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Company Registration No. 12467586 (England and Wales)
HB Machinery Ltd Unaudited accounts for the year ended 29 February 2024
HB Machinery Ltd Unaudited accounts Contents
Page
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HB Machinery Ltd Company Information for the year ended 29 February 2024
Directors
Harry Boardman Donna Boardman
Company Number
12467586 (England and Wales)
Registered Office
1 FIRST AVENUE WREA GREEN PRESTON LANCASHIRE PR4 2WR UNITED KINGDOM
Accountants
Walling Accountants Unit 1B Hallidays Farm Bilsborrow Preston PR3 0RU
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HB Machinery Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
17,490 
19,997 
Current assets
Inventories
455,936 
277,231 
Debtors
80,819 
204,904 
Cash at bank and in hand
123,432 
177,027 
660,187 
659,162 
Creditors: amounts falling due within one year
(319,910)
(381,576)
Net current assets
340,277 
277,586 
Total assets less current liabilities
357,767 
297,583 
Creditors: amounts falling due after more than one year
(30,975)
(36,338)
Provisions for liabilities
Deferred tax
(3,323)
(3,800)
Net assets
323,469 
257,445 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
323,369 
257,345 
Shareholders' funds
323,469 
257,445 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by
Harry Boardman Director Company Registration No. 12467586
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HB Machinery Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
HB Machinery Ltd is a private company, limited by shares, registered in England and Wales, registration number 12467586. The registered office is 1 FIRST AVENUE, WREA GREEN, PRESTON, LANCASHIRE, PR4 2WR, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
25% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
33.3% on cost
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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HB Machinery Ltd Notes to the Accounts for the year ended 29 February 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 March 2023
10,650 
9,050 
6,000 
1,800 
5,153 
32,653 
Additions
- 
- 
- 
461 
1,621 
2,082 
At 29 February 2024
10,650 
9,050 
6,000 
2,261 
6,774 
34,735 
Depreciation
At 1 March 2023
310 
4,526 
3,300 
488 
4,032 
12,656 
Charge for the year
1,066 
1,131 
675 
901 
816 
4,589 
At 29 February 2024
1,376 
5,657 
3,975 
1,389 
4,848 
17,245 
Net book value
At 29 February 2024
9,274 
3,393 
2,025 
872 
1,926 
17,490 
At 28 February 2023
10,340 
4,524 
2,700 
1,312 
1,121 
19,997 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
36,946 
61,498 
Trade debtors
43,873 
143,406 
80,819 
204,904 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,363 
5,230 
Trade creditors
61,147 
103,062 
Taxes and social security
26,213 
55,178 
Other creditors
448 
- 
Loans from directors
226,739 
218,106 
319,910 
381,576 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
30,975 
36,338 
8
Average number of employees
During the year the average number of employees was 3 (2023: 2).
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