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Registration number: 04555069


Hancock Machinery Removals Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Hancock Machinery Removals Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Hancock Machinery Removals Limited

Company Information

Directors

G J Grocock

T J Grocock

J Grocock

Registered office

Sandbach Road
Cobridge
Stoke on Trent
ST6 2DF

Accountants

Howsons (Stoke) Limited
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Hancock Machinery Removals Limited

(Registration number: 04555069)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

530,823

533,340

Current assets

 

Debtors

6

76,891

281,266

Cash at bank and in hand

 

98,071

186,770

 

174,962

468,036

Creditors: Amounts falling due within one year

7

(91,858)

(469,090)

Net current assets/(liabilities)

 

83,104

(1,054)

Total assets less current liabilities

 

613,927

532,286

Provisions for liabilities

(100,856)

(99,892)

Net assets

 

513,071

432,394

Capital and reserves

 

Called up share capital

100

100

Retained earnings

512,971

432,294

Shareholders' funds

 

513,071

432,394

For the financial year ending 31 October 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

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.

 

Hancock Machinery Removals Limited

(Registration number: 04555069)
Balance Sheet as at 31 October 2024

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................
G J Grocock
Director

.........................................
T J Grocock
Director

.........................................
J Grocock
Director

 

Hancock Machinery Removals Limited

Notes to the Financial Statements for the Year Ended 31 October 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:
Sandbach Road
Cobridge
Stoke on Trent
ST6 2DF

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hancock Machinery Removals Limited

Notes to the Financial Statements for the Year Ended 31 October 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

Plant and machinery

10% reducing balance basis

Motor Vehicles

25% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Economic life of 20 years

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

 

Hancock Machinery Removals Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 November 2023

61,518

61,518

At 31 October 2024

61,518

61,518

Amortisation

At 1 November 2023

61,518

61,518

At 31 October 2024

61,518

61,518

Carrying amount

At 31 October 2024

-

-

5

Tangible assets

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 November 2023

146,854

702,815

849,669

Additions

-

132,400

132,400

Disposals

-

(179,000)

(179,000)

At 31 October 2024

146,854

656,215

803,069

Depreciation

At 1 November 2023

52,711

263,618

316,329

Charge for the year

23,536

46,645

70,181

Eliminated on disposal

-

(114,264)

(114,264)

At 31 October 2024

76,247

195,999

272,246

Carrying amount

At 31 October 2024

70,607

460,216

530,823

At 31 October 2023

94,143

439,197

533,340

 

Hancock Machinery Removals Limited

Notes to the Financial Statements for the Year Ended 31 October 2024

6

Debtors

2024
£

2023
£

Trade debtors

76,891

254,519

Other debtors

-

26,747

76,891

281,266

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

24,946

33,140

Trade creditors

 

6,449

347,458

Taxation and social security

 

19,944

-

Other creditors

 

13,119

61,092

Directors' loan account

 

27,400

27,400

 

91,858

469,090