Registered number
07702632
Robert J Hunt Limited
Filleted Accounts
31 July 2024
Robert J Hunt Limited
Registered number: 07702632
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 66,900 79,583
Current assets
Stocks 10,000 700,000
Debtors 4 88,885 181,738
Cash at bank and in hand 73,753 (18,072)
172,638 863,666
Creditors: amounts falling due within one year 5 (124,133) (506,255)
Net current assets 48,505 357,411
Total assets less current liabilities 115,405 436,994
Creditors: amounts falling due after more than one year 6 (32,359) (60,101)
Provisions for liabilities (12,711) (15,121)
Net assets 70,335 361,772
Capital and reserves
Called up share capital 1 1
Profit and loss account 70,334 361,771
Shareholder's funds 70,335 361,772
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R J Hunt
Director
Approved by the board on 28 July 2025
Robert J Hunt Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
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
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 101,680 77,401 179,081
Additions 3,454 - 3,454
At 31 July 2024 105,134 77,401 182,535
Depreciation
At 1 August 2023 58,786 40,712 99,498
Charge for the year 8,799 7,338 16,137
At 31 July 2024 67,585 48,050 115,635
Net book value
At 31 July 2024 37,549 29,351 66,900
At 31 July 2023 42,894 36,689 79,583
4 Debtors 2024 2023
£ £
Trade debtors 86,850 175,000
Other debtors 2,035 6,738
88,885 181,738
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,472 5,472
Obligations under finance lease and hire purchase contracts 22,271 11,878
Trade creditors 11,069 13,472
Taxation and social security costs 7,526 2,504
Other creditors 77,795 472,929
124,133 506,255
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,447 31,918
Obligations under finance lease and hire purchase contracts 5,912 28,183
32,359 60,101
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 4,560 10,032
Secured bank loans - 138,050
[Give an indication of the nature and form of the security for the bank loans]
8 Other information
Robert J Hunt Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4 Park Farm
Inworth
Colchester
Essex
CO5 9SH
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