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REGISTERED NUMBER: 03167867 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

JAMES HUNTLEY & SONS LTD

JAMES HUNTLEY & SONS LTD (REGISTERED NUMBER: 03167867)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JAMES HUNTLEY & SONS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTORS: J Huntley
J S Huntley



SECRETARY: Mrs S E Huntley



REGISTERED OFFICE: Ashley Crescent
Sholing
Southampton
Hampshire
SO19 9NA



REGISTERED NUMBER: 03167867 (England and Wales)



ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR



BANKERS: Natwest Bank PLC
Woolston
Southampton
SO15 2AQ

JAMES HUNTLEY & SONS LTD (REGISTERED NUMBER: 03167867)

BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 355,293 394,943

CURRENT ASSETS
Inventories 365,565 430,324
Debtors 5 99,225 37,676
Cash at bank and in hand 125,079 303,081
589,869 771,081
CREDITORS
Amounts falling due within one year 6 404,573 549,752
NET CURRENT ASSETS 185,296 221,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

540,589

616,272

PROVISIONS FOR LIABILITIES 88,520 98,382
NET ASSETS 452,069 517,890

CAPITAL AND RESERVES
Called up share capital 7 52 52
Share premium 301,435 301,435
Retained earnings 150,582 216,403
SHAREHOLDERS' FUNDS 452,069 517,890

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12th January 2025 and were signed on its behalf by:





J Huntley - Director


JAMES HUNTLEY & SONS LTD (REGISTERED NUMBER: 03167867)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024


1. STATUTORY INFORMATION

James Huntley & Sons Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the 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 as modified by the revaluation of certain assets.

Turnover
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 5% on cost
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

JAMES HUNTLEY & SONS LTD (REGISTERED NUMBER: 03167867)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1st November 2023 38,326 113,492 1,107,989
Additions - - 13,800
At 31st October 2024 38,326 113,492 1,121,789
DEPRECIATION
At 1st November 2023 38,326 112,075 735,100
Charge for year - 200 58,003
At 31st October 2024 38,326 112,275 793,103
NET BOOK VALUE
At 31st October 2024 - 1,217 328,686
At 31st October 2023 - 1,417 372,889

JAMES HUNTLEY & SONS LTD (REGISTERED NUMBER: 03167867)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


4. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st November 2023 56,516 24,626 1,340,949
Additions 16,500 - 30,300
At 31st October 2024 73,016 24,626 1,371,249
DEPRECIATION
At 1st November 2023 41,599 18,906 946,006
Charge for year 7,855 3,892 69,950
At 31st October 2024 49,454 22,798 1,015,956
NET BOOK VALUE
At 31st October 2024 23,562 1,828 355,293
At 31st October 2023 14,917 5,720 394,943

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 91,801 33,687
Other debtors 7,424 3,989
99,225 37,676

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 816
Taxation and social security 214,182 248,758
Other creditors 190,391 300,178
404,573 549,752

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
49 Ordinary £1 49 49
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
52 52