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01/09/2023
31/08/2024
2024-08-31
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No description of principal activities is disclosed
2023-09-01
Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
06687354
2023-09-01
2024-08-31
06687354
2024-08-31
06687354
2023-08-31
06687354
2022-09-01
2023-08-31
06687354
2023-08-31
06687354
2022-08-31
06687354
core:PlantMachinery
2023-09-01
2024-08-31
06687354
core:FurnitureFittingsToolsEquipment
2023-09-01
2024-08-31
06687354
core:MotorVehicles
2023-09-01
2024-08-31
06687354
bus:Director3
2023-09-01
2024-08-31
06687354
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-08-31
06687354
core:PlantMachinery
2023-08-31
06687354
core:FurnitureFittingsToolsEquipment
2023-08-31
06687354
core:MotorVehicles
2023-08-31
06687354
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-08-31
06687354
core:PlantMachinery
2024-08-31
06687354
core:FurnitureFittingsToolsEquipment
2024-08-31
06687354
core:MotorVehicles
2024-08-31
06687354
core:WithinOneYear
2024-08-31
06687354
core:WithinOneYear
2023-08-31
06687354
core:ShareCapital
2024-08-31
06687354
core:ShareCapital
2023-08-31
06687354
core:RetainedEarningsAccumulatedLosses
2024-08-31
06687354
core:RetainedEarningsAccumulatedLosses
2023-08-31
06687354
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-08-31
06687354
core:PlantMachinery
2023-08-31
06687354
core:FurnitureFittingsToolsEquipment
2023-08-31
06687354
core:MotorVehicles
2023-08-31
06687354
bus:SmallEntities
2023-09-01
2024-08-31
06687354
bus:AuditExemptWithAccountantsReport
2023-09-01
2024-08-31
06687354
bus:SmallCompaniesRegimeForAccounts
2023-09-01
2024-08-31
06687354
bus:PrivateLimitedCompanyLtd
2023-09-01
2024-08-31
06687354
bus:FullAccounts
2023-09-01
2024-08-31
Company registration number:
06687354
F. Younghusband & Sons Limited
Unaudited filleted financial statements
For the year ended
31 August 2024
F. Younghusband & Sons Limited
Contents
Statement of financial position
Notes to the financial statements
F. Younghusband & Sons Limited
Statement of financial position
31 August 2024
|
|
|
2024 |
|
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2023 |
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|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
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|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
4 |
193,075 |
|
|
|
170,842 |
|
|
Investment property |
|
|
- |
|
|
|
- |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
193,075 |
|
|
|
170,842 |
|
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|
|
|
|
|
|
|
Current assets |
|
|
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|
|
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|
|
|
Stocks |
|
|
10,800 |
|
|
|
10,800 |
|
|
Debtors |
|
5 |
83,969 |
|
|
|
106,301 |
|
|
Cash at bank and in hand |
|
|
258,367 |
|
|
|
399,916 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
353,136 |
|
|
|
517,017 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
6 |
(
34,166) |
|
|
|
(
69,959) |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
Net current assets |
|
|
|
|
318,970 |
|
|
|
447,058 |
|
|
|
|
|
________ |
|
|
|
________ |
Total assets less current liabilities |
|
|
|
|
512,045 |
|
|
|
617,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
36,684) |
|
|
|
(
32,460) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
________ |
|
|
|
________ |
Net assets |
|
|
|
|
475,361 |
|
|
|
585,440 |
|
|
|
|
|
________ |
|
|
|
________ |
|
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|
Capital and reserves |
|
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|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
475,261 |
|
|
|
585,340 |
|
|
|
|
|
________ |
|
|
|
________ |
Shareholders funds |
|
|
|
|
475,361 |
|
|
|
585,440 |
|
|
|
|
|
________ |
|
|
|
________ |
|
|
|
|
|
|
|
|
|
|
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|
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|
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act 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 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
01 April 2025
, and are signed on behalf of the board by:
A Younghusband-Mawson
Director
Company registration number:
06687354
F. Younghusband & Sons Limited
Notes to the financial statements
Year ended 31 August 2024
1.
Accounting policies
Basis of preparation
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied with the same financial statements.
The financial statements have been prepared under the historical cost convention and in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS 102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Changes in accounting policies
Deferred taxation is now being provided where previously none was required under FRS 105.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible fixed assets are included at cost less depreciation.
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:
|
|
|
|
|
|
Plant and machinery |
- |
20 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
15 % |
reducing balance |
|
Motor vehicles |
- |
25 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Stocks
Stocks are measured at the lower of cost and net realisable value.
Provisions
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Defined contribution plans
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the statement of comprehensive income when due.
2.
Operating loss/profit
Operating loss/profit is stated after charging/(crediting):
|
|
|
|
2024 |
2023 |
|
|
|
|
£ |
£ |
|
Depreciation of tangible assets |
|
|
17,743 |
9,735 |
|
(Gain)/loss on disposal of tangible assets |
|
|
(
5,042) |
- |
|
|
|
|
________ |
________ |
|
|
|
|
|
|
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
13
(2023:
10
).
4.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 September 2023 |
140,403 |
3,369 |
4,649 |
115,722 |
264,143 |
|
|
|
Additions |
- |
650 |
1,497 |
43,829 |
45,976 |
|
|
|
Disposals |
- |
- |
- |
(
10,667) |
(
10,667) |
|
|
|
|
________ |
________ |
________ |
________ |
________ |
|
|
|
At 31 August 2024 |
140,403 |
4,019 |
6,146 |
148,884 |
299,452 |
|
|
|
|
________ |
________ |
________ |
________ |
________ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 September 2023 |
- |
1,966 |
2,754 |
88,581 |
93,301 |
|
|
|
Charge for the year |
- |
445 |
508 |
16,790 |
17,743 |
|
|
|
Disposals |
- |
- |
- |
(
4,667) |
(
4,667) |
|
|
|
|
________ |
________ |
________ |
________ |
________ |
|
|
|
At 31 August 2024 |
- |
2,411 |
3,262 |
100,704 |
106,377 |
|
|
|
|
________ |
________ |
________ |
________ |
________ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 August 2024 |
140,403 |
1,608 |
2,884 |
48,180 |
193,075 |
|
|
|
|
________ |
________ |
________ |
________ |
________ |
|
|
|
At 31 August 2023 |
140,403 |
1,403 |
1,895 |
27,141 |
170,842 |
|
|
|
|
________ |
________ |
________ |
________ |
________ |
|
|
|
|
|
|
|
|
|
|
|
5.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
29,743 |
86,502 |
|
Other debtors |
|
54,226 |
19,799 |
|
|
|
________ |
________ |
|
|
|
83,969 |
106,301 |
|
|
|
________ |
________ |
|
|
|
|
|
6.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
16,119 |
12,539 |
|
Taxation and social security |
|
14,736 |
54,089 |
|
Other creditors |
|
3,311 |
3,331 |
|
|
|
________ |
________ |
|
|
|
34,166 |
69,959 |
|
|
|
________ |
________ |
|
|
|
|
|
7.
Pension commitments
The company operates defined contribution pension schemes for certain employees. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date, 31 August 2024 unpaid contributions of £123 (2023 - £179) were due to the fund. They are included in other creditors.