24 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2024 - FRS102_2024 105,161 39,437 144,598 84,040 13,222 97,262 47,336 21,121 xbrli:pure xbrli:shares iso4217:GBP 04570460 2023-11-01 2024-10-31 04570460 2024-10-31 04570460 2023-10-31 04570460 2022-11-01 2023-10-31 04570460 2023-10-31 04570460 2022-10-31 04570460 core:FurnitureFittings 2023-11-01 2024-10-31 04570460 bus:Director1 2023-11-01 2024-10-31 04570460 core:FurnitureFittings 2023-10-31 04570460 core:FurnitureFittings 2024-10-31 04570460 core:WithinOneYear 2024-10-31 04570460 core:WithinOneYear 2023-10-31 04570460 core:ShareCapital 2024-10-31 04570460 core:ShareCapital 2023-10-31 04570460 core:SharePremium 2024-10-31 04570460 core:SharePremium 2023-10-31 04570460 core:RetainedEarningsAccumulatedLosses 2024-10-31 04570460 core:RetainedEarningsAccumulatedLosses 2023-10-31 04570460 core:FurnitureFittings 2023-10-31 04570460 bus:SmallEntities 2023-11-01 2024-10-31 04570460 bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 04570460 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 04570460 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04570460 bus:FullAccounts 2023-11-01 2024-10-31 04570460 core:KeyManagementPersonnel 2023-11-01 2024-10-31 04570460 core:KeyManagementPersonnel 2022-11-01 2023-10-31 04570460 core:ImmediateParent 2023-11-01 2024-10-31 04570460 core:ImmediateParent 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 04570460
Hurley and Davies Limited
Filleted Unaudited Financial Statements
31 October 2024
Hurley and Davies Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
47,336
21,121
Current assets
Stocks
11,340
19,700
Debtors
6
363,069
242,364
Cash at bank and in hand
513,974
343,250
---------
---------
888,383
605,314
Creditors: amounts falling due within one year
7
( 416,157)
( 339,370)
---------
---------
Net current assets
472,226
265,944
---------
---------
Total assets less current liabilities
519,562
287,065
Provisions
( 11,834)
( 280)
---------
---------
Net assets
507,728
286,785
---------
---------
Hurley and Davies Limited
Statement of Financial Position (continued)
31 October 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
103
103
Share premium account
99,980
99,980
Profit and loss account
407,645
186,702
---------
---------
Shareholders funds
507,728
286,785
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 February 2025 , and are signed on behalf of the board by:
Mr L Hurley
Director
Company registration number: 04570460
Hurley and Davies Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 206 High Street, Blackwood, Gwent, NP121AJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 24 (2023: 19 ).
5. Tangible assets
Fixtures, furniture & equipment
£
Cost
At 1 November 2023
105,161
Additions
39,437
---------
At 31 October 2024
144,598
---------
Depreciation
At 1 November 2023
84,040
Charge for the year
13,222
---------
At 31 October 2024
97,262
---------
Carrying amount
At 31 October 2024
47,336
---------
At 31 October 2023
21,121
---------
6. Debtors
2024
2023
£
£
Trade debtors
313,978
213,470
Amounts owed by group undertakings
12,263
4,337
Other debtors
36,828
24,557
---------
---------
363,069
242,364
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
67,137
19,892
Corporation tax
132,886
118,765
Social security and other taxes
156,722
121,805
Other creditors
1,087
1,087
Company credit card
760
1,527
Other creditors
57,565
76,294
---------
---------
416,157
339,370
---------
---------
Included in other creditors are amounts owed on Directors current accounts of £204 (2023:£204).
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2024
2023
£
£
Dividends paid to Directors
36,862
74,317
Dividends paid to Parent Undertaking
170,646
399,271
---------
---------