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Registered Number: 00669632
England and Wales

 

 

 

A HINSLEY LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2023

End date: 31 March 2024
Directors R A Hinsley
C M Herbert
V M Widdowson
Registered Number 00669632
Registered Office 26 Dovecote Lane
Beeston
Nottingham
NG9 1HU
Accountants Equinox Accounting Limited
Unit 2 Sherbrook Road
Daybrook
Nottingham
Nottinghamshire
NG5 6AB
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 250,591    250,788 
250,591    250,788 
Current assets      
Stocks 4 567,252    876,929 
Debtors 5 3,829    3,100 
Cash at bank and in hand 352,744    58,263 
923,825    938,292 
Creditors: amount falling due within one year 6 (84,587)   (208,730)
Net current assets 839,238    729,562 
 
Total assets less current liabilities 1,089,829    980,350 
Creditors: amount falling due after more than one year 7 (13,333)   (23,333)
Provisions for liabilities 8 (27,250)   (21,050)
Net assets 1,049,246    935,967 
 

Capital and reserves
     
Called up share capital 9 10,000    10,000 
Profit and loss account 1,039,246    925,967 
Shareholders' funds 1,049,246    935,967 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 November 2024 and were signed on its behalf by:


-------------------------------
R A Hinsley
Director
2
General Information
A Hinsley Limited is a private company, limited by shares, registered in England and Wales, registration number 00669632, registration address 26 Dovecote Lane, Beeston, Nottingham, NG9 1HU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Revenue Recognition
Turnover is measured at a fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:
Sale of properties: Turnover from the sale of properties is recognised when the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually when contracts have been exchanged.
Supply of services: Turnover from the supply of building services is recognised on completion of the task. When completion of the task can be reliably measured, the entity will recognise both the income and expenditure.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Pension costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge of the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the cost effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Investment properties   Total
  £   £   £   £
At 01 April 2023 2,928    1,999    250,000    254,927 
Additions      
Disposals      
At 31 March 2024 2,928    1,999    250,000    254,927 
Depreciation
At 01 April 2023 2,182    1,957      4,139 
Charge for year 186    11      197 
On disposals      
At 31 March 2024 2,368    1,968      4,336 
Net book values
Closing balance as at 31 March 2024 560    31    250,000    250,591 
Opening balance as at 01 April 2023 746    42    250,000    250,788 

The methods and significant assumptions used to ascertain the fair value of £250,000 (cost: £140,000) is as follows:
A professional valuation has been carried out on a Market Value basis, and in the opinion of the director Mr R A Hinsley, given his expertise and knowledge of the property market, this valuation fairly reflects the current market value.

4.

Stocks

2024
£
  2023
£
Work in Progress 567,252    876,929 
567,252    876,929 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Prepayments & Accrued Income 2,772    2,615 
VAT 1,057    485 
3,829    3,100 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 6,309    26,558 
Bank Loans & Overdrafts 10,000    10,000 
Barclays drawdown loan   135,650 
Corporation Tax 49,927    17,454 
PAYE & Social Security 3,864    4,317 
Accrued Expenses 4,729    4,801 
Other Creditors 306    125 
Directors' Current Accounts 9,452    9,825 
84,587    208,730 
The Barclays drawdown facility is secured against the property to which it relates. Other bank loans are guaranteed by the government.

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 13,333    23,333 
13,333    23,333 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 27,250    21,050 
27,250    21,050 

9.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
10,000 Ordinary shares of £1.00 each 10,000    10,000 
10,000    10,000 

10.

Related Party Transactions

During the year a loan existed, made to the company by both Mr R A Hinsley and Ms V M Widdowson, both directors of the company. The amount owed to the directors at the balance sheet date were as follows:
Mr R A Hinsley - £12 (2023 - £385).
Ms V M Widdowson - £9,440 (2023 - £9,440).
3