Hicklenton & Phillips Limited 01611908 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is jewellery sales. Digita Accounts Production Advanced 6.30.9574.0 true true 01611908 2023-02-01 2024-01-31 01611908 2024-01-31 01611908 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 01611908 core:FurnitureFittingsToolsEquipment 2024-01-31 01611908 bus:SmallEntities 2023-02-01 2024-01-31 01611908 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 01611908 bus:FilletedAccounts 2023-02-01 2024-01-31 01611908 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 01611908 bus:RegisteredOffice 2023-02-01 2024-01-31 01611908 bus:CompanySecretaryDirector2 2023-02-01 2024-01-31 01611908 bus:Director2 2023-02-01 2024-01-31 01611908 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01611908 core:ComputerEquipment 2023-02-01 2024-01-31 01611908 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 01611908 core:PlantMachinery 2023-02-01 2024-01-31 01611908 countries:AllCountries 2023-02-01 2024-01-31 01611908 2023-01-31 01611908 core:FurnitureFittingsToolsEquipment 2023-01-31 01611908 2022-02-01 2023-01-31 01611908 2023-01-31 01611908 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 01611908 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure

Company No: 01611908

Hicklenton & Phillips Limited

Unaudited Financial Statements

Year Ended

31 January 2024

 

Hicklenton & Phillips Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Hicklenton & Phillips Limited

Company Information

Directors

S P Selwyn

R Selwyn

Company secretary

S P Selwyn

Registered office

19 Colborne Avenue
Wimborne
Dorset
BH21 2PZ

Accountants

Brett Pittwood
Chartered Certified Accountants
Suite 8 Bourne Gate
25 Bourne Valley Road
Poole
Dorset
BH12 1DY

 

Hicklenton & Phillips Limited

(Registration number: 01611908)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

20

27

Current assets

 

Stocks

5

-

1,144

Cash at bank and in hand

 

39,074

33,647

 

39,074

34,791

Creditors: Amounts falling due within one year

6

(40,648)

(33,935)

Net current (liabilities)/assets

 

(1,574)

856

Net (liabilities)/assets

 

(1,554)

883

Capital and reserves

 

Called up share capital

1,200

1,200

Retained earnings

(2,754)

(317)

Shareholders' (deficit)/funds

 

(1,554)

883

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

R Selwyn
Director

 

Hicklenton & Phillips Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
19 Colborne Avenue
Wimborne
Dorset
BH21 2PZ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company. Monetary amounts are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% reducing balance

 

Hicklenton & Phillips Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

Computer equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Hicklenton & Phillips Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

Financial instruments

Classification
Financial assets

Basic financial assets
Basic financial assets, which include trade debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publically traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Hicklenton & Phillips Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

4

Tangible assets

Plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

8,480

8,480

At 31 January 2024

8,480

8,480

Depreciation

At 1 February 2023

8,453

8,453

Charge for the year

7

7

At 31 January 2024

8,460

8,460

Carrying amount

At 31 January 2024

20

20

At 31 January 2023

27

27

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

-

1,144

 

Hicklenton & Phillips Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

270

-

Accruals and deferred income

937

937

Other creditors

39,441

32,998

40,648

33,935