ |
At 29 August 2023 | 111,132 | 414,939 |
Transfer of reserves | (8,993 | ) | - | (8,993 | ) |
At 28 August 2024 | 102,139 | 414,939 |