F. L. Hitchman Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 07964238 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

F. L. Hitchman Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Griffin

T J Griffin

REGISTERED OFFICE:

Unit 46 The Trading Estate

Station Road Ditton Priors

Bridgnorth

Shropshire

WV16 6SS

REGISTERED NUMBER:

07964238 (England and Wales)

FIXED ASSETS

Intangible assets

4

2,489

2,987

Tangible assets

5

102,343

47,747

104,832

50,734

CURRENT ASSETS

Stocks

287,500

320,713

Debtors

6

453,439

411,913

Cash at bank and in hand

305

7,846

741,244

740,472

CREDITORS

Amounts falling due within one year

7

696,973

439,814

NET CURRENT ASSETS

44,271

300,658

TOTAL ASSETS LESS CURRENT
LIABILITIES

149,103

351,392

CREDITORS

Amounts falling due after more than one
year

8

126,734

146,643

NET ASSETS

22,369

204,749

CAPITAL AND RESERVES

Called up share capital

9

100

Retained earnings

22,269

204,649

SHAREHOLDERS' FUNDS

22,369

204,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

J Griffin - Director

1.	STATUTORY INFORMATION

F. L. Hitchman Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 20% on cost

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on straight line basis

Fixtures and fittings

-

20% on straight line basis

Motor vehicles

-

20% on straight line basis

Computer equipment

-

20% on straight line basis

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

COST

At 1 January 2024

and 31 December 2024

608,325

4,480

612,805

AMORTISATION

At 1 January 2024

608,325

1,493

609,818

Amortisation for year

-

498

At 31 December 2024

608,325

1,991

610,316

NET BOOK VALUE

At 31 December 2024

-

2,489

At 31 December 2023

-

2,987

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

COST

At 1 January 2024

212,210

4,428

11,995

6,440

235,073

Additions

96,222

-

416

96,638

At 31 December 2024

308,432

4,428

11,995

6,856

331,711

DEPRECIATION

At 1 January 2024

164,896

3,995

11,995

6,440

187,326

Charge for year

41,784

175

-

83

42,042

At 31 December 2024

206,680

4,170

11,995

6,523

229,368

NET BOOK VALUE

At 31 December 2024

101,752

258

-

333

102,343

At 31 December 2023

47,314

433

-

47,747

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

255,071

215,245

Other debtors

45,017

43,080

Directors' current accounts

115,188

115,459

Tax

38,028

Prepayments

135

101

453,439

411,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

243,788

135,086

Trade creditors

298,338

180,031

Tax

32,427

57,195

Social security and other taxes

51,885

24,599

VAT

64,266

40,490

Other creditors

1,119

963

Lloyds credit card

-

(3,700

)

Accruals and deferred income

5,150

696,973

439,814

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans - 1-2 years

66,876

88,242

Bank loans - 2-5 years

59,858

58,401

126,734

146,643

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

10.	TRANSACTIONS WITH DIRECTORS

Included in other debtors is £115,188 (2023 - £115,459) owed by the director, Mr J Griffin. This is the maximum amount owed in the year and interest has been charged on the outstanding balance at the official rate of 2.25%.