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Registered number: 02705269
Andrew Horner & Son Limited
Financial Statements
For The Year Ended 31 May 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02705269
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 53,711 62,454
53,711 62,454
CURRENT ASSETS
Stocks 5 76,910 39,250
Debtors 6 89,641 187,828
Cash at bank and in hand 264,515 189,512
431,066 416,590
Creditors: Amounts Falling Due Within One Year 7 (111,583 ) (112,272 )
NET CURRENT ASSETS (LIABILITIES) 319,483 304,318
TOTAL ASSETS LESS CURRENT LIABILITIES 373,194 366,772
NET ASSETS 373,194 366,772
CAPITAL AND RESERVES
Called up share capital 8 10,000 10,000
Profit and Loss Account 363,194 356,772
SHAREHOLDERS' FUNDS 373,194 366,772
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P J Horner
Director
26th February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Andrew Horner & Son Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02705269 . The registered office is 55 Hoghton Street, Southport, Merseyside, PR9 0PG. The company's functional and presentational currency is GBP and no level of rounding has been used in the preparation of the financial statements.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 5% reducing balance basis
Plant & Machinery 15% reducing balance basis
Motor Vehicles 25% reducing balance basis
Fixtures & Fittings 15% reducing balance basis
2.4. 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. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 June 2023 24,714 301,307 28,195 31,181 385,397
As at 31 May 2024 24,714 301,307 28,195 31,181 385,397
Depreciation
As at 1 June 2023 18,635 252,416 26,170 25,722 322,943
Provided during the period 304 7,334 506 599 8,743
As at 31 May 2024 18,939 259,750 26,676 26,321 331,686
Net Book Value
As at 31 May 2024 5,775 41,557 1,519 4,860 53,711
As at 1 June 2023 6,079 48,891 2,025 5,459 62,454
5. Stocks
2024 2023
£ £
Materials 21,033 18,760
Work in progress 55,877 20,490
76,910 39,250
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 85,413 183,091
Other debtors 4,228 4,737
89,641 187,828
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 58,744 51,100
Other creditors 35,799 34,496
Taxation and social security 17,040 26,676
111,583 112,272
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
Page 5