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Registered number: 08792680
Handy Brand UK Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08792680
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 76,553 88,784
Tangible Assets 5 82,405 110,964
158,958 199,748
CURRENT ASSETS
Stocks 6 9,789 9,644
Debtors 7 851,748 712,504
Cash at bank and in hand 263,717 292,630
1,125,254 1,014,778
Creditors: Amounts Falling Due Within One Year 8 (227,915 ) (218,349 )
NET CURRENT ASSETS (LIABILITIES) 897,339 796,429
TOTAL ASSETS LESS CURRENT LIABILITIES 1,056,297 996,177
PROVISIONS FOR LIABILITIES
Deferred Taxation (41,292 ) (51,830 )
NET ASSETS 1,015,005 944,347
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 1,015,003 944,345
SHAREHOLDERS' FUNDS 1,015,005 944,347
Page 1
Page 2
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Martyn Kilford
Director
18 July 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Handy Brand UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08792680 . The registered office is Unit 6 Harbour Road Trading Estate, Portishead, Bristol, BS20 7BL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It was amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to website development. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was 8 (2023: 8)
8 8
4. Intangible Assets
Goodwill Other Total
£ £ £
Cost
As at 1 December 2023 220,000 238,056 458,056
Additions - 16,979 16,979
As at 30 November 2024 220,000 255,035 475,035
Amortisation
As at 1 December 2023 220,000 149,272 369,272
Provided during the period - 29,210 29,210
As at 30 November 2024 220,000 178,482 398,482
Net Book Value
As at 30 November 2024 - 76,553 76,553
As at 1 December 2023 - 88,784 88,784
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 160,083 34,469 77,036 271,588
Additions - 625 - 625
Disposals (10,000 ) - - (10,000 )
As at 30 November 2024 150,083 35,094 77,036 262,213
Depreciation
As at 1 December 2023 75,306 24,950 60,368 160,624
Provided during the period 11,554 1,483 8,391 21,428
Disposals (2,244 ) - - (2,244 )
As at 30 November 2024 84,616 26,433 68,759 179,808
Net Book Value
As at 30 November 2024 65,467 8,661 8,277 82,405
As at 1 December 2023 84,777 9,519 16,668 110,964
Page 4
Page 5
6. Stocks
2024 2023
£ £
Stock 9,789 9,644
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 648 1,513
Prepayments and accrued income 2,936 3,477
Net wages 121 721
3,705 5,711
Due after more than one year
Other debtors 8,000 8,000
Amounts owed by other participating interests 840,043 698,793
848,043 706,793
851,748 712,504
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 20,233 32,020
Corporation tax 73,182 58,256
Other taxes and social security 3,433 4,399
VAT 39,864 41,504
Other creditors 32,140 31,147
Accruals and deferred income 2,426 2,304
Director's loan account 56,637 48,719
227,915 218,349
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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