12 13 Huttons Limited 02538335 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is The principal activities of the company throughout the year were those of motor dealers. Digita Accounts Production Advanced 6.30.9574.0 true 02538335 2024-01-01 2024-12-31 02538335 2024-12-31 02538335 bus:OrdinaryShareClass1 2024-12-31 02538335 bus:OrdinaryShareClass2 2024-12-31 02538335 bus:OrdinaryShareClass3 2024-12-31 02538335 bus:OrdinaryShareClass4 2024-12-31 02538335 core:CurrentFinancialInstruments 2024-12-31 02538335 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 02538335 core:FurnitureFittings 2024-12-31 02538335 core:MotorVehicles 2024-12-31 02538335 core:OfficeEquipment 2024-12-31 02538335 core:PlantMachinery 2024-12-31 02538335 1 2024-12-31 02538335 bus:SmallEntities 2024-01-01 2024-12-31 02538335 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 02538335 bus:FilletedAccounts 2024-01-01 2024-12-31 02538335 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02538335 bus:RegisteredOffice 2024-01-01 2024-12-31 02538335 bus:Director1 2024-01-01 2024-12-31 02538335 bus:Director2 2024-01-01 2024-12-31 02538335 bus:Director3 2024-01-01 2024-12-31 02538335 bus:Director4 2024-01-01 2024-12-31 02538335 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 02538335 bus:OrdinaryShareClass2 2024-01-01 2024-12-31 02538335 bus:OrdinaryShareClass3 2024-01-01 2024-12-31 02538335 bus:OrdinaryShareClass4 2024-01-01 2024-12-31 02538335 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02538335 bus:Agent1 2024-01-01 2024-12-31 02538335 core:ComputerEquipment 2024-01-01 2024-12-31 02538335 core:FurnitureFittings 2024-01-01 2024-12-31 02538335 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 02538335 core:MotorVehicles 2024-01-01 2024-12-31 02538335 core:OfficeEquipment 2024-01-01 2024-12-31 02538335 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 02538335 core:PlantMachinery 2024-01-01 2024-12-31 02538335 countries:EnglandWales 2024-01-01 2024-12-31 02538335 1 2024-01-01 2024-12-31 02538335 2023-12-31 02538335 core:FurnitureFittings 2023-12-31 02538335 core:MotorVehicles 2023-12-31 02538335 core:OfficeEquipment 2023-12-31 02538335 core:PlantMachinery 2023-12-31 02538335 1 2023-12-31 02538335 2023-01-01 2023-12-31 02538335 2023-12-31 02538335 bus:OrdinaryShareClass1 2023-12-31 02538335 bus:OrdinaryShareClass2 2023-12-31 02538335 bus:OrdinaryShareClass3 2023-12-31 02538335 bus:OrdinaryShareClass4 2023-12-31 02538335 core:CurrentFinancialInstruments 2023-12-31 02538335 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02538335 core:FurnitureFittings 2023-12-31 02538335 core:MotorVehicles 2023-12-31 02538335 core:OfficeEquipment 2023-12-31 02538335 core:PlantMachinery 2023-12-31 02538335 1 2023-12-31 02538335 1 2023-01-01 2023-12-31 02538335 1 2022-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 02538335

Huttons Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Huttons Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 9

 

Huttons Limited

Company Information

Directors

Mr D J M Hoggarth

Mrs A Hoggarth

Miss D A C Hoggarth

Mr P E Trimmings

Registered office

Bridgwater Road
Bleadon
Weston-Super-Mare
North Somerset
BS24 0AW

Accountants

Westcotts
Chartered Accountants80 Oxford Street
Burnham-On-Sea
Somerset
TA8 1EF

 

Huttons Limited

(Registration number: 02538335)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

42,665

41,486

Current assets

 

Stocks

875,112

1,115,279

Debtors

5

58,653

48,294

Cash at bank and in hand

 

225,116

171,928

 

1,158,881

1,335,501

Creditors: Amounts falling due within one year

6

(460,312)

(649,232)

Net current assets

 

698,569

686,269

Total assets less current liabilities

 

741,234

727,755

Provisions for liabilities

(10,353)

(9,990)

Net assets

 

730,881

717,765

Capital and reserves

 

Called up share capital

7

93,000

93,000

Profit and loss account

637,881

624,765

Shareholders' funds

 

730,881

717,765

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 1 May 2025 and signed on its behalf by:
 


Mr D J M Hoggarth
Director

 

Huttons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bridgwater Road
Bleadon
Weston-Super-Mare
North Somerset
BS24 0AW

Principal activity

The principal activities of the company throughout the year were those of motor dealers.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Huttons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & equipment

- 8% straight line

Office furniture & equipment

- 18% reducing balance

Small tools & equipment

- 18% straight line

Computers & accessories

- 18% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

 

Huttons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Demonstrator vehicles are included at cost.

Consignment stocks are held by the company on terms that give the dealer the right to sell stock in the normal course of business, or to return it unsold to the manufacturer. Where it is concluded that the stock provided by a particular manufacturer is in substance, an asset of the dealer, it is recognised as such on the company balance sheet together with a corresponding liability to the manufacturers disclosed in creditors.

The nature of the arrangement and the principal terms in respect of each relevant dealership are as follows:

Risks pass to the dealer upon delivery; the relationship is that of vendor and purchaser and not as an agent; on termination, loss, damage and deterioration costs must be met by the dealer.

The dealer operates at his own risk and not as an agent; risks of ownership including insurance and maintenance are met by the dealer; on termination, the manufacturer is not obliged to repurchase the stock.

Parts and accessories is valued at the lower of cost and net realisable value.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

 

Huttons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2023 - 13).

 

Huttons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible assets

Office furniture & equipment
£

Plant & equipment
£

Small tools & equipment
£

Computers & accessories
£

Total
£

Cost or valuation

At 1 January 2024

58,129

98,182

24,977

39,555

220,843

Additions

96

4,995

2,194

524

7,809

At 31 December 2024

58,225

103,177

27,171

40,079

228,652

Depreciation

At 1 January 2024

55,782

66,552

22,741

34,282

179,357

Charge for the year

2,443

2,606

599

982

6,630

At 31 December 2024

58,225

69,158

23,340

35,264

185,987

Carrying amount

At 31 December 2024

-

34,019

3,831

4,815

42,665

At 31 December 2023

2,347

31,630

2,236

5,273

41,486

5

Debtors

2024
£

2023
£

Trade debtors

28,639

20,427

Other debtors

1,950

3,350

Prepayments

28,064

24,517

58,653

48,294

 

Huttons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

159,713

330,969

Taxation and social security

52,974

47,253

Accruals and deferred income

11,286

9,269

Director's loan account

236,339

261,741

460,312

649,232

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

90,000

90,000

90,000

90,000

Ordinary B of £1 each

1,000

1,000

1,000

1,000

Ordinary C of £1 each

1,000

1,000

1,000

1,000

Ordinary D of £1 each

1,000

1,000

1,000

1,000

93,000

93,000

93,000

93,000

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Huttons Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Directors' advances, credits and guarantees

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

All Directors

(261,380)

37,260

(12,219)

(236,339)

         
       

 

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

All Directors

(290,244)

36,404

(7,540)

(261,380)