13 01/09/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false false false false 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 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 193,075 170,842
Investment property - -
________ ________
193,075 170,842
Current assets
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
________ ________
Capital and reserves
Called up share capital 100 100
Profit and loss account 475,261 585,340
________ ________
Shareholders funds 475,361 585,440
________ ________
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.