Company registration number 01138100 (England and Wales)
B.G. HICKS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
B.G. HICKS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
B.G. HICKS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment properties
3
2,250,000
2,250,000
Current assets
Debtors
4
25,000
25,000
Cash at bank and in hand
3,309
3,921
28,309
28,921
Creditors: amounts falling due within one year
5
(32,027)
(25,466)
Net current (liabilities)/assets
(3,718)
3,455
Total assets less current liabilities
2,246,282
2,253,455
Creditors: amounts falling due after more than one year
6
(545,871)
(553,826)
Provisions for liabilities
(248,581)
(248,581)
Net assets
1,451,830
1,451,048
Capital and reserves
Called up share capital
7
100
100
Revaluation reserve
1,363,663
1,363,663
Profit and loss reserves
88,067
87,285
Total equity
1,451,830
1,451,048

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 22 April 2025 and are signed on its behalf by:
Mr T F Hicks
Director
Company Registration No. 01138100
B.G. HICKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 2 -
1
Accounting policies
Company information

B.G. Hicks Limited is a private company limited by shares incorporated in England and Wales. The registered office is Langland Road, Reevesland Industrial Estate, Newport, Gwent, United Kingdom, NP19 4PT.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services provided in the normal course of business, net of trade discounts, VAT and other sales-related taxes.

 

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for goods and services provided.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. .

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

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.

B.G. HICKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 3 -
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.

 

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
3
Investment property
2025
£
Fair value
At 1 February 2024 and 31 January 2025
2,250,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 January 2025 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
25,000
25,000
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
15,710
21,507
Corporation tax
183
164
Other taxation and social security
2,167
2,167
Other creditors
13,967
1,628
32,027
25,466

Included in creditors above is a bank loan of £15,710 (2024 - £21,507) secured over the investment property.

B.G. HICKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
545,871
553,826

Included in creditors above is a bank loan of £545,871 (2024: £553,826) secured over the investment property.

Amounts included above which fall due after five years are as follows:
Payable by instalments
465,855
446,676
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Related party transactions

At the year end B.G. Hicks Limited owed B & T Hicks (Transport) Limited £13,967 (2024: £1,628) which is included in creditors: amounts falling due within one year. B.G. Hicks Limited and B & T Hicks (Transport) Limited have common directors and shareholders.

 

At the year end B.G. Hicks Limited was owed by Parc Property Developments Limited £25,000 (2024 : £25,000) which is included in debtors: amounts falling due within one year. B.G. Hicks Limited and Parc Property Developments Limited have common directors and shareholders.

 

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