Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseNo description of principal activity99falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00783568 2023-02-01 2024-01-31 00783568 2022-02-01 2023-01-31 00783568 2024-01-31 00783568 2023-01-31 00783568 c:Director3 2023-02-01 2024-01-31 00783568 d:PlantMachinery 2023-02-01 2024-01-31 00783568 d:PlantMachinery 2024-01-31 00783568 d:PlantMachinery 2023-01-31 00783568 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00783568 d:MotorVehicles 2023-02-01 2024-01-31 00783568 d:MotorVehicles 2024-01-31 00783568 d:MotorVehicles 2023-01-31 00783568 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00783568 d:FurnitureFittings 2023-02-01 2024-01-31 00783568 d:FurnitureFittings 2024-01-31 00783568 d:FurnitureFittings 2023-01-31 00783568 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00783568 d:OfficeEquipment 2023-02-01 2024-01-31 00783568 d:OfficeEquipment 2024-01-31 00783568 d:OfficeEquipment 2023-01-31 00783568 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00783568 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 00783568 d:CurrentFinancialInstruments 2024-01-31 00783568 d:CurrentFinancialInstruments 2023-01-31 00783568 d:Non-currentFinancialInstruments 2024-01-31 00783568 d:Non-currentFinancialInstruments 2023-01-31 00783568 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 00783568 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 00783568 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 00783568 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 00783568 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 00783568 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 00783568 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 00783568 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 00783568 d:ShareCapital 2024-01-31 00783568 d:ShareCapital 2023-01-31 00783568 d:RetainedEarningsAccumulatedLosses 2024-01-31 00783568 d:RetainedEarningsAccumulatedLosses 2023-01-31 00783568 c:FRS102 2023-02-01 2024-01-31 00783568 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 00783568 c:FullAccounts 2023-02-01 2024-01-31 00783568 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 00783568 2 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 00783568









C. HORROCKS & SONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
C. HORROCKS & SONS LIMITED
REGISTERED NUMBER: 00783568

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
18,663
24,209

  
18,663
24,209

Current assets
  

Stocks
  
2,881
2,881

Debtors: amounts falling due within one year
 5 
63,336
71,602

Cash at bank and in hand
 6 
19,823
9,201

  
86,040
83,684

Creditors: amounts falling due within one year
 7 
(80,065)
(68,666)

Net current assets
  
 
 
5,975
 
 
15,018

Total assets less current liabilities
  
24,638
39,227

Creditors: amounts falling due after more than one year
 8 
(17,498)
(27,499)

Provisions for liabilities
  

Deferred tax
  
(4,528)
(4,600)

  
 
 
(4,528)
 
 
(4,600)

Net assets
  
2,612
7,128


Capital and reserves
  

Called up share capital 
  
2,302
2,302

Profit and loss account
  
310
4,826

  
2,612
7,128


Page 1

 
C. HORROCKS & SONS LIMITED
REGISTERED NUMBER: 00783568
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider 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 directors acknowledge their 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 profit and loss account 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 17 June 2024.




................................................
N Horrocks
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
C. HORROCKS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

C. Horrocks & Sons Limited is a private company limited by shares, registered in the United Kingdom number 00783568. Its registered office is 423 Wigan Road, Bolton, Lancashire, BL3 4QJ.
During the year, the principal activity of the company continued to be that of Electrical Engineering.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
C. HORROCKS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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.

Page 4

 
C. HORROCKS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis and straight line basis.

Depreciation is provided on the following basis:

Plant and machinery
-
Motor vehicles
-
25% per annum reducing balance
Fixtures and fittings
-
20% per annum reducing balance
Office equipment
-
33.3% per annum straight line

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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 profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
C. HORROCKS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

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 - 9).

Page 6

 
C. HORROCKS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
380
43,781
4,110
12,351
60,622


Additions
1,450
-
-
834
2,284



At 31 January 2024

1,830
43,781
4,110
13,185
62,906



Depreciation


At 1 February 2023
166
23,909
4,110
8,228
36,413


Charge for the year on owned assets
416
4,968
-
2,446
7,830



At 31 January 2024

582
28,877
4,110
10,674
44,243



Net book value



At 31 January 2024
1,248
14,904
-
2,511
18,663



At 31 January 2023
214
19,872
-
4,123
24,209


5.


Debtors

2024
2023
£
£


Trade debtors
48,452
35,498

Other debtors
14,884
36,104

63,336
71,602



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
19,823
9,201

19,823
9,201


Page 7

 
C. HORROCKS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
32,547
16,054

Corporation tax
5,837
4,144

Other taxation and social security
14,287
6,536

Other creditors
5,718
25,077

Accruals and deferred income
11,676
6,855

80,065
68,666



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
17,498
27,499

17,498
27,499


Page 8

 
C. HORROCKS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
-
27,501


-
27,501

Amounts falling due 2-5 years

Bank loans
17,500
-


17,500
-


27,500
37,501



10.


Transactions with directors

During the year the directors loan account for Michael Horrocks amounted to £NIL, this was made up of an opening balance of £13,521, net advance of £10,000 and a transfer to Steven Horrocks of £3,521. 
During the year the directors loan account for Peter Horrocks amounted to £NIL this was made up of an opening balance of £8,970 and a transfer to Neil Horrocks of £8,970.
During the year the directors loan account for Neil Horrocks amounted to £2,896, this was made up of an opening debit balance of £14,203 and advances totalling £18,000, dividends of £12,000, mileage allowance of £5,000, a bonus of £3,338 and a transfer from Peter Horrocks of £8,970 This is represented within other debtors.
During the year the directors loan account for Steven Horrocks amounted to £11,989, this was made up of an opening debit balance of £14.348,advances totalling £16,500, dividends of £12,000 a bonus of £3,338 and a transfer from Michael Horrocks of £3,521.  This is represented within other debtors.

 
Page 9