Registered number
03573661
H & S Contractors Limited
Accounts for the year ended
31 August 2024
H & S Contractors Limited
Registered number: 03573661
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,869,795 2,574,016
Investments 4 1,670,490 1,263,134
4,540,285 3,837,150
Current assets
Stocks 308,661 308,661
Debtors 5 39,853 15,741
Cash at bank and in hand 85,871 187,625
434,385 512,027
Creditors: amounts falling due within one year 6 (112,356) (71,691)
Net current assets 322,029 440,336
Total assets less current liabilities 4,862,314 4,277,486
Provisions for liabilities (262,170) (204,265)
Net assets 4,600,144 4,073,221
Capital and reserves
Called up share capital 250 250
Revaluation reserve 7 1,231,069 929,819
Profit and loss account 3,368,825 3,143,152
Shareholder's funds 4,600,144 4,073,221
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Pallet
Director
Approved by the board on 23 April 2025
H & S Contractors Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Revenue is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Revenue arising from the UK fishery is recognised at the point of sale.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 4% straight line
Plant and machinery 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 September 2023 2,635,000 174,477 2,809,477
Additions - 10,000 10,000
Surplus on revaluation 320,000 - 320,000
Disposals - - -
At 31 August 2024 2,955,000 184,477 3,139,477
Depreciation
At 1 September 2023 121,140 114,321 235,461
Charge for the year 20,190 14,031 34,221
Surplus on revaluation - - -
On disposals - - -
At 31 August 2024 141,330 128,352 269,682
Net book value
At 31 August 2024 2,813,670 56,125 2,869,795
At 31 August 2023 2,513,860 60,156 2,574,016
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,516,448 1,516,448
Cumulative depreciation based on historical cost 141,330 121,140
1,375,118 1,395,308
Freehold property was professionally revalued on a fair value basis on 17th December 2024 by Lambert & Foster and on 12th January 2018 by Glenny LLP.
4 Investments
Investments in
subsidiary Investment
undertakings property Total
£ £ £
Cost
At 1 September 2023 653,500 609,634 1,263,134
Additions - 239,962 239,962
Revaluation - 167,394 167,394
Disposals - - -
At 31 August 2024 653,500 1,016,990 1,670,490
Historical cost
At 1 September 2023 653,500 568,858
At 31 August 2024 653,500 808,821
5 Debtors 2024 2023
£ £
Trade debtors 25,000 -
Other debtors 14,853 15,741
39,853 15,741
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 33,024 51,442
Taxation and social security costs 79,332 20,249
112,356 71,691
7 Revaluation reserve 2024 2023
£ £
At 1 September 2023 929,819 929,819
Gain on revaluation of land and buildings 320,000 -
Deferred taxation arising on the revaluation of land and buildings (18,750) -
At 31 August 2024 1,231,069 929,819
8 Related party transactions
2024 2023
£ £
H & S Contractors (Kent) Limited (subsidiary company)
Rent receivable 100,000 100,000
Dividend received 314,715 544,652
Amount included in trade debtors 25,000 -
9 Controlling party
The ultimate controlling party of the company is N Pallet.
10 Other information
H & S Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
Kingsnorth Industrial Estate
Stoke Road
Hoo
Kent
ME3 9ND
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