2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2024 - FRS102_2024 1,368 1,368 342 342 1,026 xbrli:pure xbrli:shares iso4217:GBP 07285572 2023-07-01 2024-06-30 07285572 2024-06-30 07285572 2023-06-30 07285572 2022-07-01 2023-06-30 07285572 2023-06-30 07285572 2022-06-30 07285572 bus:Director1 2023-07-01 2024-06-30 07285572 core:WithinOneYear 2024-06-30 07285572 core:WithinOneYear 2023-06-30 07285572 core:ShareCapital 2024-06-30 07285572 core:ShareCapital 2023-06-30 07285572 core:RetainedEarningsAccumulatedLosses 2024-06-30 07285572 core:RetainedEarningsAccumulatedLosses 2023-06-30 07285572 bus:SmallEntities 2023-07-01 2024-06-30 07285572 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07285572 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07285572 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07285572 bus:FullAccounts 2023-07-01 2024-06-30 07285572 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 07285572 core:OtherPropertyPlantEquipment 2024-06-30
COMPANY REGISTRATION NUMBER: 07285572
Hasbury Motors Limited
Filleted Unaudited Financial Statements
30 June 2024
Hasbury Motors Limited
Financial Statements
Year ended 30 June 2024
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 5
Hasbury Motors Limited
Balance Sheet
30 June 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,026
Current assets
Stocks
226,382
162,957
Cash at bank and in hand
236,996
353,862
---------
---------
463,378
516,819
Creditors: amounts falling due within one year
6
144,151
182,630
---------
---------
Net current assets
319,227
334,189
---------
---------
Total assets less current liabilities
320,253
334,189
---------
---------
Net assets
320,253
334,189
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
320,153
334,089
---------
---------
Shareholders funds
320,253
334,189
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hasbury Motors Limited
Balance Sheet (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 17 March 2025 , and are signed on behalf of the board by:
Mr S J Lee
Director
Company registration number: 07285572
Hasbury Motors Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales, registration number 07285572 . The address of the registered office is 70 Stourbridge Road, Halesowen, West Midlands, B63 3UP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Revenue recognition
Turnover comprises the value of sales (exclusive of VAT) of goods provided in the normal course of business. Revenue is recognised when goods are despatched, which is the same day as delivery and hence the point at which the risks and rewards of ownership pass to the buyer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost represents purchase invoice price. Net realisable value is the estimated proceeds from the sale of stock items.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Cash at bank and in hand This comprises cash at bank and cash in hand.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 July 2023
Additions
1,368
1,368
-------
-------
At 30 June 2024
1,368
1,368
-------
-------
Depreciation
At 1 July 2023
Charge for the year
342
342
-------
-------
At 30 June 2024
342
342
-------
-------
Carrying amount
At 30 June 2024
1,026
1,026
-------
-------
At 30 June 2023
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,000
Corporation tax
9,280
303
Social security and other taxes
7,914
5,372
Other creditors
125,957
176,955
---------
---------
144,151
182,630
---------
---------