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Howsons Limited

Registered Number
04760389
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2025

Howsons Limited
Company Information
for the year from 1 April 2024 to 31 March 2025

Directors

Mr A R Howson
Mr A M Howson
Mrs J G Howson
Mr M A Howson
Mr M A Howson

Company Secretary

HOWSON, Janice Garnett

Registered Address

Kirksteads
Westhouse
Ingleton
LA6 3NJ

Registered Number

04760389 (England and Wales)
Howsons Limited
Statement of Financial Position
31 March 2025

Notes

2025

2024

£

£

£

£

Fixed assets
Tangible assets41,971,3261,726,715
Investments6101101
Investment property51,830,6291,830,629
3,802,0563,557,445
Current assets
Stocks72,485,6402,263,763
Debtors8,94,321,8593,668,443
Cash at bank and on hand3,580,4282,995,331
10,387,9278,927,537
Creditors amounts falling due within one year10(1,491,359)(1,527,097)
Net current assets (liabilities)8,896,5687,400,440
Total assets less current liabilities12,698,62410,957,885
Provisions for liabilities12(199,000)(270,649)
Net assets12,499,62410,687,236
Capital and reserves
Called up share capital100100
Revaluation reserve151,047151,047
Profit and loss account12,348,47710,536,089
Shareholders' funds1512,499,62410,687,236
The financial statements were approved and authorised for issue by the Board of Directors on 30 July 2025, and are signed on its behalf by:
Mr M A Howson
Director
Registered Company No. 04760389
Howsons Limited
Notes to the Financial Statements
for the year ended 31 March 2025

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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.
Employee benefits
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 accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
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:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery15-
Fixtures and fittings15-
Vehicles25-
Office Equipment15-
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.
Investment property
Investment property is carried at fair value determined annually by external values and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised 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 completed the sale. The impairment loss is recognised immediately in the Income Statement.
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. Bank borrowings and overdraft are secured by fixed and floating charges over the assets of the company.
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

20252024
Average number of employees during the year4338
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2410,30010,300
At 31 March 2510,30010,300
Amortisation and impairment
At 01 April 2410,30010,300
At 31 March 2510,30010,300
Net book value
At 31 March 25--
At 31 March 24--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 April 24875,140631,5731,113,12459,64377,7082,757,188
Additions220,93028,313337,441-3,473590,157
Disposals--(216,764)--(216,764)
At 31 March 251,096,070659,8861,233,80159,64381,1813,130,581
Depreciation and impairment
At 01 April 24194,639304,300434,73344,05752,7441,030,473
Charge for year16,62050,753170,0352,3383,933243,679
On disposals--(114,897)--(114,897)
At 31 March 25211,259355,053489,87146,39556,6771,159,255
Net book value
At 31 March 25884,811304,833743,93013,24824,5041,971,326
At 31 March 24680,501327,273678,39115,58624,9641,726,715
5.Investment property
The 2024 valuations were made by the directors on an open market value for existing use basis. It is the opinion of the directors that this valuation has not materiality altered at the period end date. Had the Investment Property been measured at historical cost the amounts would have been £1,699,233 (2024 - £1,699,233).

£
Fair value at 01 April 241,830,629
At 31 March 251,830,629
6.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 24101101
At 31 March 25101101
Net book value
At 31 March 25101101
At 31 March 24101101

Notes

1Investments in group undertakings and participating interests
7.Stocks

2025

2024

££
Work in progress2,338,2602,111,717
Finished goods147,380152,046
Total2,485,6402,263,763
8.Debtors: amounts due within one year

2025

2024

££
Trade debtors / trade receivables1,269,4611,156,765
Amounts owed by group undertakings2,149,899-
Other debtors320,0001,986,714
Prepayments and accrued income87,02829,493
Total3,826,3883,172,972
9.Debtors: amounts due after one year

2025

2024

££
Other debtors495,471495,471
Total495,471495,471
10.Creditors: amounts due within one year

2025

2024

££
Trade creditors / trade payables384,035385,713
Amounts owed to related parties-101
Taxation and social security765,945977,059
Other creditors259,77166,607
Accrued liabilities and deferred income81,60897,617
Total1,491,3591,527,097
11.Creditors: amounts due after one year
Bank borrowings and overdraft are secured by fixed and floating charges over the assets of the company.
12.Provisions for liabilities

2025

2024

££
Net deferred tax liability (asset)199,000270,649
Total199,000270,649
13.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £206,172 (2024 - £205,067).
14.Directors advances, credits and guarantees
On 1 April 2024, a director owed the Company £597,316. During the period this director was advanced a further £111,917 and repaid £791,667. As at 31 March 2025, the Company owed the director £82,434. Interest of £9,019 was charged on this loan. On 1 April 2024, a director owed the Company £604,305. During the period this director was advanced a further £110,765 and repaid £791,667. As at 31 March 2025, the Company owed the director £76,597. Interest of £7,431 was charged on this loan. On 1 April 2024, a director owed the Company £625,094. During the period this director was advanced a further £113,468 and repaid £791,667. As at 31 March 2025, the Company owed the director £53,105. Interest of £7,691 was charged on this loan.
15.Revaluation reserve
The revaluation reserve represents the amount of unrealised surplus created when the investment property was revalued, less any deferred tax provision. The reserve represents non-distributable funds.

£
Reserve at 01 April 24151,047
At 31 March 25151,047
16.Related party transactions
During the year a director had a loan account with the company. At the balance sheet date the company owed a director £11,570 (2024 - £49,745), This loan is unsecured, interest free and repayable upon demand.