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A. HINGLEY & SON (TIMBER) LIMITED

Registered Number
01145225
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

A. HINGLEY & SON (TIMBER) LIMITED
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

HINGLEY, Andrew John
HINGLEY, Richard Guy

Company Secretary

HINGLEY, Andrew John

Registered Address

Nether Lane
Hazelwood
Belper
DE56 4AP

Registered Number

01145225 (England and Wales)
A. HINGLEY & SON (TIMBER) LIMITED
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3703,678689,786
703,678689,786
Current assets
Stocks120,735136,050
Debtors646,738649,457
Cash at bank and on hand9,7519,664
777,224795,171
Creditors amounts falling due within one year(456,567)(720,946)
Net current assets (liabilities)320,65774,225
Total assets less current liabilities1,024,335764,011
Creditors amounts falling due after one year(5,251)(15,369)
Net assets1,019,084748,642
Capital and reserves
Called up share capital126,474126,474
Share premium214,587214,587
Profit and loss account678,023407,581
Shareholders' funds1,019,084748,642
The financial statements were approved and authorised for issue by the Board of Directors on 11 June 2025, and are signed on its behalf by:
HINGLEY, Andrew John
Director
Registered Company No. 01145225
A. HINGLEY & SON (TIMBER) LIMITED
Notes to the Financial Statements
for the year ended 30 November 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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
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 profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment are used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for slow-moving and obsolete items of stock.
2.Average number of employees

20242023
Average number of employees during the year1414
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 December 231,217,713
Additions25,000
At 30 November 241,242,713
Depreciation and impairment
At 01 December 23527,927
Charge for year11,108
At 30 November 24539,035
Net book value
At 30 November 24703,678
At 30 November 23689,786
The total cost of land and buildings of £635,398 includes freehold land of £263,000 (2022 - £263,000) which is not depreciated. The freehold buildings of £372,389 (2022 - £372,398) are considered to have a net realisable value in excess of the cost, so the depreciation of these to date is nil.
4.Related party transactions
Included within creditors are £1,500 (2023 - £4,500) owed to the director R G Hingley and £1,500 (2023 - £4,500) owed to the director A J Hingley by the company. No interest is charged and there are no fixed repayment terms.