2022-12-012023-11-302023-11-30false04568735S E HANCOCK & SON 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S E HANCOCK & SON LIMITED

Registered Number
04568735
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

S E HANCOCK & SON LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

BUCK, Gareth
HANCOCK, Stephen Ernest
LOCKWOOD, Asa

Registered Address

Unit 6 334 Meanwood Road
Leeds
LS7 2JF

Registered Number

04568735 (England and Wales)
S E HANCOCK & SON LIMITED
Statement of Financial Position
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets418,13821,985
18,13821,985
Current assets
Stocks546,72028,207
Debtors650,204102,064
Cash at bank and on hand66,8695,617
163,793135,888
Creditors amounts falling due within one year7(155,353)(123,329)
Net current assets (liabilities)8,44012,559
Total assets less current liabilities26,57834,544
Creditors amounts falling due after one year8(20,884)(29,943)
Provisions for liabilities9(4,534)(4,176)
Net assets1,160425
Capital and reserves
Called up share capital100100
Profit and loss account1,060325
Shareholders' funds1,160425
The financial statements were approved and authorised for issue by the Board of Directors on 22 November 2024, and are signed on its behalf by:
LOCKWOOD, Asa
Director
Registered Company No. 04568735
S E HANCOCK & SON LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors have concluded that the business remains a going concern.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under cost model, intangible assets are measured at cost less any amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement.
2.Average number of employees

20232022
Average number of employees during the year66
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 22250,000250,000
At 30 November 23250,000250,000
Amortisation and impairment
At 01 December 22250,000250,000
At 30 November 23250,000250,000
Net book value
At 30 November 23--
At 30 November 22--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 December 223,7285,13479,2823215,38193,846
Additions--2,000--2,000
At 30 November 233,7285,13481,2823215,38195,846
Depreciation and impairment
At 01 December 223,7285,13457,6282825,08971,861
Charge for year--5,7474965,847
At 30 November 233,7285,13463,3752865,18577,708
Net book value
At 30 November 23--17,9073519618,138
At 30 November 22--21,6543929221,985
5.Stocks

2023

2022

££
Raw materials and consumables46,72028,207
Total46,72028,207
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables37,72379,943
Other debtors11,88922,121
Prepayments and accrued income592-
Total50,204102,064
Short term debtors are measured at transaction price (which is usually the invoice price) less any impairment losses for bad and doubtful debts. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables9,14213,586
Bank borrowings and overdrafts10,64810,648
Taxation and social security109,72643,476
Finance lease and HP contracts-3,708
Other creditors21,78847,726
Accrued liabilities and deferred income4,0494,185
Total155,353123,329
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts20,88429,943
Total20,88429,943
9.Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires a settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

2023

2022

££
Other provisions4,5344,176
Total4,5344,176
10.Pension commitments
The Company operates a defined contributions pension scheme. The assets are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,520 (2022: £3,808).
11.Related party transactions
During the year, dividends of £145,000 (2022: £72,500) were paid to the directors. At the year end £9,589 (2022: £16,612 ) was owed to the company by the directors.