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REGISTERED NUMBER: 04632760 (England and Wales)













Financial Statements

for the Year Ended 30 September 2024

for

Hickson Quality Foods Limited

Hickson Quality Foods Limited (Registered number: 04632760)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Hickson Quality Foods Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mr R J Hickson
Mr R L Hickson



SECRETARY: Mr R J Hickson



REGISTERED OFFICE: 21 High Street
Bassingham
LINCOLN
Lincolnshire
LN5 9JZ



REGISTERED NUMBER: 04632760 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: NatWest Bank Plc
225 High Street
LINCOLN
Lincolnshire
LN2 1AZ

Hickson Quality Foods Limited (Registered number: 04632760)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 169,227 181,451

CURRENT ASSETS
Stocks 58,117 57,406
Debtors 5 701 35,155
Cash at bank and in hand 169,711 108,089
228,529 200,650
CREDITORS
Amounts falling due within one year 6 221,850 134,650
NET CURRENT ASSETS 6,679 66,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,906

247,451

CREDITORS
Amounts falling due after more than
one year

7

-

(39,200

)

PROVISIONS FOR LIABILITIES (24,481 ) (26,939 )
NET ASSETS 151,425 181,312

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 151,422 181,309
SHAREHOLDERS' FUNDS 151,425 181,312

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Hickson Quality Foods Limited (Registered number: 04632760)

Statement of Financial Position - continued
30 September 2024


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 25 April 2025 and were signed on its behalf by:





Mr R L Hickson - Director


Hickson Quality Foods Limited (Registered number: 04632760)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Hickson Quality Foods 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 represents net invoiced sales of goods, excluding value added tax.

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 leasehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 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.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

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 statement of financial position date.

Hickson Quality Foods Limited (Registered number: 04632760)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 13 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
leasehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 October 2023 119,378 191,721 65,513 376,612
Additions - 3,950 3,230 7,180
At 30 September 2024 119,378 195,671 68,743 383,792
DEPRECIATION
At 1 October 2023 45,685 96,417 53,059 195,161
Charge for year 2,388 14,136 2,880 19,404
At 30 September 2024 48,073 110,553 55,939 214,565
NET BOOK VALUE
At 30 September 2024 71,305 85,118 12,804 169,227
At 30 September 2023 73,693 95,304 12,454 181,451

Hickson Quality Foods Limited (Registered number: 04632760)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' loan accounts - 34,621
Prepayments and accrued income 701 534
701 35,155

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Blakemore loan 20,448 9,800
Trade creditors 42,111 48,324
Mr D Hickson loan 20,240 25,160
Tax 41,248 27,856
Social security and other taxes 27,259 3,305
VAT 7,418 10,535
Other creditors 45,897 5,418
Directors' loan accounts 12,053 -
Accrued expenses 5,176 4,252
221,850 134,650

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other loans - 1-2 years - 9,800
Other loans - 2-5 years - 29,400
- 39,200

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Mr R J Hickson
Balance outstanding at start of year 6,972 15,484
Amounts advanced - 68,155
Amounts repaid (6,972 ) (76,667 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 6,972

Hickson Quality Foods Limited (Registered number: 04632760)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr R L Hickson
Balance outstanding at start of year 27,649 26,522
Amounts advanced - 74,794
Amounts repaid (27,649 ) (73,667 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 27,649

The maximum overdrawn amounts on the above loans were as follows:-

Mr R J Hickson £35,100
Mr R L Hickson £49,148

These are unsecured loans, interest has been charged at the official rate of interest.

9. RELATED PARTY DISCLOSURES

During the period ended 30 September 2023 dividends of £130,000 (2022 - £110,000) were paid to the directors of the company.

During the period Mr D Hickson, Mr R J Hickson and Mr R L Hickson charged the company £26,000 (2022 - £26,500) for the rental of the shop premises. This represents the normal commercial rent.

Mr D Hickson was previously a Director and Shareholder of the company. Included in creditors is a balance of £25,160 (2022 - £29,376). This is an unsecured interest free loan.