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REGISTERED NUMBER: 01514513 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

H. F. VEALE & SONS LIMITED

H. F. VEALE & SONS LIMITED (REGISTERED NUMBER: 01514513)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


H. F. VEALE & SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M W Veale
R P Veale
Mrs J A Veale





REGISTERED OFFICE: Old Bank
The Triangle
Paulton
Bristol
Avon
BS39 7LE





REGISTERED NUMBER: 01514513 (England and Wales)





ACCOUNTANTS: Peregrine
Chartered Accountants
Old Bank
The Triangle
Paulton
Bristol
BS39 7LE

H. F. VEALE & SONS LIMITED (REGISTERED NUMBER: 01514513)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 23,428 15,340

CURRENT ASSETS
Stocks 46,085 46,084
Debtors 5 59,361 61,093
Cash at bank and in hand 70,397 108,978
175,843 216,155
CREDITORS
Amounts falling due within one year 6 121,742 138,201
NET CURRENT ASSETS 54,101 77,954
TOTAL ASSETS LESS CURRENT LIABILITIES 77,529 93,294

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 77,429 93,194
SHAREHOLDERS' FUNDS 77,529 93,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





M W Veale - Director


H. F. VEALE & SONS LIMITED (REGISTERED NUMBER: 01514513)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

H. F. Veale & Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor Vehicles - 25% on reducing balance
Equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

H. F. VEALE & SONS LIMITED (REGISTERED NUMBER: 01514513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2024 53,153 93,685 37,390
Additions - 2,585 -
At 31 December 2024 53,153 96,270 37,390
DEPRECIATION
At 1 January 2024 51,876 89,446 35,221
Charge for year - 562 346
At 31 December 2024 51,876 90,008 35,567
NET BOOK VALUE
At 31 December 2024 1,277 6,262 1,823
At 31 December 2023 1,277 4,239 2,169

Motor
Vehicles Equipment Totals
£    £    £   
COST
At 1 January 2024 39,974 - 224,202
Additions 1,500 6,823 10,908
At 31 December 2024 41,474 6,823 235,110
DEPRECIATION
At 1 January 2024 32,319 - 208,862
Charge for year 1,912 - 2,820
At 31 December 2024 34,231 - 211,682
NET BOOK VALUE
At 31 December 2024 7,243 6,823 23,428
At 31 December 2023 7,655 - 15,340

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 43,966 34,746
Other debtors 10,054 20,579
Directors' current accounts 4,410 4,410
Prepayments and accrued income 931 1,358
59,361 61,093

H. F. VEALE & SONS LIMITED (REGISTERED NUMBER: 01514513)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 55,504 65,057
Tax 16,695 24,294
Social security and other taxes 2,003 1,865
VAT 13,016 13,494
Other creditors 10,760 15,795
Directors' current accounts 11,771 12,771
Accruals and deferred income 11,993 4,925
121,742 138,201

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end there was an overdrawn directors loan account of £4,410. This was repaid by a dividend payment within 9 months of the year end.