Company Registration No. 00602022 (England and Wales)
H.L.Austin & Son Limited
Unaudited accounts
for the year ended 30 April 2024
H.L.Austin & Son Limited
Unaudited accounts
Contents
H.L.Austin & Son Limited
Company Information
for the year ended 30 April 2024
Director
Michael DH Austin
Secretary
Copsehill Services Ltd
Company Number
00602022 (England and Wales)
Registered Office
60-62 WEST HILL ROAD
LONDON
SW18 5HT
Accountants
Copsehill Services Ltd
Oaktree House
Wheelers Lane
BROCKHAM
Surrey
RH3 7LA
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of H.L.Austin & Son Limited for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
H.L.Austin & Son Limited for the year ended
30 April 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 7/16 as detailed at icaew.com/compilation.
Copsehill Services Ltd
Chartered Accountants
Oaktree House
Wheelers Lane
BROCKHAM
Surrey
RH3 7LA
14 November 2024
H.L.Austin & Son Limited
Statement of financial position
as at 30 April 2024
Tangible assets
1,127,494
1,139,184
Cash at bank and in hand
130,887
181,343
Creditors: amounts falling due within one year
108,057
(2,214)
Net current assets
238,944
179,129
Total assets less current liabilities
1,366,438
1,318,313
Creditors: amounts falling due after more than one year
(17,129)
(25,629)
Net assets
1,349,309
1,292,684
Called up share capital
26,100
26,100
Revaluation reserve
586,852
586,852
Profit and loss account
736,357
679,732
Shareholders' funds
1,349,309
1,292,684
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 November 2024 and were signed on its behalf by
Michael DH Austin
Director
Company Registration No. 00602022
H.L.Austin & Son Limited
Notes to the Accounts
for the year ended 30 April 2024
H.L.Austin & Son Limited is a private company, limited by shares, registered in England and Wales, registration number 00602022. The registered office is 60-62 WEST HILL ROAD, LONDON, SW18 5HT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents amounts receivable for rent of the premises.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
1% Straight Line
Fixtures & fittings
10% Straight Line
Valuation information and policy
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss
subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
H.L.Austin & Son Limited
Notes to the Accounts
for the year ended 30 April 2024
Other accounting policies
Revaluation Reserve
As permitted by the transitional provisions of the Financial Reporting Standard for Smaller Entities (effective January 2015 ) the company has elected not to adopt a policy of revaluation of tangible fixed assets. The company will retain the book value of land and buildings, previously revalued and will not update that valuation.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 May 2023
1,380,719
3,830
1,384,549
At 30 April 2024
1,380,719
3,830
1,384,549
At 1 May 2023
244,982
383
245,365
Charge for the year
11,307
383
11,690
At 30 April 2024
256,289
766
257,055
At 30 April 2024
1,124,430
3,064
1,127,494
At 30 April 2023
1,135,737
3,447
1,139,184
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
25,000
14,511
Proposed dividends
30,118
24,853
Other creditors
12,258
12,000
Loans from directors
(207,000)
(76,745)
Deferred income
29,167
25,667
6
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
17,129
25,629
Allotted, called up and fully paid:
26,100 Ordinary shares of £1 each
26,100
26,100
H.L.Austin & Son Limited
Notes to the Accounts
for the year ended 30 April 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director loan
77,000
130,000
-
207,000
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).