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REGISTERED NUMBER: 06214634 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Hodgetts Ltd

Hodgetts Ltd (Registered number: 06214634)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hodgetts Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mrs D L Hodgetts
G Hodgetts





REGISTERED OFFICE: Model Farm
Elford
Tamworth
Staffordshire
B79 9DR





REGISTERED NUMBER: 06214634 (England and Wales)





ACCOUNTANTS: Bourne & Co.
Chartered Accountants
47a Queen Street
Derby
Derbyshire
DE1 3DE

Hodgetts Ltd (Registered number: 06214634)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,633 95,696
Investment property 5 1,275,000 1,100,000
1,359,633 1,195,696

CURRENT ASSETS
Stocks 500 500
Debtors 6 19,381 23,703
Cash at bank 1,798 1,668
21,679 25,871
CREDITORS
Amounts falling due within one year 7 55,372 52,716
NET CURRENT LIABILITIES (33,693 ) (26,845 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,325,940

1,168,851

CREDITORS
Amounts falling due after more than one
year

8

(28,226

)

(51,506

)

PROVISIONS FOR LIABILITIES (154,471 ) (110,721 )
NET ASSETS 1,143,243 1,006,624

CAPITAL AND RESERVES
Called up share capital 110 110
Share premium 624,929 624,929
Fair value reserve 9 608,769 477,519
Retained earnings (90,565 ) (95,934 )
SHAREHOLDERS' FUNDS 1,143,243 1,006,624

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

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

Hodgetts Ltd (Registered number: 06214634)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 July 2025 and were signed on its behalf by:





Mrs D L Hodgetts - Director


Hodgetts Ltd (Registered number: 06214634)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Hodgetts Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced rental income and associated charges relating to the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance and 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with Financial Reporting Standard 102 Section 1A (FRS 102 S1A), investment properties are revalued and the surplus or deficit is transferred to the profit and loss account, and no depreciation is provided in respect of freehold investment properties. The requirement of the Companies Act 2006 is to depreciate all properties, but that requirement conflicts with the generally accepted accounting principle set out in FRS 102 S1A. The director considers that to depreciate such properties would not give a true and fair view, but that a true and fair view is given by following FRS 102 S1A as described above. The effect of this departure from the Companies Act 2006 has not been quantified because it is impracticable and, in the opinion of the director, would be misleading. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

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 Income Statement, 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.

Hodgetts Ltd (Registered number: 06214634)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial liabilities
Short term creditors are measured at transaction price. Other financial liabilities, including loans from group companies are measured initially at fair value, net of transaction cost and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Financial assets
Short term debtors are measured at transaction price, less any impairment. Other financial assets, including loans to group companies are measured initially at fair value, net of transactions cost and are subsequently measured at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
Cabins machinery fittings
£    £    £   
COST
At 1 November 2023 74,700 6,615 6,855
Additions - - 2,545
Reclassification/transfer 6,329 (6,615 ) 287
At 31 October 2024 81,029 - 9,687
DEPRECIATION
At 1 November 2023 7,470 660 1,490
Charge for year 8,102 - 1,186
Reclassification/transfer 632 (660 ) 28
At 31 October 2024 16,204 - 2,704
NET BOOK VALUE
At 31 October 2024 64,825 - 6,983
At 31 October 2023 67,230 5,955 5,365

Hodgetts Ltd (Registered number: 06214634)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 31,044 2,552 121,766
Additions - - 2,545
Reclassification/transfer - - 1
At 31 October 2024 31,044 2,552 124,312
DEPRECIATION
At 1 November 2023 13,945 2,505 26,070
Charge for year 4,274 47 13,609
Reclassification/transfer - - -
At 31 October 2024 18,219 2,552 39,679
NET BOOK VALUE
At 31 October 2024 12,825 - 84,633
At 31 October 2023 17,099 47 95,696

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Cabins vehicles Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 74,700 31,044 105,744
DEPRECIATION
At 1 November 2023 7,470 13,945 21,415
Charge for year 7,470 4,274 11,744
At 31 October 2024 14,940 18,219 33,159
NET BOOK VALUE
At 31 October 2024 59,760 12,825 72,585
At 31 October 2023 67,230 17,099 84,329

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 1,100,000
Revaluations 175,000
At 31 October 2024 1,275,000
NET BOOK VALUE
At 31 October 2024 1,275,000
At 31 October 2023 1,100,000

The properties were valued on 31 October 2024 by Mrs D L Hodgetts MRICS, director, on a fair value basis.

Hodgetts Ltd (Registered number: 06214634)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2012 108,000
Valuation in 2014 20,000
Valuation in 2022 360,240
Valuation in 2023 100,000
Valuation in 2024 175,000
Cost 511,760
1,275,000

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 6,150 10,472
Other debtors 6,014 6,014
12,164 16,486

Amounts falling due after more than one year:
Amounts owed by group undertakings 7,217 7,217

Aggregate amounts 19,381 23,703

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,543 3,362
Hire purchase contracts 19,737 19,737
Trade creditors 992 11,233
VAT 4,198 7,759
Other creditors 6,625 6,125
Net wages 1,117 -
Income in advance 2,787 1,634
Directors' current accounts 14,623 1,116
Accrued expenses 1,750 1,750
55,372 52,716

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 1,780 3,362
Bank loans - 2-5 years - 1,961
Hire purchase contracts 26,446 46,183
28,226 51,506

9. RESERVES
Fair
value
reserve
£   
At 1 November 2023 477,519
Property revaluation transfer 131,250

At 31 October 2024 608,769

Hodgetts Ltd (Registered number: 06214634)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

10. CONTINGENT LIABILITIES

The holding company, Cooper Holdings (Tamworth and Burton) Limited, has retained £7,217 from Hodgetts Limited as part of a reserve to cover the cost of any contamination remediation occuring in any subsidiary of the holding company. This is shown as a debtor in these accounts. There is the possibility that a claim may be made by a subsidiary in the future which would reduce the amount of the reserve ultimately repayable by the holding company to Hodgetts Limited.

11. PARENT COMPANY

The company is a wholly owned subsidiary of Cooper Holdings (Tamworth and Burton) Limited.