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REGISTERED NUMBER: 04772150 (England and Wales)












Howton Contractors Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Howton Contractors Limited (Registered number: 04772150)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Howton Contractors Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: M J Moss
Mrs J J Moss





SECRETARY: Mrs J J Moss





REGISTERED OFFICE: Howton Farm
Pillaton
SALTASH
Cornwall
PL12 6QY





REGISTERED NUMBER: 04772150 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Howton Contractors Limited (Registered number: 04772150)

Statement of Financial Position
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 9,680
Tangible assets 5 2,933,066 3,011,741
Investments 6 65 65
2,933,131 3,021,486

CURRENT ASSETS
Stocks 175,765 271,892
Debtors 7 236,557 310,036
Cash at bank 263,693 62,452
676,015 644,380
CREDITORS
Amounts falling due within one year 8 675,296 658,729
NET CURRENT ASSETS/(LIABILITIES) 719 (14,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,933,850 3,007,137

CREDITORS
Amounts falling due after more than one year 9 (146,486 ) (206,571 )

PROVISIONS FOR LIABILITIES (138,272 ) (119,725 )
NET ASSETS 2,649,092 2,680,841

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,648,092 2,679,841
SHAREHOLDERS' FUNDS 2,649,092 2,680,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th November 2024 and were signed on its behalf by:



M J Moss - Director


Howton Contractors Limited (Registered number: 04772150)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Howton Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Is the amount derived from ordinary activities,and stated after trade discounts, other sales taxes and net of VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Basic payment entitlements
No depreciation is currently being provided as it is not expected in the short term that the market value will decrease significantly. This will be reviewed annually and any impairment will be released to the profit and loss account.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 4% on cost
Plant and machinery etc - 25% on reducing balance and 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

Howton Contractors Limited (Registered number: 04772150)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Basic
Payment
Goodwill Entitlements Totals
£    £    £   
COST
At 1st April 2023 45,000 9,000 54,000
Disposals - (9,000 ) (9,000 )
At 31st March 2024 45,000 - 45,000
AMORTISATION
At 1st April 2023 44,320 - 44,320
Amortisation for year 680 - 680
At 31st March 2024 45,000 - 45,000
NET BOOK VALUE
At 31st March 2024 - - -
At 31st March 2023 680 9,000 9,680

5. TANGIBLE FIXED ASSETS
Freehold Plant and
property Buildings machinery
£    £    £   
COST
At 1st April 2023 2,341,543 40,741 941,571
Additions - - 56,100
Disposals - - (22,100 )
At 31st March 2024 2,341,543 40,741 975,571
DEPRECIATION
At 1st April 2023 - 674 553,460
Charge for year - 1,630 101,289
Eliminated on disposal - - (19,074 )
At 31st March 2024 - 2,304 635,675
NET BOOK VALUE
At 31st March 2024 2,341,543 38,437 339,896
At 31st March 2023 2,341,543 40,067 388,111

Howton Contractors Limited (Registered number: 04772150)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
Tractors vehicles equipment Totals
£    £    £    £   
COST
At 1st April 2023 344,520 59,415 3,698 3,731,488
Additions - 36,636 1,711 94,447
Disposals - (35,815 ) - (57,915 )
At 31st March 2024 344,520 60,236 5,409 3,768,020
DEPRECIATION
At 1st April 2023 118,949 43,717 2,947 719,747
Charge for year 56,393 4,701 326 164,339
Eliminated on disposal - (30,058 ) - (49,132 )
At 31st March 2024 175,342 18,360 3,273 834,954
NET BOOK VALUE
At 31st March 2024 169,178 41,876 2,136 2,933,066
At 31st March 2023 225,571 15,698 751 3,011,741

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery Tractors vehicles Totals
£    £    £    £   
COST
At 1st April 2023
and 31st March 2024 357,650 229,950 13,000 600,600
DEPRECIATION
At 1st April 2023 47,882 42,833 5,688 96,403
Charge for year 77,443 46,779 1,828 126,050
At 31st March 2024 125,325 89,612 7,516 222,453
NET BOOK VALUE
At 31st March 2024 232,325 140,338 5,484 378,147
At 31st March 2023 309,768 187,117 7,312 504,197

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2023
and 31st March 2024 65
NET BOOK VALUE
At 31st March 2024 65
At 31st March 2023 65

Howton Contractors Limited (Registered number: 04772150)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 178,127 245,014
Other debtors 58,430 65,022
236,557 310,036

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 60,084 93,062
Trade creditors 172,110 130,369
Taxation and social security 22,307 5,906
Other creditors 420,795 429,392
675,296 658,729

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 146,486 206,571

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 55,535 73,041

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 60,084 93,062
Between one and five years 90,951 133,530
In more than five years 55,535 73,041
206,570 299,633

Non-cancellable operating leases
2024 2023
£    £   
Within one year 29,430 27,473

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 206,570 299,633

Howton Contractors Limited (Registered number: 04772150)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director and shareholder MJ Moss.