Company Registration No. 03250569 (England and Wales)
HOFFMANN MACHINE COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
HOFFMANN MACHINE COMPANY LIMITED
COMPANY INFORMATION
Directors
Mr T H Hoffmann
Mr J R Galvin
Secretary
Mr J R Galvin
Company number
03250569
Registered office
C/O PM+M Solutions for Business LLP
New Century House, Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
England
BB1 5QB
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
HOFFMANN MACHINE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
HOFFMANN MACHINE COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,481
6,057
Current assets
Stocks
125,150
151,570
Debtors
4
47,892
28,481
Cash at bank and in hand
73,289
52,816
246,331
232,867
Creditors: amounts falling due within one year
5
(63,350)
(72,506)
Net current assets
182,981
160,361
Total assets less current liabilities
187,462
166,418
Provisions for liabilities
(811)
(1,114)
Net assets
186,651
165,304
Capital and reserves
Called up share capital
5,000
5,000
Profit and loss reserves
181,651
160,304
Total equity
186,651
165,304
The notes on pages 3 to 5 form part of these financial statements.
HOFFMANN MACHINE COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 20 March 2025 and are signed on its behalf by:
Mr J R Galvin
Director
Company registration number 03250569 (England and Wales)
HOFFMANN MACHINE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Hoffmann Machine Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O PM+M Solutions for Business LLP, New Century House, Greenbank Technology Park, Challenge Way, Blackburn, Lancashire, England, BB1 5QB.
1.1
Accounting convention
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised in the period the goods are delivered.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Computers
50% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognized in the Income Statement, except to the extent that it relates to items recognized in other comprehensive income or directly in equity.
Current tax
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognized in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognized 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 recognized 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.
HOFFMANN MACHINE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
1.7
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
5
5
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024 and 31 December 2024
7,922
3,630
14,700
26,252
Depreciation and impairment
At 1 January 2024
6,276
3,385
10,534
20,195
Depreciation charged in the year
412
123
1,041
1,576
At 31 December 2024
6,688
3,508
11,575
21,771
Carrying amount
At 31 December 2024
1,234
122
3,125
4,481
At 31 December 2023
1,646
245
4,166
6,057
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
44,366
25,043
Other debtors
3,526
3,438
47,892
28,481
HOFFMANN MACHINE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,854
42,662
Taxation and social security
38,972
25,572
Other creditors
13,524
4,272
63,350
72,506
6
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
37,333
44,333
7
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
The value of purchases from a company controlled by a director in the period was £235,897 (2023 - £194,594).