6 false false false false false false false false false false true false false true false true true No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 00189761 2023-07-01 2024-06-30 00189761 2024-06-30 00189761 2023-06-30 00189761 2022-07-01 2023-06-30 00189761 2023-06-30 00189761 2022-06-30 00189761 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 00189761 core:PlantMachinery 2023-07-01 2024-06-30 00189761 core:MotorVehicles 2023-07-01 2024-06-30 00189761 bus:Director3 2023-07-01 2024-06-30 00189761 core:WithinOneYear 2024-06-30 00189761 core:WithinOneYear 2023-06-30 00189761 core:ShareCapital 2024-06-30 00189761 core:ShareCapital 2023-06-30 00189761 core:RetainedEarningsAccumulatedLosses 2024-06-30 00189761 core:RetainedEarningsAccumulatedLosses 2023-06-30 00189761 bus:SmallEntities 2023-07-01 2024-06-30 00189761 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 00189761 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 00189761 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00189761 bus:AbridgedAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 00189761
Albert E. Hicks Limited
Filleted Unaudited Abridged Financial Statements
30 June 2024
Albert E. Hicks Limited
Abridged Financial Statements
Year ended 30 June 2024
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 5
Albert E. Hicks Limited
Abridged Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
16,539
117,401
Current assets
Stocks
22,723
25,248
Debtors
131,037
136,048
Cash at bank and in hand
51,189
13,648
---------
---------
204,949
174,944
Creditors: amounts falling due within one year
17,380
41,399
---------
---------
Net current assets
187,569
133,545
---------
---------
Total assets less current liabilities
204,108
250,946
---------
---------
Net assets
204,108
250,946
---------
---------
Capital and reserves
Called up share capital
22,000
22,000
Profit and loss account
182,108
228,946
---------
---------
Shareholders funds
204,108
250,946
---------
---------
These abridged 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 abridged statement of income and retained earnings 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Albert E. Hicks Limited
Abridged Statement of Financial Position (continued)
30 June 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 26 March 2025 , and are signed on behalf of the board by:
Mr D.G. Hicks
Director
Company registration number: 00189761
Albert E. Hicks Limited
Notes to the Abridged Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4A Brecon Court, William Brown Close, Llantarnam Industrial Park, NP44 3AB.
2. Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents gross services provided.
Income tax
Provision is made at current rates for taxation deferred in respect of all material timing differences except to the extent that in the opinion of the directors, there is reasonable probability that the liability will not arise in the forseeable future.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold buildings
-
10% straight line
Plant and equipment
-
20% straight line
Motor vehicles
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Tangible assets
£
Cost
At 1 July 2023
592,538
Disposals
( 113,694)
---------
At 30 June 2024
478,844
---------
Depreciation
At 1 July 2023
475,137
Disposals
( 12,832)
---------
At 30 June 2024
462,305
---------
Carrying amount
At 30 June 2024
16,539
---------
At 30 June 2023
117,401
---------
6. Contingencies
A debenture registered on 16th February 1981 by Barclays Bank Plc provides a fixed charge over the company's freehold property at 1 Grafton Road, Newport NP19 0AS on all monies due or to become due from the company to the chargee on any account whatsoever.
7. Related party transactions
The company was under the control of Mr D.G. Hicks throughout the period. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.