REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2025 |
for |
ARTHUR HOUGH & SONS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28 February 2025 |
for |
ARTHUR HOUGH & SONS LIMITED |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ARTHUR HOUGH & SONS LIMITED |
Company Information |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Black Country House |
Rounds Green Road |
Oldbury |
West Midlands |
B69 2DG |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Balance Sheet |
28 FEBRUARY 2025 |
2025 | 2024 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Balance Sheet - continued |
28 FEBRUARY 2025 |
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 were approved by the Board of Directors and authorised for issue on |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
1. | STATUTORY INFORMATION |
Arthur Hough & Sons Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. |
The estimated useful lives range as follows: |
Land and buildings | - 50 years |
Plant and machinery | - 10 years |
Motor vehicles | - 3 years |
Furniture, fittings and equipment | - Between 3 and 10 years |
Other fixed assets | - 5 years |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. |
Stocks and work in progress |
Stock 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. |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial assets |
Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments. |
Foreign currency translation |
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pensions |
Defined contribution pension plan |
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. |
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds. |
Valuation of investments |
Investments in subsidiaries are measured at the lower of cost and net realisable value. |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
2. | ACCOUNTING POLICIES - continued |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. |
Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Furniture, |
fittings |
Land and | Plant and | and |
buildings | machinery | equipment |
£ | £ | £ |
COST |
At 1 March 2024 |
Additions |
Disposals | ( |
) | ( |
) |
At 28 February 2025 |
DEPRECIATION |
At 1 March 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
4. | TANGIBLE FIXED ASSETS - continued |
Other |
Motor | fixed |
vehicles | assets | Totals |
£ | £ | £ |
COST |
At 1 March 2024 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 28 February 2025 |
DEPRECIATION |
At 1 March 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
Included in freehold property is freehold land at a cost of £300,000 (2024 - £300,000) which is not depreciated. |
Included in motor vehicles are assets under hire purchases contracts with a net book value of £74,500 (2024: £142,462). |
5. | FIXED ASSET INVESTMENTS |
Investment |
in |
subsidiary |
£ |
COST |
At 1 March 2024 |
and 28 February 2025 |
NET BOOK VALUE |
At 28 February 2025 |
At 29 February 2024 |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
Included within other creditors is £113 (2024:£113) due to P&M Fixing and Fasteners Limited, a wholly owned subsidiary. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2025 | 2024 |
£ | £ |
Hire purchase contracts |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2025 | 2024 |
£ | £ |
Hire purchase contracts | 69,389 | 140,354 |
10. | PROVISIONS FOR LIABILITIES |
2025 | 2024 |
£ | £ |
Deferred tax | 81,492 | 78,725 |
ARTHUR HOUGH & SONS LIMITED (REGISTERED NUMBER: 00927416) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2025 |
10. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 March 2024 |
Provided during year |
Balance at 28 February 2025 |
11. | CALLED UP SHARE CAPITAL |
2024 | 2023 |
Shares classified as equity | £ | £ |
Allocated, called up and fully paid |
20,000 (2024 - 20,000) "A" Ordinary shares of £1.00 | 20,000 | 20,000 |
20,000 (2024 - 20,000) "B" Ordinary shares of £1.00 | 20,000 | 20,000 |
40,000 | 40,000 |
2024 | 2023 |
Shares classified as debt | £ | £ |
Allocated, called up and fully paid |
100,000 (2024 - 100,000) "A" Preference shares of £1.00 | 100,000 | 100,000 |
100,000 (2024 - 100,000) "B" Preference shares of £1.00 | 100,000 | 100,000 |
200,000 | 200,000 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
At the year end the company was owed £27,268 (2024: £16,332) from the directors, included in other debtors. The maximum outstanding in the year for any director was £27,268. |
Interest was charged on these loans at HM Revenue & Customs official rate of interest. |
13. | PENSION COMMITMENTS |
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. £4,121 (2024: £2,646) was payable to the fund at the balance sheet date. |