REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
ALAN HUDSON LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 |
FOR |
ALAN HUDSON LIMITED |
ALAN HUDSON LIMITED (REGISTERED NUMBER: 00613979) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ALAN HUDSON LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants, Tax Consultants |
& Statutory Auditors |
27-29 Old Market |
Wisbech |
Cambridgeshire |
PE13 1NE |
BANKERS: |
SOLICITORS: |
1 - 3 York Row |
Wisbech |
Cambridgeshire |
PE13 1EA |
ALAN HUDSON LIMITED (REGISTERED NUMBER: 00613979) |
BALANCE SHEET |
31 JULY 2024 |
31.7.24 | 31.7.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALAN HUDSON LIMITED (REGISTERED NUMBER: 00613979) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2024 |
1. | STATUTORY INFORMATION |
Alan Hudson Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements. |
Turnover |
Turnover represents invoiced sales of goods, excluding value added tax and is attributable to the company's one continuing activity within the United Kingdom only. Revenue is recognised when the risks and rewards of ownership are transferred, usually at the point of despatch. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such costs include costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value of each asset on a systematic basis over its expected useful life as follows: |
Orchard | 20-40 years Straight line |
Leasehold property improvements | 10 years Straight line |
Renewable energy equipment | 20% Reducing balance |
Tractors, plant and machinery | 20-25% Reducing balance |
Office equipment | 20-33% Reducing balance |
Motor vehicles | 25% Reducing balance |
Tangible fixed assets are not depreciated until the asset is available for use. |
The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying value may not be recoverable, and are written down immediately to their recoverable amount. |
An item of tangible fixed assets is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the profit and loss account when the asset is derecognised. |
The residual values, useful lives and methods of depreciation of tangible fixed assets are reviewed at each financial year end and adjusted prospectively, if appropriate. |
Stocks and work in progress |
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
ALAN HUDSON LIMITED (REGISTERED NUMBER: 00613979) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
The company is a wholly owned subsidiary of a charity registered in the United Kingdom. It is the company's policy that an amount equal to the taxable profits are distributed to the parent charity by way of gift aid within nine months of the year end. As a result no current tax charges or deferred tax charges are likely to result in a payment of taxation. |
Any amounts that are not considered to be relieved by the gift aid payment will be recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Any taxation recognised is calculated at the amount of tax payable using tax rates and laws that have been enacted or substantially enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date which are expected not to be fully relieved by gift aid payments. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Long |
leasehold | Tractors, |
property | plant and |
Orchards | improvements | machinery |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
Disposals |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Eliminated on disposal |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
ALAN HUDSON LIMITED (REGISTERED NUMBER: 00613979) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
Office | Motor |
equipment | vehicles | Totals |
£ | £ | £ |
COST |
At 1 August 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
DEPRECIATION |
At 1 August 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
NET BOOK VALUE |
At 31 July 2024 |
At 31 July 2023 |
5. | STOCKS |
31.7.24 | 31.7.23 |
£ | £ |
Raw materials |
Work-in-progress |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade debtors |
Other debtors |
VAT receivable |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.24 | 31.7.23 |
£ | £ |
Trade creditors |
Social security and other taxes |
Accruals and deferred income |
ALAN HUDSON LIMITED (REGISTERED NUMBER: 00613979) |
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 |
£ | £ |
Other loans (see note 9) |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.7.24 | 31.7.23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans | 40,000 | 40,000 |
During the year ending 31 July 2020, the parent charity, The Hudson Foundation, loaned the company £40,000. The loan is charged interest at 3% above the base rate annually in arrears on 31st July and is secured by a fixed and floating charge over the assets of the company. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | OTHER FINANCIAL COMMITMENTS |
The company is in occupation of land and buildings owned by the parent charity under an oral periodic agricultural holdings act tenancy and two farm business tenancies. The annual rent payable for the occupation of the land and buildings is £33,500. The tenancies continue indefinitely unless action is taken by either the landlord or tenant to bring them to an end. |
12. | POST BALANCE SHEET EVENTS |
Following the year end, £161,237 of the taxable profit will be distributed to the parent charity as a gift aid payment. This payment has reduced the potential corporation tax liability for the year. |
13. | ULTIMATE PARENT UNDERTAKING |
The directors consider the ultimate parent is The Hudson Foundation, an unincorporated charity registered in England & Wales. The principal address of the charity is 1-3 York Row, Wisbech, Cambridgeshire, PE13 1EA. |