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REGISTERED NUMBER: 03821575 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

HIPS ARCHITECTURAL IRONMONGERY LIMITED

HIPS ARCHITECTURAL IRONMONGERY LIMITED (REGISTERED NUMBER: 03821575)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


HIPS ARCHITECTURAL IRONMONGERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: A W Cole
Mrs L C Cole





REGISTERED OFFICE: Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH





REGISTERED NUMBER: 03821575 (England and Wales)





ACCOUNTANTS: Poole Waterfield Limited
Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH

HIPS ARCHITECTURAL IRONMONGERY LIMITED (REGISTERED NUMBER: 03821575)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 770 701

CURRENT ASSETS
Stocks 44,100 34,800
Debtors 5 140,005 184,479
Cash at bank and in hand 213,547 213,757
397,652 433,036
CREDITORS
Amounts falling due within one year 6 160,296 195,309
NET CURRENT ASSETS 237,356 237,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

238,126

238,428

CREDITORS
Amounts falling due after more than one
year

7

29,749

35,054
NET ASSETS 208,377 203,374

CAPITAL AND RESERVES
Called up share capital 9 25 25
Capital redemption reserve 75 75
Retained earnings 208,277 203,274
208,377 203,374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

HIPS ARCHITECTURAL IRONMONGERY LIMITED (REGISTERED NUMBER: 03821575)

BALANCE SHEET - continued
31 AUGUST 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2025 and were signed on its behalf by:





A W Cole - Director


HIPS ARCHITECTURAL IRONMONGERY LIMITED (REGISTERED NUMBER: 03821575)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

HIPS Architectural Ironmongery 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

HIPS ARCHITECTURAL IRONMONGERY LIMITED (REGISTERED NUMBER: 03821575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023 8,995 1,403 10,398
Additions - 559 559
At 31 August 2024 8,995 1,962 10,957
DEPRECIATION
At 1 September 2023 8,995 702 9,697
Charge for year - 490 490
At 31 August 2024 8,995 1,192 10,187
NET BOOK VALUE
At 31 August 2024 - 770 770
At 31 August 2023 - 701 701

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 137,905 181,325
Section 455 tax recoverable - 1,216
Prepayments 2,100 1,938
140,005 184,479

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 5,260 5,175
Trade creditors 104,902 125,591
Tax 21,826 21,705
Social security and other taxes 1,493 3,740
VAT 14,282 14,351
Other creditors 60 60
Directors' current accounts 7,334 18,913
Accrued expenses 5,139 5,774
160,296 195,309

HIPS ARCHITECTURAL IRONMONGERY LIMITED (REGISTERED NUMBER: 03821575)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 5,260 5,320
Bank loans - 2-5 years 24,489 29,734
29,749 35,054

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 21,512 13,249
Between one and five years 25,607 25,253
47,119 38,502

Included within the above are commitments relating to a property and vehicles.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £ £
25 Ordinary A £1 25 25
10 Ordinary B £1 10 10
10 Ordinary C £1 10 10
10 Ordinary D £1 10 10
10 Ordinary E £1 10 10
10 Ordinary F £1 10 10
10 Ordinary G £1 10 10
85 85


Share classes B, C, D, E, F and G above are non - voting and do not carry the right to capital. They are redeemable at par at any time and consequently they are shown as creditors in the company's balance sheet.