Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30Motor repairs2023-10-01false77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12071905 2023-10-01 2024-09-30 12071905 2022-10-01 2023-09-30 12071905 2024-09-30 12071905 2023-09-30 12071905 c:Director1 2023-10-01 2024-09-30 12071905 d:PlantMachinery 2023-10-01 2024-09-30 12071905 d:PlantMachinery 2024-09-30 12071905 d:PlantMachinery 2023-09-30 12071905 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12071905 d:MotorVehicles 2023-10-01 2024-09-30 12071905 d:MotorVehicles 2024-09-30 12071905 d:MotorVehicles 2023-09-30 12071905 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12071905 d:FurnitureFittings 2023-10-01 2024-09-30 12071905 d:FurnitureFittings 2024-09-30 12071905 d:FurnitureFittings 2023-09-30 12071905 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12071905 d:OfficeEquipment 2023-10-01 2024-09-30 12071905 d:OfficeEquipment 2024-09-30 12071905 d:OfficeEquipment 2023-09-30 12071905 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12071905 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 12071905 d:CurrentFinancialInstruments 2024-09-30 12071905 d:CurrentFinancialInstruments 2023-09-30 12071905 d:Non-currentFinancialInstruments 2024-09-30 12071905 d:Non-currentFinancialInstruments 2023-09-30 12071905 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 12071905 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 12071905 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 12071905 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 12071905 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 12071905 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 12071905 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 12071905 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 12071905 d:ShareCapital 2024-09-30 12071905 d:ShareCapital 2023-09-30 12071905 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 12071905 d:RetainedEarningsAccumulatedLosses 2024-09-30 12071905 d:RetainedEarningsAccumulatedLosses 2023-09-30 12071905 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 12071905 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 12071905 d:RetirementBenefitObligationsDeferredTax 2024-09-30 12071905 d:RetirementBenefitObligationsDeferredTax 2023-09-30 12071905 c:OrdinaryShareClass1 2023-10-01 2024-09-30 12071905 c:OrdinaryShareClass1 2024-09-30 12071905 c:OrdinaryShareClass1 2023-09-30 12071905 c:OrdinaryShareClass2 2023-10-01 2024-09-30 12071905 c:OrdinaryShareClass2 2024-09-30 12071905 c:OrdinaryShareClass2 2023-09-30 12071905 c:FRS102 2023-10-01 2024-09-30 12071905 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 12071905 c:FullAccounts 2023-10-01 2024-09-30 12071905 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 12071905 2 2023-10-01 2024-09-30 12071905 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-09-30 12071905 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-09-30 12071905 d:LeasedAssetsHeldAsLessee 2024-09-30 12071905 d:LeasedAssetsHeldAsLessee 2023-09-30 12071905 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12071905










CHARLES HUMPHREYS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
CHARLES HUMPHREYS LTD
REGISTERED NUMBER: 12071905

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
14,942
17,468

  
14,942
17,468

Current assets
  

Stocks
  
20,000
22,600

Debtors: amounts falling due within one year
 6 
44,725
31,114

Cash at bank and in hand
 7 
14,445
26,068

  
79,170
79,782

Creditors: amounts falling due within one year
 8 
(83,281)
(79,790)

Net current liabilities
  
 
 
(4,111)
 
 
(8)

Total assets less current liabilities
  
10,831
17,460

Creditors: amounts falling due after more than one year
 9 
(6,664)
(14,664)

Provisions for liabilities
  

Deferred tax
 11 
(3,077)
(2,412)

  
 
 
(3,077)
 
 
(2,412)

Net assets
  
1,090
384


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
 13 
990
284

  
1,090
384


Page 1

 
CHARLES HUMPHREYS LTD
REGISTERED NUMBER: 12071905
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers 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 director acknowledges his 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 comprehensive income 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 19 June 2025.




SJ Humphreys
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Charles Humphreys Ltd, 12071905, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at The Garage, Severn Square, Newtown, Powys, United Kingdom, SY16 2AE.
The principal activity of the company is motor repairs.

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 discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue 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 revenue 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.

Page 3

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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

 
2.7

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.

Page 4

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

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

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 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.9

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 and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
Office equipment
-
25%

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 5

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

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 on a weighted average basis. 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. The impairment loss is recognised immediately in profit or loss.

 
2.11

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.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

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.

 
2.14

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.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 7).

Page 7

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2023
33,653
5,075
3,119
347
42,194


Disposals
(2,000)
-
-
-
(2,000)



At 30 September 2024

31,653
5,075
3,119
347
40,194



Depreciation


At 1 October 2023
20,025
2,475
2,006
220
24,726


Charge for the year on owned assets
1,372
-
278
32
1,682


Disposals
(1,156)
-
-
-
(1,156)



At 30 September 2024

20,241
2,475
2,284
252
25,252



Net book value



At 30 September 2024
11,412
2,600
835
95
14,942



At 30 September 2023
13,628
2,600
1,113
127
17,468

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Plant and machinery
-
2,500

-
2,500

Page 8

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
10,337
12,231

Other debtors
30,935
15,305

Prepayments and accrued income
3,453
3,578

44,725
31,114



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
14,445
26,068

14,445
26,068


Page 9

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,000
8,000

Trade creditors
31,873
38,219

Corporation tax
16,533
10,281

Other taxation and social security
12,232
17,238

Obligations under finance lease and hire purchase contracts
-
631

Other creditors
12,018
2,971

Accruals and deferred income
2,625
2,450

83,281
79,790


The following liabilities were secured:

2024
2023
£
£



Hire purchase contracts
-
631

-
631

Details of security provided:

Hire purchase liabilities are secured upon the assets to which they relate.
The amount of £8,000 (2023: £8,000) included in creditors due within one year is subject to a UK government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,664
14,664

6,664
14,664


The amount of £6,664 (2023: £14,664) included in creditors due in more than one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.

Page 10

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
8,000
8,000


8,000
8,000

Amounts falling due 1-2 years

Bank loans
6,664
8,000


6,664
8,000

Amounts falling due 2-5 years

Bank loans
-
6,664


-
6,664


14,664
22,664


Page 11

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.


Deferred taxation




2024


£






At beginning of year
2,412


Charged to profit or loss
665



At end of year
3,077

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
3,167
2,412

Pension surplus
(90)
-

3,077
2,412


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



54 (2023 - 54) Ordinary A shares of £1.00 each
54
54
46 (2023 - 46) Ordinary B shares of £1.00 each
46
46

100

100



13.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the company since the incorporation less distributions made to shareholders.

Page 12

 
CHARLES HUMPHREYS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024


14.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,266 (2023: £3,283). Contributions totaling £835 (2023: £1,742) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 13