Company registration number 02528630 (England and Wales)
HANDRAIL DESIGN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HANDRAIL DESIGN LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HANDRAIL DESIGN LIMITED (REGISTERED NUMBER: 02528630)
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
25,960
38,727
Current assets
Stocks
18,950
32,445
Debtors
4
200,001
345,365
Cash at bank and in hand
166,884
20,175
385,835
397,985
Creditors: amounts falling due within one year
5
(228,332)
(227,410)
Net current assets
157,503
170,575
Total assets less current liabilities
183,463
209,302
Creditors: amounts falling due after more than one year
6
-
(21,141)
Provisions for liabilities
(3,244)
Net assets
180,219
188,161
Capital and reserves
Called up share capital
25,000
25,000
Profit and loss reserves
155,219
163,161
Total equity
180,219
188,161
HANDRAIL DESIGN LIMITED (REGISTERED NUMBER: 02528630)
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 14 May 2025 and are signed on its behalf by:
Mr H Cochrane
Director
HANDRAIL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Handrail Design Limited is a private company limited by shares incorporated in England and Wales. The registered office is Sail & Colour Loft, Historic Dockyard, Chatham, Kent, ME4 4TE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the design and installation of handrails, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
Turnover for the sale of goods is recognised when all of the following conditions are met:
- The company has transferred the significant risks and rewards of ownership to the buyer;
- the amount of turnover can be recognised reliably and;
- It is probable that the company will receive the consideration due under the transaction.
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measured reliably
- It is probable that the company will receive the consideration due under the contract
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably
HANDRAIL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
in accordance with the property
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
HANDRAIL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
12
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
17,152
4,859
249,610
49,040
320,661
Additions
4,080
4,080
Disposals
(29,149)
(29,149)
At 31 December 2024
17,152
4,859
224,541
49,040
295,592
Depreciation and impairment
At 1 January 2024
17,152
3,193
227,184
34,405
281,934
Depreciation charged in the year
416
3,679
3,659
7,754
Eliminated in respect of disposals
(20,056)
(20,056)
At 31 December 2024
17,152
3,609
210,807
38,064
269,632
Carrying amount
At 31 December 2024
1,250
13,734
10,976
25,960
At 31 December 2023
1,666
22,426
14,635
38,727
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
178,052
230,869
Other debtors
21,949
114,496
200,001
345,365
HANDRAIL DESIGN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
21,141
15,856
Trade creditors
126,801
160,931
Taxation and social security
51,691
18,091
Other creditors
28,699
32,532
228,332
227,410
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,141
7
Financial commitments, guarantees and contingent liabilities
Bank loans and overdrafts (under and over 1 year) are secured by fixed and floating charges over all company's assets both present and future.
8
Related party transactions
At the year end date the company was owed £384 (2023: £200) by an associated company. This amount is included in other debtors.
9
Directors' transactions
As at the balance sheet date, there was an overdrawn directors' loan account balance of £9,835 (2023 - Credit £1,287), this balance is included within other debtors. This balance was repaid within 9 months of the year end.