Company No:
Contents
2024 | 2023 | |||
£ | £ | |||
Restated - note 2 | ||||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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22,191 | 18,080 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 2,232 | 4,911 | ||
Total assets less current liabilities | 2,232 | 4,911 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 6 |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of The H&S Dept (Territories) Ltd (registered number:
K J Sadler
Director |
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.
The H&S Dept (Territories) Ltd (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 3 Brook Office Park, Emerson's Green, Bristol, BS16 7FL, 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 £.
In 2024 the directors made the decision that the Company would cease trading and that the residual trading activities be transferred to certain fellow group companies. The transfer was finalised in July 2024. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
The Dividends declared and paid and Amounts owed to Parent undertakings were understated by £10,000, and Profit and Loss account was overstated by £10,000 in the previous year.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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 Statement of Financial Position date.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
At the year ended 31 July 2023 there were no adjustments made with respect to dividends between group companies proposed in the minutes of a meeting between the Board of Directors.
The statement of financial position and statement of income and retained earnings have been restated to reflect the correct position.
As previously reported | Adjustment | As restated | ||||
Year ended 31 July 2023 | £ | £ | £ | |||
Dividends declared and paid | 0 | (10,000) | (10,000) | |||
Amounts owed to Parent undertakings | 0 | 10,000 | 10,000 | |||
Profit and loss account | 14,910 | (10,000) | 4,910 |
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Amounts owed by Group undertakings |
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£ | £ | ||
Amounts owed to Parent undertakings |
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Accruals |
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Taxation and social security |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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The Company has taken advantage of the exemption in section 1AC.35 of FRS 102 to not disclose related party transactions with wholly owned subsidiaries within the group.