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Registered number: 03533240
Hunnington Limited
Financial Statements
For The Year Ended 30 April 2024
Fruition Accountancy Limited
Unit 4 Three Spires House, Station Road
Lichfield
WS13 6HX
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03533240
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 98,322 64,412
Investments 6 56,785 46,836
155,107 111,248
CURRENT ASSETS
Stocks 7 11,540 4,144
Debtors 8 317,657 316,210
Cash at bank and in hand 479,277 415,133
808,474 735,487
Creditors: Amounts Falling Due Within One Year 9 (370,311 ) (233,546 )
NET CURRENT ASSETS (LIABILITIES) 438,163 501,941
TOTAL ASSETS LESS CURRENT LIABILITIES 593,270 613,189
PROVISIONS FOR LIABILITIES
Deferred Taxation (24,580 ) (16,103 )
NET ASSETS 568,690 597,086
CAPITAL AND RESERVES
Called up share capital 10 102 102
Profit and Loss Account 568,588 596,984
SHAREHOLDERS' FUNDS 568,690 597,086
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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 David Pugh
Director
13th January 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hunnington Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03533240 . The registered office is C/O Fruition Accountancy Ltd , Unit 4 Three Spires House, Station Road, Lichfield, WS13 6HX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 20% straight line
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
Computer Equipment 33% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 6,800
As at 30 April 2024 6,800
Amortisation
As at 1 May 2023 6,800
As at 30 April 2024 6,800
Net Book Value
As at 30 April 2024 -
As at 1 May 2023 -
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5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 105,384 236,074 11,867 13,588 366,913
Additions 934 55,700 - 13,112 69,746
Disposals - - - (6,839 ) (6,839 )
As at 30 April 2024 106,318 291,774 11,867 19,861 429,820
Depreciation
As at 1 May 2023 96,635 182,200 11,867 11,799 302,501
Provided during the period 2,115 29,129 - 4,229 35,473
Disposals - - - (6,476 ) (6,476 )
As at 30 April 2024 98,750 211,329 11,867 9,552 331,498
Net Book Value
As at 30 April 2024 7,568 80,445 - 10,309 98,322
As at 1 May 2023 8,749 53,874 - 1,789 64,412
6. Investments
Subsidiaries Other Total
£ £ £
Cost
As at 1 May 2023 51 46,785 46,836
Additions - 10,000 10,000
Disposals (51 ) - (51 )
As at 30 April 2024 - 56,785 56,785
Provision
As at 1 May 2023 - - -
As at 30 April 2024 - - -
Net Book Value
As at 30 April 2024 - 56,785 56,785
As at 1 May 2023 51 46,785 46,836
7. Stocks
2024 2023
£ £
Work in progress 11,540 4,144
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8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 272,559 204,068
Amounts owed by group undertakings - 87,151
Other debtors 45,098 24,991
317,657 316,210
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 72,670 79,029
Amounts owed to group undertakings 84,215 -
Other creditors 73,683 73,881
Taxation and social security 139,743 80,636
370,311 233,546
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 102 102
11. Pension Commitments
The company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £2,021 (2023: £1,576) were due to the fund. They are included in Social security and other Taxes.
12. Ultimate Controlling Party
The company's ultimate controlling party is Hunnington Group Limited by virtue of his ownership of 98% of the issued share capital in the company.
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