Registered number
10745794
White Hill Commercials Ltd
Filleted Accounts
31 March 2024
White Hill Commercials Ltd
Registered number: 10745794
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 267,621 290,968
Current assets
Stocks 459,029 401,793
Debtors 4 89,067 133,094
548,096 534,887
Creditors: amounts falling due within one year 5 (240,376) (151,996)
Net current assets 307,720 382,891
Total assets less current liabilities 575,341 673,859
Creditors: amounts falling due after more than one year 6 (106,509) (160,022)
Net assets 468,832 513,837
Capital and reserves
Called up share capital 30 30
Profit and loss account 468,802 513,807
Shareholders' funds 468,832 513,837
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M Johnson
Director
Approved by the board on 24 April 2024
White Hill Commercials Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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).
Turnover
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% Reducing Balance
Motor Vehicles 5% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 131,466 436,817 568,283
Additions 3,135 3,000 6,135
At 31 March 2024 134,601 439,817 574,418
Depreciation
At 1 April 2023 67,803 209,512 277,315
Charge for the year 10,050 19,432 29,482
At 31 March 2024 77,853 228,944 306,797
Net book value
At 31 March 2024 56,748 210,873 267,621
At 31 March 2023 63,663 227,305 290,968
4 Debtors 2024 2023
£ £
Trade debtors 67,392 113,094
Other debtors 21,675 20,000
89,067 133,094
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 254,840 202,025
Taxation and social security costs (1,779) (38,671)
Other creditors (12,685) (11,358)
240,376 151,996
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 44,095 63,333
Obligations under finance lease and hire purchase contracts 62,414 96,689
106,509 160,022
7 Related party transactions
During the period the company continued to loan £21,675 (2023: £20,000) to White Hill Fabrication Ltd whose directors are family members of White Hill Commercials Ltd. This loan currently bears no interest or payback period.
8 Other information
White Hill Commercials Ltd is a private company limited by shares and incorporated in England. Its registered office is:
White Hill Farm
Hatkill Lane
York
YO41 1HR
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