Registered number
05640006
A R Hyslop (Lancaster) Limited
Filleted Accounts
30 April 2024
A R Hyslop (Lancaster) Limited
Registered number: 05640006
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,778 2,054
Current assets
Stocks 10,444 11,514
Debtors 5 54,964 56,027
Cash at bank and in hand 12,320 12,852
77,728 80,393
Creditors: amounts falling due within one year 6 (65,420) (74,088)
Net current assets 12,308 6,305
Total assets less current liabilities 14,086 8,359
Provisions for liabilities (1,434) (1,434)
Net assets 12,652 6,925
Capital and reserves
Called up share capital 300 300
Profit and loss account 12,352 6,625
Shareholders' funds 12,652 6,925
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.
Nigel Kennington
Director
Approved by the board on 18 November 2024
A R Hyslop (Lancaster) Limited
Notes to the Accounts
for the year ended 30 April 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 36,500
At 30 April 2024 36,500
Amortisation
At 1 May 2023 36,500
At 30 April 2024 36,500
Net book value
At 30 April 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 34,543
Additions 600
At 30 April 2024 35,143
Depreciation
At 1 May 2023 32,489
Charge for the year 876
At 30 April 2024 33,365
Net book value
At 30 April 2024 1,778
At 30 April 2023 2,054
5 Debtors 2024 2023
£ £
Trade debtors 53,053 54,116
Other debtors 1,911 1,911
54,964 56,027
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 50,787 58,357
Taxation and social security costs 9,493 8,562
Other creditors 5,140 7,169
65,420 74,088
7 Other information
A R Hyslop (Lancaster) Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Owen Road
Lancaster
Lancashire
LA1 2AW
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