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Registration number: 05768588

H J & D Webb & Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

H J & D Webb & Sons Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

H J & D Webb & Sons Limited

Company Information

Directors

Mr J J Webb

Mr R H Webb

Mr D M Webb

Mrs L A M Webb

Mrs P M Webb

Mr P R Webb

Company secretary

Mr P R Webb

Registered office

Victoria Hardware Stores
High Street
Crickhowell
Powys
NP8 1BD

Bankers

Lloyds Bank plc
54 Cross Street
Abergavenny
Monmouthshire
NP7 5HB

Accountants

W J James & Co
Chartered AccountantsBishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

H J & D Webb & Sons Limited

(Registration number: 05768588)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,223,580

2,280,289

Other financial assets

5

1,390

1,390

 

2,224,970

2,281,679

Current assets

 

Stocks

6

640,295

698,720

Debtors

7

30,186

9,478

Cash at bank and in hand

 

80,118

49,972

 

750,599

758,170

Creditors: Amounts falling due within one year

8

(1,002,239)

(1,038,562)

Net current liabilities

 

(251,640)

(280,392)

Total assets less current liabilities

 

1,973,330

2,001,287

Creditors: Amounts falling due after more than one year

8

(340,656)

(275,057)

Provisions for liabilities

(32,134)

(33,505)

Net assets

 

1,600,540

1,692,725

Capital and reserves

 

Called up share capital

12

12

Share premium reserve

94,240

94,240

Retained earnings

1,506,288

1,598,473

Shareholders' funds

 

1,600,540

1,692,725

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.

These financial statements have been prepared and 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 7 March 2025 and signed on its behalf by:
 

 

H J & D Webb & Sons Limited

(Registration number: 05768588)
Balance Sheet as at 30 June 2024

.........................................
Mr J J Webb
Director

.........................................
Mr R H Webb
Director

.........................................
Mr D M Webb
Director

.........................................
Mr P R Webb
Company secretary and director

 

H J & D Webb & Sons Limited

Notes to the Unaudited 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:
Victoria Hardware Stores
High Street
Crickhowell
Powys
NP8 1BD
United Kingdom

These financial statements were authorised for issue by the Board on 7 March 2025.

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.

The financial statements are presented in pounds sterling, which is the functional currency of the company, and rounded to the nearest £1.

Revenue recognition

Turnover represents cash sales and invoiced sales of goods, excluding Value Added Tax. Sales are recognised when the customer takes delivery of the goods. Deposits received in respect of goods ordered but not delivered are included in liabilities as payments on account.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 UK, which is where the company operates and generates taxable income.

 

H J & D Webb & Sons Limited

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

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost less any subsequent accumulated depreciation.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% on cost

Fixtures and fittings

10% on cost

Plant and machinery

10% on cost

Computer equipment

20% on cost

Motor vehicles

20% on cost

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business. These are recognised at the transaction price.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

Trade creditors

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

Borrowings

Interest-bearing borrowings are recorded at fair value, net of transaction costs.

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.

 

H J & D Webb & Sons Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the value of the cash received .

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2023 - 21).

4

Tangible assets

Freehold property
£

Fixtures and fittings
£

Plant and machinery
£

Computer equipment
£

Cost or valuation

At 1 July 2023

2,649,683

112,479

16,333

57,773

Additions

-

1,660

-

6,987

At 30 June 2024

2,649,683

114,139

16,333

64,760

Depreciation

At 1 July 2023

425,891

72,073

12,999

49,527

Charge for the year

52,803

7,314

400

4,735

At 30 June 2024

478,694

79,387

13,399

54,262

Carrying amount

At 30 June 2024

2,170,989

34,752

2,934

10,498

At 30 June 2023

2,223,792

40,406

3,334

8,246

 

H J & D Webb & Sons Limited

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

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

79,213

2,915,481

Additions

2,749

11,396

At 30 June 2024

81,962

2,926,877

Depreciation

At 1 July 2023

74,702

635,192

Charge for the year

2,853

68,105

At 30 June 2024

77,555

703,297

Carrying amount

At 30 June 2024

4,407

2,223,580

At 30 June 2023

4,511

2,280,289

Included within the net book value of land and buildings above is £2,170,989 (2023 - £2,223,792) in respect of freehold land and buildings.
 

 

H J & D Webb & Sons Limited

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

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

1,390

1,390

At 30 June 2024

1,390

1,390

Impairment

Carrying amount

At 30 June 2024

1,390

1,390

6

Stocks

2024
£

2023
£

Other inventories

640,295

698,720

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,631

418

Prepayments

28,555

9,060

 

30,186

9,478

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

14,291

48,808

Trade creditors

 

263,710

232,099

Taxation and social security

 

93,159

100,945

Accruals and deferred income

 

25,949

26,732

Other creditors

 

605,130

629,978

 

1,002,239

1,038,562

 

H J & D Webb & Sons Limited

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

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

340,656

275,057

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

340,656

275,057

Current loans and borrowings

2024
£

2023
£

Bank borrowings

14,291

48,808