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HOFFMANN INDUSTRIES LIMITED

Registered Number
08696809
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

HOFFMANN INDUSTRIES LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

HOFFMANN, James Alexander

Registered Address

2 Europe Way
Cockermouth
CA13 0RJ

Registered Number

08696809 (England and Wales)
HOFFMANN INDUSTRIES LIMITED
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3125,500144,318
125,500144,318
Current assets
Stocks428,530-
Debtors5107,944158,019
Current asset investments177,378158,153
Cash at bank and on hand324,677450,062
638,529766,234
Creditors amounts falling due within one year6(64,601)(170,079)
Net current assets (liabilities)573,928596,155
Total assets less current liabilities699,428740,473
Provisions for liabilities7(15,000)(18,665)
Net assets684,428721,808
Capital and reserves
Called up share capital100100
Profit and loss account684,328721,708
Shareholders' funds684,428721,808
The financial statements were approved and authorised for issue by the Director on 25 June 2025, and are signed on its behalf by:
HOFFMANN, James Alexander
Director
Registered Company No. 08696809
HOFFMANN INDUSTRIES LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, 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 the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year64
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 October 2369,25959,986105,45079,131313,826
Additions-21,464-6,83428,298
At 30 September 2469,25981,450105,45085,965342,124
Depreciation and impairment
At 01 October 2313,85213,89280,42761,337169,508
Charge for year13,85214,1926,25512,81747,116
At 30 September 2427,70428,08486,68274,154216,624
Net book value
At 30 September 2441,55553,36618,76811,811125,500
At 30 September 2355,40746,09425,02317,794144,318
4.Stocks

2024

2023

££
Work in progress28,530-
Total28,530-
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables54,46968,466
Other debtors1,74314,497
Prepayments and accrued income51,73275,056
Total107,944158,019
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables6,758135,279
Bank borrowings and overdrafts-10,333
Taxation and social security48,0274,371
Other creditors7,16617,433
Accrued liabilities and deferred income2,6502,663
Total64,601170,079
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)15,00018,665
Total15,00018,665