Company registration number 01285318 (England and Wales)
HAMMERSLEY & FITCHETT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HAMMERSLEY & FITCHETT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
HAMMERSLEY & FITCHETT LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
225,224
235,190
Current assets
Stocks
59,592
57,841
Debtors
5
241,878
244,809
Cash at bank and in hand
207
271
301,677
302,921
Creditors: amounts falling due within one year
6
(217,899)
(198,512)
Net current assets
83,778
104,409
Total assets less current liabilities
309,002
339,599
Creditors: amounts falling due after more than one year
7
(31,931)
(30,568)
Provisions for liabilities
(53,136)
(55,425)
Net assets
223,935
253,606
Capital and reserves
Called up share capital
2,050
2,050
Profit and loss reserves
221,885
251,556
Total equity
223,935
253,606
HAMMERSLEY & FITCHETT 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 28 March 2025 and are signed on its behalf by:
Mr A. Kemp
Director
Company registration number 01285318 (England and Wales)
HAMMERSLEY & FITCHETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Hammersley & Fitchett Limited is a private company limited by shares incorporated in England and Wales. The registered office is Old Joules Works, Newcastle Street, Stone, Staffordshire, ST15 8JU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and office equipment
15% on reducing balance
Forklift trucks
15% on reducing balance
Motor vehicles
25% on reducing balance
Sales proceeds on the disposal of Fork Lift Trucks are credited to turnover, with the net book value debited to cost of sales.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
HAMMERSLEY & FITCHETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
47,228
47,057
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
12
13
HAMMERSLEY & FITCHETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
4
Tangible fixed assets
Plant and office equipment
Fork lift trucks
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
52,111
475,944
134,317
662,372
Additions
28,570
28,598
57,168
Disposals
(66,018)
(14,011)
(80,029)
At 31 December 2024
52,111
438,496
148,904
639,511
Depreciation and impairment
At 1 January 2024
45,490
282,819
98,873
427,182
Depreciation charged in the year
995
30,335
15,898
47,228
Eliminated in respect of disposals
(46,557)
(13,566)
(60,123)
At 31 December 2024
46,485
266,597
101,205
414,287
Carrying amount
At 31 December 2024
5,626
171,899
47,699
225,224
At 31 December 2023
6,621
193,125
35,444
235,190
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
131,284
134,271
Other debtors
40,594
40,538
171,878
174,809
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
70,000
70,000
Total debtors
241,878
244,809
HAMMERSLEY & FITCHETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
58,087
50,897
Trade creditors
64,486
58,063
Taxation and social security
42,279
55,156
Other creditors
53,047
34,396
217,899
198,512
Within creditors are secured debts of £39,866 (2023: £31,085) relating to hire purchase contracts and £14,167 (2023: £24,167) relating to bank loans.
The hire purchase liability is secured against the assets to which it relates.
The bank loan is secured against the assets of the business to which the loan relates.
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
8
4,151
14,151
Obligations under finance leases
9
27,780
16,417
31,931
30,568
8
Loans and overdrafts
2024
2023
£
£
Bank loans
14,167
24,167
Bank overdrafts
48,071
40,881
62,238
65,048
Payable within one year
58,087
50,897
Payable after one year
4,151
14,151
HAMMERSLEY & FITCHETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
9
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
12,086
14,668
In two to five years
27,780
16,417
39,866
31,085