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Registered number: 06214720
A & E HYDE LIMITED
Unaudited Financial Statements
For The Year Ended 30 April 2024
Goldwyns London LLP
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 06214720
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 22,500 62,500
22,500 62,500
CURRENT ASSETS
Debtors 5 11,644 13,609
Cash at bank and in hand 5,547 6,379
17,191 19,988
Creditors: Amounts Falling Due Within One Year 6 (7,660 ) (6,992 )
NET CURRENT ASSETS (LIABILITIES) 9,531 12,996
TOTAL ASSETS LESS CURRENT LIABILITIES 32,031 75,496
NET ASSETS 32,031 75,496
CAPITAL AND RESERVES
Called up share capital 7 102 102
Profit and Loss Account 31,929 75,394
SHAREHOLDERS' FUNDS 32,031 75,496
For the year ending 30 April 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Hyde
Director
24/12/2024
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
A & E HYDE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 06214720 . The registered office is 28 Imperial Avenue, Westcliff-On-Sea, Essex, SS0 8NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound
The principle accounting polices adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.5. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.
2.6. Investments
Investments in unlisted companies such as interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
2.7. Cash And Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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Page 3
2.8. Critical Accounting Judgements And Key Sources Of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investments
Unlisted
£
Cost
As at 1 May 2023 62,500
As at 30 April 2024 62,500
Provision
As at 1 May 2023 -
Impairment losses 40,000
As at 30 April 2024 40,000
Net Book Value
As at 30 April 2024 22,500
As at 1 May 2023 62,500
5. Debtors
2024 2023
£ £
Due within one year
Shareholder's loan account 11,644 13,609
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 3,157 4,622
Accruals and deferred income 4,503 2,370
7,660 6,992
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
The nominal value per share is £1 and as at year-end there are 100 Ordinary Share and 2 Ordinary A Share in issue.
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Page 4
8. Related Party Transactions
As at the year-end, shareholders owed the company £11,644. This amount is a current asset, interest free and receivable on demand.
Page 4