Horsleys of Abbeytown Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—5

Registered number: 05368322

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		-		4,348
Tangible Assets	5		2,002,054		2,089,758

			2,002,054		2,094,106
CURRENT ASSETS
Stocks		2,665		2,825
Debtors		434,771		326,879

		437,436		329,704
Creditors: Amounts Falling Due Within One Year		(488,377 )		(352,741 )

NET CURRENT ASSETS (LIABILITIES)			(50,941 )		(23,037 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,951,113		2,071,069

Creditors: Amounts Falling Due After More Than One Year			(510,846 )		(711,853 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	7		(469,067 )		(448,364 )

NET ASSETS			971,200		910,852

CAPITAL AND RESERVES
Called up share capital	8		5		5
Capital redemption reserve			5		5
Profit and Loss Account			971,190		910,842

SHAREHOLDERS' FUNDS			971,200		910,852

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Horsleys of Abbeytown Limited

Abridged Balance Sheet (continued)

As At 31 January 2025

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have 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.

All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 January 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr John Horsley

Director

31 March 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Horsleys of Abbeytown Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05368322 . The registered office is Unit 7 Cooper Way, Parkhouse, Carlisle, Cumbria, CA3 0JG.

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 is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. 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:

Freehold	No charge
Plant & Machinery	10% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	10% reducing balance
Computer Equipment	15% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

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. Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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Horsleys of Abbeytown Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 January 2025

2.8. Taxation

The tax charge represents the sum of the tax currently payable and deferred tax.

Corporation tax currently payable is based on taxable profit for the year. 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 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.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2024: 4)

4. Intangible Assets

	Total
	£
Cost
As at 1 February 2024	94,000

As at 31 January 2025	94,000

Amortisation
As at 1 February 2024	89,652
Provided during the period	4,348

As at 31 January 2025	94,000

Net Book Value
As at 31 January 2025	-

As at 1 February 2024	4,348

5. Tangible Assets

	Total
	£
Cost
As at 1 February 2024	3,648,255
Additions	215,100
Disposals	(100,950 )

As at 31 January 2025	3,762,405

Depreciation
As at 1 February 2024	1,558,497
Provided during the period	261,044
Disposals	(59,190 )

As at 31 January 2025	1,760,351

Net Book Value
As at 31 January 2025	2,002,054

As at 1 February 2024	2,089,758

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Horsleys of Abbeytown Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 January 2025

6. Secured Creditors

Of the creditors the following amounts are secured.

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	852,995	955,952
Bank loans and overdrafts	15,670	37,654

7. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	469,067	448,364

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	5	5

9. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date unpaid contributions of £nil (2024: £105) were due to the fund. They are included in Other Creditors.

10. Related Party Transactions

The company operate a loan with Horsley's Contracting 2022 Ltd, a company in which Mr J Horsley is also a director. At the year end Horsley's Contracting 2022 Ltd owed Horsleys of Abbeytown Limited £nil (2023: £24,613). There are no agreed repayment terms or interest charged on the loan.

The company operates from premises owned by the directors for which no rent is charged.

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