Registration number:
Hanby Estates Ltd
for the Year Ended 31 December 2024
Hanby Estates Ltd
(Registration number: 00479671)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Hanby Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The Company is a private company limited by share capital, incorporated in England and Wales and the company registration number is 00479671.
The address of its registered office is:
These financial statements cover the individual entity Hanby Estates Ltd.
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Hanby Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using rates and allowances that apply to the sale of the asset.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Freehold land |
Not depreciated |
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Freehold buildings |
15% reducing balance |
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General machinery |
15% reducing balance |
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Sawmill machinery |
15% reducing balance |
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Motor vehicles |
25% reducing balance |
Investment property
Dividends
Dividend distributions to the company’s shareholders are recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Hanby Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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- |
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Disposals |
( |
( |
( |
( |
( |
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At 31 December 2024 |
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- |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
- |
- |
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Eliminated on disposal |
( |
( |
( |
( |
( |
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At 31 December 2024 |
- |
- |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Included within the net book value of land and buildings above is £599,209 (2023 - £609,855) in respect of freehold land and buildings.
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Investment properties |
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2024 |
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At 1 January |
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Fair value adjustments |
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At 31 December |
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The investment property was revalued by the directors in 2024.
Hanby Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Stocks |
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2024 |
2023 |
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Other inventories |
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Debtors |
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Current |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Hire purchase liabilities |
32,504 |
30,613 |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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1,800 |
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1,800 |
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1,800 |
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1,800 |
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Hanby Estates Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Hire purchase liabilities |
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Included within non-current loans and borrowings are hire purchase liabilities totalling £76,063 (2023: £9,502) secured on the assets acquired.
Current loans and borrowings
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2024 |
2023 |
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Hire purchase liabilities |
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Other borrowings |
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- |
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Included within current loans and borrowings are hire purchase liabilities totalling £32,504 (2023: £30,613) secured on the assets acquired.
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Related party transactions |
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Transactions with Directors |
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2024 |
At 1 January 2024 |
Repayments by Director |
At 31 December 2024 |
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Directors loan account |
( |
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2023 |
At 1 January 2023 |
Repayments by Director |
At 31 December 2023 |
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Directors loan account |
( |
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( |
A rate of interest of 2.5% has been paid throughout the year on the overdrawn loan account balance.
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Non adjusting events after the financial period |
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