2023-04-012024-03-312024-03-31false06005521Hansford 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Hansford Limited

Registered Number
06005521
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Hansford Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

EDGAR, Jonathan Lawrence

Registered Address

James Watson House Montgomery Way
Rosehill Industrial Estate
Carlisle
CA1 2UU

Place of Business

193 Brampton Road

Carlisle

CA3 9AX


Registered Number

06005521 (England and Wales)
Hansford Limited
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3178,495177,341
Investment property4139,000139,000
317,495316,341
Current assets
Debtors556,069152,271
Cash at bank and on hand60,93831,619
117,007183,890
Creditors amounts falling due within one year6(50,652)(46,809)
Net current assets (liabilities)66,355137,081
Total assets less current liabilities383,850453,422
Creditors amounts falling due after one year7(26,008)(31,198)
Provisions for liabilities8(53,018)(52,700)
Net assets304,824369,524
Capital and reserves
Called up share capital11
Other reserves30,50030,500
Profit and loss account274,323339,023
Shareholders' funds304,824369,524
The financial statements were approved and authorised for issue by the Director on 22 November 2024, and are signed on its behalf by:
EDGAR, Jonathan Lawrence
Director
Registered Company No. 06005521
Hansford Limited
Notes to the Financial Statements
for the year ended 31 March 2024

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 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.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
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 Statement of Income. Land is not depreciated.

Reducing balance (%)Straight line (years)
Plant and machinery-20
Office Equipment15-
Investment property
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
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 balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other debtors
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 assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
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.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 April 23230,188230230,418
Additions13,332-13,332
At 31 March 24243,520230243,750
Depreciation and impairment
At 01 April 2352,86121653,077
Charge for year12,176212,178
At 31 March 2465,03721865,255
Net book value
At 31 March 24178,48312178,495
At 31 March 23177,32714177,341
4.Investment property
The 2024 valuations were made by the director, on an open market value for existing use basis.

£
Fair value at 01 April 23139,000
At 31 March 24139,000
5.Debtors: amounts due within one year

2024

2023

££
Other debtors47,607144,199
Prepayments and accrued income8,4628,072
Total56,069152,271
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-614
Bank borrowings and overdrafts3,8405,680
Taxation and social security42,43235,601
Finance lease and HP contracts-1,270
Other creditors-495
Accrued liabilities and deferred income4,3803,149
Total50,65246,809
Lloyds TSB Bank plc has a charge dated 17 August 2011 to secure all monies owed. Obligations under finance lease and hire purchase contracts are secured by the assets to which they relate.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts26,00831,198
Total26,00831,198
Lloyds TSB Bank plc has a charge dated 17 August 2011 to secure all monies owed. Obligations under finance lease and hire purchase contracts are secured by the assets to which they relate. The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is £15,524 (2023 - £19,016).
8.Provisions for liabilities
The provision for deferred tax is made up of £8,418 in respect of fair value on investment property, and £44,600 in respect of fair value on revalued tangible assets.

2024

2023

££
Net deferred tax liability (asset)53,01852,700
Total53,01852,700
9.Related party transactions
During the period rent of £4,860 (2023 − £4,860) was paid to the director for use of a property occupied by the company. Nothing was outstanding at the reporting date in this respect (2023 − £nil). During the period rent of £18,300 (2023 - £8,819) was paid by the company to a company in which the director is also a director and majority shareholder for use of storage containers owned by the company. Nothing was outstanding at the reporting date in this respect (2023 − £nil). At the balance sheet date the company was owed £nil (2023 - £108,013) by a company in which the director is also a director and majority shareholder. The sum of £142,963 (2023 - £nil) was written off in the year. This balance is included within other debtors and is unsecured, interest free and repayable on demand. At the balance sheet date the company was owed £8,365 (2023 - £8,365) by a company in which the director is also a director and majority shareholder. This balance is included within other debtors and is unsecured, interest free and repayable on demand. At the balance sheet date the company was owed £27,821 (2023 - £27,821) by a company in which the director is also a director and majority shareholder. This balance is included within other creditors and is unsecured, interest free and repayable on demand. At 1 April 2023 the company owed the director £495. During the period the company made advances to the director amounting to £25,569 and the director made repayments of £13,652. At the reporting date the director owed the company £11,421 and is included within other debtors. Interest of £109 was charged on this loan, which unsecured and repayable on demand.