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Registration number: 05307556

Hoddens Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Hoddens Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Hoddens Limited

(Registration number: 05307556)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

34,492

35,027

Current assets

 

Stocks

5

5,000

5,390

Debtors

6

205,563

239,997

Cash at bank and in hand

 

57,964

86,045

 

268,527

331,432

Creditors: Amounts falling due within one year

7

(163,091)

(195,229)

Net current assets

 

105,436

136,203

Total assets less current liabilities

 

139,928

171,230

Creditors: Amounts falling due after more than one year

7

(5,834)

(10,834)

Provisions for liabilities

(6,564)

(5,026)

Net assets

 

127,530

155,370

Capital and reserves

 

Called up share capital

12

12

Retained earnings

127,518

155,358

Shareholders' funds

 

127,530

155,370

For the financial year ending 31 March 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 2 October 2024 and signed on its behalf by:
 

 

Hoddens Limited

(Registration number: 05307556)
Balance Sheet as at 31 March 2024

.........................................
Mr Timothy Dodd
Director

.........................................
Mr Phillip David Shone
Director

 

Hoddens Limited

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

1

General information

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

The address of its registered office is:
Hoddens Ltd
Brocksford Street
Fenton
Stoke On Trent
ST4 3HE

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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.

 

Hoddens Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Computer equipment

20% reducing balance method

Fixtures and fittings

10% reducing balance method

Motor vehicles

20% reducing balance method

Plant and machinery

10% reducing balance method

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.

 

Hoddens Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 11).

 

Hoddens Limited

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

4

Tangible assets

Fixtures & fittings
£

Motor vehicles
 £

Computer equipment
£

Plant & machinery
£

Total
£

Cost or valuation

At 1 April 2023

13,487

4,900

7,623

99,488

125,498

Additions

95

800

272

2,038

3,205

Disposals

-

-

-

(1,995)

(1,995)

At 31 March 2024

13,582

5,700

7,895

99,531

126,708

Depreciation

At 1 April 2023

10,484

3,139

6,394

70,454

90,471

Charge for the year

337

131

300

2,025

2,793

Eliminated on disposal

-

-

-

(1,048)

(1,048)

At 31 March 2024

10,821

3,270

6,694

71,431

92,216

Carrying amount

At 31 March 2024

2,761

2,430

1,201

28,100

34,492

At 31 March 2023

3,003

1,761

1,229

29,034

35,027

 

Hoddens Limited

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

5

Stocks

2024
£

2023
£

Other inventories

5,000

5,390

6

Debtors

Current

2024
£

2023
£

Trade debtors

11,332

28,373

Prepayments

354

767

Other debtors

193,877

210,857

 

205,563

239,997

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

29,174

44,034

Trade creditors

 

43,029

58,582

Taxation and social security

 

61,733

48,472

Accruals and deferred income

 

3,586

4,142

Other creditors

 

25,569

39,999

 

163,091

195,229

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

5,834

10,834