2023-03-012024-02-292024-02-29false05368691H M Reading 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H M Reading Limited

Registered Number
05368691
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

H M Reading Limited
Company Information
for the year from 1 March 2023 to 29 February 2024

Directors

Mrs E Murdoch
Mr FP Murdoch

Registered Address

Unit 4 Green Farm
Burghfield
Reading
RG30 3TU

Registered Number

05368691 (England and Wales)
H M Reading Limited
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets334,75540,691
34,75540,691
Current assets
Stocks25,84223,493
Debtors4757,153641,235
Cash at bank and on hand32,89459,716
815,889724,444
Creditors amounts falling due within one year5(114,466)(114,991)
Net current assets (liabilities)701,423609,453
Total assets less current liabilities736,178650,144
Creditors amounts falling due after one year6(9,138)(16,065)
Provisions for liabilities(7,096)(7,731)
Net assets719,944626,348
Capital and reserves
Called up share capital300300
Profit and loss account719,644626,048
Shareholders' funds719,944626,348
The financial statements were approved and authorised for issue by the Board of Directors on 28 November 2024, and are signed on its behalf by:
Mr FP Murdoch
Director
Registered Company No. 05368691
H M Reading Limited
Notes to the Financial Statements
for the year ended 29 February 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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Functional and presentation currency
The presentation currency of the financial statements is the Pound Sterling (£).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Current taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Vehicles4
Office Equipment4
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.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities. Financial assets are measured at amortised cost and comprise of cash and cash equivalents and trade and other debtors. Financial liabilities are measured at amortised cost and comprise of trade and other creditors.
2.Average number of employees

20242023
Average number of employees during the year1212
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 March 23193,451
Additions8,441
At 29 February 24201,892
Depreciation and impairment
At 01 March 23152,759
Charge for year14,378
At 29 February 24167,137
Net book value
At 29 February 2434,755
At 28 February 2340,691
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables424,344383,143
Amounts owed by associates and joint ventures / participating interests99,43049,689
Other debtors24,72713,938
Prepayments and accrued income208,652194,465
Total757,153641,235
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables41,70847,462
Amounts owed to related parties5,99411,827
Taxation and social security46,45332,585
Finance lease and HP contracts6,9277,320
Other creditors12,12514,538
Accrued liabilities and deferred income1,2591,259
Total114,466114,991
6.Creditors: amounts due after one year

2024

2023

££
Other creditors9,13816,065
Total9,13816,065
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts9,13816,065