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Registered number: 01159848
P.T. Hannaby (Builders & Decorators) Limited
Unaudited Financial Statements
For The Year Ended 28 February 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01159848
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 20,903 27,748
20,903 27,748
CURRENT ASSETS
Stocks 5 54,131 53,340
Debtors 6 419 12,151
Cash at bank and in hand 1,500 33,653
56,050 99,144
Creditors: Amounts Falling Due Within One Year 7 (20,439 ) (55,302 )
NET CURRENT ASSETS (LIABILITIES) 35,611 43,842
TOTAL ASSETS LESS CURRENT LIABILITIES 56,514 71,590
Creditors: Amounts Falling Due After More Than One Year 8 (2,642 ) (6,119 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,972 ) (5,272 )
NET ASSETS 49,900 60,199
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 49,800 60,099
SHAREHOLDERS' FUNDS 49,900 60,199
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D P Hannaby
Director
22 April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
P.T. Hannaby (Builders & Decorators) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01159848 . The registered office is 2 The Old Estate Yard High Street, East Hendred, Wantage, Oxfordshire, OX12 8JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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 £.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33.33% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2024: 5)
5 5
4. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 March 2024 46,751
As at 28 February 2025 46,751
Depreciation
As at 1 March 2024 19,003
Provided during the period 6,845
As at 28 February 2025 25,848
Net Book Value
As at 28 February 2025 20,903
As at 1 March 2024 27,748
5. Stocks
2025 2024
£ £
Stock 6,339 13,969
Work in progress 47,792 39,371
54,131 53,340
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6. Debtors
2025 2024
£ £
Due within one year
Other debtors 419 12,151
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 3,477 2,984
Trade creditors 3,967 41,832
Other creditors 3,323 2,283
Taxation and social security 9,672 8,203
20,439 55,302
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 2,642 6,119
9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,477 2,984
Later than one year and not later than five years 2,642 6,119
6,119 9,103
6,119 9,103
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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