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Registered number: 00490805










HOWARD BROS. (ENGRAVERS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
HOWARD BROS. (ENGRAVERS) LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
HOWARD BROS. (ENGRAVERS) LIMITED
REGISTERED NUMBER: 00490805

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
254,198
313,442

Current assets
  

Stocks
  
30,750
31,500

Debtors
 5 
119,167
128,329

Cash at bank and in hand
  
208,780
217,927

  
358,697
377,756

Creditors: amounts falling due within one year
 6 
(121,049)
(157,898)

Net current assets
  
 
 
237,648
 
 
219,858

Total assets less current liabilities
  
491,846
533,300

Creditors: amounts falling due after more than one year
 7 
(13,951)
(24,198)

Provisions for liabilities
  

Deferred tax
  
(59,000)
(74,000)

Net assets
  
418,895
435,102


Capital and reserves
  

Called up share capital 
  
3,000
3,000

Profit and loss account
  
415,895
432,102

  
418,895
435,102


Page 1

 
HOWARD BROS. (ENGRAVERS) LIMITED
REGISTERED NUMBER: 00490805
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 April 2025.



Mr. J.E. Howard
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HOWARD BROS. (ENGRAVERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Howard Bros (Engravers) Limited (the Company) is a private company, limited by shares, incorporated and domiciled in England. The address of its registered office is 89-91 Barr Street, Hockley, Birmingham, B19 3DE, which is also the address of its principal place of business.  

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

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 value added tax.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
10%
Motor vehicle
-
25%
Fixtures & fittings
-
10%

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.

Page 3

 
HOWARD BROS. (ENGRAVERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
HOWARD BROS. (ENGRAVERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Current and deferred taxation

The tax charge for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
 Deferred Tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
 


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).

Page 5

 
HOWARD BROS. (ENGRAVERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost


At 1 January 2024
1,386,292
19,349
61,678
1,467,319



At 31 December 2024

1,386,292
19,349
61,678
1,467,319



Depreciation


At 1 January 2024
1,086,064
13,995
53,818
1,153,877


Charge for the year on owned assets
55,416
1,344
2,484
59,244



At 31 December 2024

1,141,480
15,339
56,302
1,213,121



Net book value



At 31 December 2024
244,812
4,010
5,376
254,198



At 31 December 2023
300,228
5,354
7,860
313,442


5.


Debtors

2024
2023
£
£


Trade debtors
93,393
108,472

Prepayments and accrued income
25,774
19,857

119,167
128,329


Page 6

 
HOWARD BROS. (ENGRAVERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,158
9,828

Trade creditors
11,586
14,364

Corporation tax
6,425
3,213

Other taxation and social security
44,630
54,424

Other creditors
37,440
67,092

Accruals and deferred income
10,810
8,977

121,049
157,898


Secured creditors
 Bank Loans are secured under the government guarantee scheme 


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,951
24,198


Secured creditors
 Bank Loans are secured under the government guarantee scheme 

 
Page 7