Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr R Dunford 02/04/2013 28 January 2025 The principal activity of the company is one of selling logs. 08468041 2024-04-30 08468041 bus:Director1 2024-04-30 08468041 2023-04-30 08468041 core:CurrentFinancialInstruments 2024-04-30 08468041 core:CurrentFinancialInstruments 2023-04-30 08468041 core:Non-currentFinancialInstruments 2024-04-30 08468041 core:Non-currentFinancialInstruments 2023-04-30 08468041 core:ShareCapital 2024-04-30 08468041 core:ShareCapital 2023-04-30 08468041 core:RetainedEarningsAccumulatedLosses 2024-04-30 08468041 core:RetainedEarningsAccumulatedLosses 2023-04-30 08468041 core:PlantMachinery 2023-04-30 08468041 core:Vehicles 2023-04-30 08468041 core:ComputerEquipment 2023-04-30 08468041 core:PlantMachinery 2024-04-30 08468041 core:Vehicles 2024-04-30 08468041 core:ComputerEquipment 2024-04-30 08468041 2022-04-30 08468041 2023-05-01 2024-04-30 08468041 bus:FilletedAccounts 2023-05-01 2024-04-30 08468041 bus:SmallEntities 2023-05-01 2024-04-30 08468041 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 08468041 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08468041 bus:Director1 2023-05-01 2024-04-30 08468041 core:PlantMachinery 2023-05-01 2024-04-30 08468041 core:Vehicles 2023-05-01 2024-04-30 08468041 core:ComputerEquipment 2023-05-01 2024-04-30 08468041 2022-05-01 2023-04-30 08468041 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Company No: 08468041 (England and Wales)

HONEYSTREET LOGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

HONEYSTREET LOGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

HONEYSTREET LOGS LIMITED

BALANCE SHEET

As at 30 April 2024
HONEYSTREET LOGS LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 90,260 56,125
90,260 56,125
Current assets
Stocks 0 3,000
Debtors 4 12,011 16,329
Cash at bank and in hand 3,472 10,325
15,483 29,654
Creditors: amounts falling due within one year 5 ( 44,382) ( 51,588)
Net current liabilities (28,899) (21,934)
Total assets less current liabilities 61,361 34,191
Creditors: amounts falling due after more than one year 6 ( 26,344) ( 9,037)
Provision for liabilities 7 ( 17,150) ( 10,664)
Net assets 17,867 14,490
Capital and reserves
Called-up share capital 100 100
Profit and loss account 17,767 14,390
Total shareholders' funds 17,867 14,490

For the financial 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.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Honeystreet Logs Limited (registered number: 08468041) were approved and authorised for issue by the Director on 28 January 2025. They were signed on its behalf by:

Mr R Dunford
Director
HONEYSTREET LOGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
HONEYSTREET LOGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Honeystreet Logs Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis, despite having net current liabilities at the balance sheet date. The directors have agreed to support the company for the foreseeable future from the balance sheet date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 % reducing balance
Vehicles 20 % reducing balance
Computer equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Plant and machinery Vehicles Computer equipment Total
£ £ £ £
Cost
At 01 May 2023 41,062 24,985 164 66,211
Additions 3,900 41,714 0 45,614
At 30 April 2024 44,962 66,699 164 111,825
Accumulated depreciation
At 01 May 2023 6,734 3,331 21 10,086
Charge for the financial year 3,661 7,783 35 11,479
At 30 April 2024 10,395 11,114 56 21,565
Net book value
At 30 April 2024 34,567 55,585 108 90,260
At 30 April 2023 34,328 21,654 143 56,125

4. Debtors

2024 2023
£ £
Trade debtors 147 280
Corporation tax 1,002 2,614
Other debtors 10,862 13,435
12,011 16,329

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,970 3,873
Trade creditors 13,170 15,028
Accruals 2,150 2,089
Taxation and social security 0 1,071
Obligations under finance leases and hire purchase contracts 10,483 22,673
Other creditors 14,609 6,854
44,382 51,588

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,970 9,037
Obligations under finance leases and hire purchase contracts 21,374 0
26,344 9,037

There are no amounts included above in respect of which any security has been given by the small entity.

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 10,664) ( 7,462)
Charged to the Statement of Income and Retained Earnings ( 6,486) ( 3,202)
At the end of financial year ( 17,150) ( 10,664)

8. Related party transactions

2024 2023
£ £
At 1 May 2023 8,024 9,206
Advance to directrors 22,021 18,818
Repaid during the period (25,771) (20,000)
4,274 8,024