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Registered number: 04222351









B HOULDSWORTH AND SONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
B HOULDSWORTH AND SONS LIMITED
REGISTERED NUMBER: 04222351

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
216,634
153,686

Investments
 5 
337,500
337,500

  
554,134
491,186

Current assets
  

Stocks
  
2,911,400
2,381,395

Debtors: amounts falling due within one year
 6 
729,678
995,972

Cash at bank and in hand
 7 
136,800
444,377

  
3,777,878
3,821,744

Creditors: amounts falling due within one year
 8 
(217,415)
(237,736)

Net current assets
  
 
 
3,560,463
 
 
3,584,008

Total assets less current liabilities
  
4,114,597
4,075,194

Provisions for liabilities
  

Deferred tax
 9 
(70,179)
(56,463)

  
 
 
(70,179)
 
 
(56,463)

Net assets
  
4,044,418
4,018,731


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Merger reserve
  
70,319
70,319

Profit and loss account
  
3,973,099
3,947,412

  
4,044,418
4,018,731


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
 
Page 1

 
B HOULDSWORTH AND SONS LIMITED
REGISTERED NUMBER: 04222351
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024


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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Richard Houldsworth
Director

Date: 24 January 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
B HOULDSWORTH AND SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

B Houldsworth and Sons Limited is a private company limited by shares, registered in England and Wales.  The registered office address is 30 Leeds Road, Otley, LS21 1BT and the registered number is 04222351.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
B HOULDSWORTH AND SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
B HOULDSWORTH AND SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following basis:

Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
10%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
B HOULDSWORTH AND SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Investment property

Investment property is carried at fair value determined annually by the director or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. 

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 13).

Page 6

 
B HOULDSWORTH AND SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
182,390
169,680
6,060
358,130


Additions
44,155
71,591
-
115,746


Disposals
-
(32,416)
-
(32,416)



At 30 April 2024

226,545
208,855
6,060
441,460



Depreciation


At 1 May 2023
96,965
103,172
4,307
204,444


Charge for the year on owned assets
19,826
29,901
175
49,902


Disposals
-
(29,520)
-
(29,520)



At 30 April 2024

116,791
103,553
4,482
224,826



Net book value



At 30 April 2024
109,754
105,302
1,578
216,634



At 30 April 2023
85,425
66,508
1,753
153,686


5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 May 2023
337,500



At 30 April 2024
337,500




Page 7

 
B HOULDSWORTH AND SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
17,661
54,047

Other debtors
699,567
800,643

Prepayments and accrued income
12,450
141,282

729,678
995,972



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
136,800
444,377

136,800
444,377



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
95,275
80,192

Corporation tax
5,681
24,156

Other taxation and social security
14,317
26,913

Other creditors
89,851
99,491

Accruals and deferred income
12,291
6,984

217,415
237,736



9.


Deferred taxation




2024


£






At beginning of year
(56,463)


Charged to profit or loss
(13,716)



At end of year
(70,179)

Page 8

 
B HOULDSWORTH AND SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(52,137)
(38,421)

Property revaluation
(18,042)
(18,042)

(70,179)
(56,463)

 
Page 9