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REGISTERED NUMBER: 05510670 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

FRANK HULTON MOTOR ENGINEERS LIMITED

FRANK HULTON MOTOR ENGINEERS LIMITED (REGISTERED NUMBER: 05510670)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FRANK HULTON MOTOR ENGINEERS LIMITED

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr F Hulton



SECRETARY: Mrs M Hulton



REGISTERED OFFICE: 22 Brocklehurst Drive
Harwood
Bolton
Lancashire
BL2 4HH



REGISTERED NUMBER: 05510670 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: HSBC
121a Market Street
Farnworth
Bolton
BL4 8EZ

FRANK HULTON MOTOR ENGINEERS LIMITED (REGISTERED NUMBER: 05510670)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,500 5,000
Tangible assets 5 402 488
2,902 5,488

CURRENT ASSETS
Stocks 1,090 1,090
Debtors 6 35,016 37,191
Cash at bank - 177
36,106 38,458
CREDITORS
Amounts falling due within one year 7 35,161 36,142
NET CURRENT ASSETS 945 2,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,847

7,804

CREDITORS
Amounts falling due after more than one
year

8

3,667

7,667
NET ASSETS 180 137

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 80 37
SHAREHOLDERS' FUNDS 180 137

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

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

The director acknowledges his 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.

FRANK HULTON MOTOR ENGINEERS LIMITED (REGISTERED NUMBER: 05510670)

Statement of Financial Position - continued
31 July 2024


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 director and authorised for issue on 24 January 2025 and were signed by:





Mr F Hulton - Director


FRANK HULTON MOTOR ENGINEERS LIMITED (REGISTERED NUMBER: 05510670)

Notes to the Financial Statements
for the Year Ended 31 July 2024


1. STATUTORY INFORMATION

Frank Hulton Motor Engineers Limited 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.

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.

Turnover
Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are initially recorded at cost.

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

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

FRANK HULTON MOTOR ENGINEERS LIMITED (REGISTERED NUMBER: 05510670)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 50,000
AMORTISATION
At 1 August 2023 45,000
Charge for year 2,500
At 31 July 2024 47,500
NET BOOK VALUE
At 31 July 2024 2,500
At 31 July 2023 5,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 1,136 3,492 400 5,028
DEPRECIATION
At 1 August 2023 1,075 3,192 273 4,540
Charge for year 9 45 32 86
At 31 July 2024 1,084 3,237 305 4,626
NET BOOK VALUE
At 31 July 2024 52 255 95 402
At 31 July 2023 61 300 127 488

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 248 3,798
Other debtors 34,768 33,393
35,016 37,191

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 25,074 23,765
Trade creditors 3,848 4,407
Taxation and social security 3,690 5,829
Other creditors 2,549 2,141
35,161 36,142

FRANK HULTON MOTOR ENGINEERS LIMITED (REGISTERED NUMBER: 05510670)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 3,667 7,667

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.24 31.7.23
£    £   
Within one year - 3,150

10. RELATED PARTY DISCLOSURES

At the end of the year a loan of £26,121 (2023 £23,564) was due to the company from the director. There are no terms governing its repayment and interest has been charged on this loan at market rate.