H & B Associates Limited 03491084 false 2023-04-01 2024-02-29 2024-02-29 The principal activity of the company is engineering and management consultants. Digita Accounts Production Advanced 6.30.9574.0 true true 03491084 2023-04-01 2024-02-29 03491084 2024-02-29 03491084 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-02-29 03491084 core:CurrentFinancialInstruments 2024-02-29 03491084 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 03491084 core:LandBuildings 2024-02-29 03491084 bus:SmallEntities 2023-04-01 2024-02-29 03491084 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-02-29 03491084 bus:FilletedAccounts 2023-04-01 2024-02-29 03491084 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-02-29 03491084 bus:RegisteredOffice 2023-04-01 2024-02-29 03491084 bus:Director1 2023-04-01 2024-02-29 03491084 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-04-01 2024-02-29 03491084 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-02-29 03491084 core:LandBuildings 2023-04-01 2024-02-29 03491084 core:MotorVehicles 2023-04-01 2024-02-29 03491084 countries:England 2023-04-01 2024-02-29 03491084 2023-03-31 03491084 core:LandBuildings 2023-03-31 03491084 2022-04-01 2023-03-31 03491084 2023-03-31 03491084 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-31 03491084 core:CurrentFinancialInstruments 2023-03-31 03491084 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03491084

H & B Associates Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 29 February 2024

 

H & B Associates Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

H & B Associates Limited

(Registration number: 03491084)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

-

4,821

Cash at bank and in hand

 

1,774

39,596

 

1,774

44,417

Creditors: Amounts falling due within one year

6

(500)

(19,834)

Net assets

 

1,274

24,583

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

1,272

24,581

Shareholders' funds

 

1,274

24,583

For the financial period ending 29 February 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 period 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 28 November 2024 and signed on its behalf by:
 

.........................................
Ms E M Threlfall
Director

 

H & B Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

1

General information

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

The address of its registered office is:
Meadowfields
Greenfields Lane
Market Drayton
Shropshire
TF9 3SL
England

These financial statements were authorised for issue by the Board on 28 November 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The current income 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.

 

H & B Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

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

Land and buildings

20% straight line

Motor vehicles

25% reducing balance.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the 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.

 

H & B Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined benefit pension obligation

Typically defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation.

The liability recognised in the balance sheet in respect of defined benefit pension plans is the present value of the defined benefit obligation at the reporting date minus the fair value of plan assets. The defined benefit obligation is measured using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated future payments by reference to market yields at the reporting date on high-quality corporate bonds that are denominated in the currency in which the benefits will be paid, and that have terms to maturity approximating to the terms of the related pension liability.

Actuarial gains and losses are charged or credited to other comprehensive income in the period in which they arise.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost

At 1 April 2023

1,405

1,405

At 29 February 2024

1,405

1,405

Depreciation

At 1 April 2023

1,405

1,405

At 29 February 2024

1,405

1,405

Net book value

At 29 February 2024

-

-

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of freehold land and buildings.
 

 

H & B Associates Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 February 2024

5

Debtors

2024
£

2023
£

Trade debtors

-

4,821

-

4,821

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

4,200

Trade creditors

 

-

5,597

Taxation and social security

 

-

812

Accruals and deferred income

 

500

500

Other creditors

 

-

8,725

 

500

19,834

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

4,200