Company registration number 08014586 (England and Wales)
HURN BROS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
HURN BROS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HURN BROS LTD
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
36,000
40,500
Tangible assets
4
914,506
877,271
950,506
917,771
Current assets
Debtors
5
156,291
157,531
Cash at bank and in hand
24,752
113,104
181,043
270,635
Creditors: amounts falling due within one year
6
(417,672)
(474,748)
Net current liabilities
(236,629)
(204,113)
Total assets less current liabilities
713,877
713,658
Creditors: amounts falling due after more than one year
7
(976,621)
(1,053,481)
Net liabilities
(262,744)
(339,823)
Capital and reserves
Called up share capital
102
102
Profit and loss reserves
(262,846)
(339,925)
Total equity
(262,744)
(339,823)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

HURN BROS LTD
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 24 February 2025
Mr S Hurn
Director
Company registration number 08014586 (England and Wales)
HURN BROS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Hurn Bros Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 62 Norwich Street, Dereham, Norfolk, England, NR19 1AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
- 15% reducing balance
Computers
- 20% reducing balance
Motor vehicles
- 25% reducing balance
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

HURN BROS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
90,000
Amortisation and impairment
At 1 May 2023
49,500
Amortisation charged for the year
4,500
At 30 April 2024
54,000
Carrying amount
At 30 April 2024
36,000
At 30 April 2023
40,500
HURN BROS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023
1,726,341
Additions
203,622
At 30 April 2024
1,929,963
Depreciation and impairment
At 1 May 2023
1,047,892
Depreciation charged in the year
166,388
Eliminated in respect of disposals
(198,823)
At 30 April 2024
1,015,457
Carrying amount
At 30 April 2024
914,506
At 30 April 2023
877,271
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
135,362
142,200
Other debtors
20,929
15,331
156,291
157,531
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
42,417
71,521
Trade creditors
157,441
124,410
Taxation and social security
-
0
72,701
Other creditors
217,814
206,116
417,672
474,748
HURN BROS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
53,953
Other creditors
976,621
999,528
976,621
1,053,481
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