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COMPANY REGISTRATION NUMBER: 04973851
D L Hancock Limited
Filleted Unaudited Financial Statements
30 November 2023
D L Hancock Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
159,682
81,956
Current assets
Stocks
6,533
7,177
Debtors
6
572,576
480,196
Cash at bank and in hand
22,771
34,249
---------
---------
601,880
521,622
Creditors: amounts falling due within one year
7
152,636
82,602
---------
---------
Net current assets
449,244
439,020
---------
---------
Total assets less current liabilities
608,926
520,976
Creditors: amounts falling due after more than one year
8
102,799
51,204
---------
---------
Net assets
506,127
469,772
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
506,126
469,771
---------
---------
Shareholders funds
506,127
469,772
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
D L Hancock Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 30 November 2024 , and are signed on behalf of the board by:
Mr D L Hancock
Director
Company registration number: 04973851
D L Hancock Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Chapel House, 13 North Street, Bicester, Oxon, OX26 6NA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
25% straight line
Motor Vehicles
-
25% reducing balance
Fixtures, Fittings & Office Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 10 ).
5. Tangible assets
Land and buildings
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2022
14,650
33,651
394,845
44,935
488,081
Additions
123,020
2,514
125,534
Disposals
( 268,985)
( 268,985)
--------
--------
---------
--------
---------
At 30 November 2023
14,650
33,651
248,880
47,449
344,630
--------
--------
---------
--------
---------
Depreciation
At 1 December 2022
33,651
333,026
39,448
406,125
Charge for the year
46,208
1,600
47,808
Disposals
( 268,985)
( 268,985)
--------
--------
---------
--------
---------
At 30 November 2023
33,651
110,249
41,048
184,948
--------
--------
---------
--------
---------
Carrying amount
At 30 November 2023
14,650
138,631
6,401
159,682
--------
--------
---------
--------
---------
At 30 November 2022
14,650
61,819
5,487
81,956
--------
--------
---------
--------
---------
6. Debtors
2023
2022
£
£
Trade debtors
218,770
127,680
Other debtors
353,806
352,516
---------
---------
572,576
480,196
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
525
575
Corporation tax
57,779
57,779
Social security and other taxes
3,319
3,468
Other creditors
91,013
20,780
---------
--------
152,636
82,602
---------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
102,799
51,204
---------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D L Hancock
( 1,221)
( 97,337)
58,960
( 39,598)
-------
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr D L Hancock
( 678)
( 13,841)
13,298
( 1,221)
----
--------
--------
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