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Registration number: 00772790

Joshua Hosier and Son Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Joshua Hosier and Son Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Joshua Hosier and Son Limited

(Registration number: 00772790)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,066,207

2,049,429

Current assets

 

Stocks

5

258,140

268,165

Debtors

6

88,494

36,945

Cash at bank and in hand

 

1,759,015

1,597,781

 

2,105,649

1,902,891

Creditors: Amounts falling due within one year

7

(216,007)

(54,195)

Net current assets

 

1,889,642

1,848,696

Total assets less current liabilities

 

3,955,849

3,898,125

Creditors: Amounts falling due after more than one year

7

(20,666)

(41,332)

Provisions for liabilities

(287,900)

(284,234)

Net assets

 

3,647,283

3,572,559

Capital and reserves

 

Called up share capital

308

308

Revaluation reserve

812,883

812,883

Retained earnings

2,834,092

2,759,368

Shareholders' funds

 

3,647,283

3,572,559

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Joshua Hosier and Son Limited

(Registration number: 00772790)
Balance Sheet as at 30 June 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 March 2025 and signed on its behalf by:
 

.........................................
Mr JG Hosier
Director

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Manor Farm
Buttermere
Marlborough
Wiltshire
SN8 3RQ
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

2% straight line basis

Motor vehicles

25% on reducing balance

Plant and machinery

15% on reducing balance

Office equipment

15% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases and Hire Purchase

Leases and hire purchase finance are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

1,691,244

958,462

2,362

10,850

2,662,918

Additions

-

90,764

-

2,250

93,014

At 30 June 2024

1,691,244

1,049,226

2,362

13,100

2,755,932

Depreciation

At 1 July 2023

-

604,744

1,172

7,573

613,489

Charge for the year

-

74,676

178

1,382

76,236

At 30 June 2024

-

679,420

1,350

8,955

689,725

Carrying amount

At 30 June 2024

1,691,244

369,806

1,012

4,145

2,066,207

At 30 June 2023

1,691,244

353,718

1,190

3,277

2,049,429

Revaluation

The fair value of the company's Land and buildings was revalued on 30 June 2023. An independent valuer was not involved .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £683,672 (2023 - £683,672).

5

Stocks

2024
£

2023
£

Other inventories

258,140

268,165

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

50,417

7,361

Prepayments

8,286

6,577

Other debtors

29,791

23,007

 

88,494

36,945

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

20,666

20,666

Trade creditors

 

146,450

20,501

Taxation and social security

 

27,242

6,227

Other creditors

 

21,649

6,801

 

216,007

54,195

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

20,666

41,332

 

Joshua Hosier and Son Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

20,666

20,666

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

20,666

41,332