THE HOWBECK LIMITED


Director	MONK, Colin


Registered Address	The Howbeck
	New Road
	Windermere
	LA23 2LA


Registered Number	10630249 (England and Wales)

Statement of Financial Position
31 October 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		13,243		17,482
			13,243		17,482
Current assets
Stocks	4	2,801		2,801
Debtors	5	917,029		893,822
Cash at bank and on hand		12,839		22,403
		932,669		919,026
Creditors amounts falling due within one year	6	(154,902)		(134,570)
Net current assets (liabilities)			777,767		784,456
Total assets less current liabilities			791,010		801,938
Creditors amounts falling due after one year	7		(545,955)		(545,955)
Provisions for liabilities	8		(2,200)		(3,100)
Net assets			242,855		252,883
Capital and reserves
Called up share capital			106		106
Profit and loss account			242,749		252,777
Shareholders' funds			242,855		252,883

The company was entitled to exemption from audit for this reporting period 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 22 October 2025, and are signed on its behalf by:

MONK, Colin
Director
Registered Company No. 10630249

THE HOWBECK LIMITED

Notes to the Financial Statements
for the year ended 31 October 2024

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.

	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.

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.

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.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement

	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.

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.

	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:

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 (%)
	Plant and machinery	33
	Fixtures and fittings	33
	Office Equipment	33

	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 complete 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 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.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	5		4

3.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 November 23	9,374	65,776	1,445	76,595
Additions	1,064	208	498	1,770
At 31 October 24	10,438	65,984	1,943	78,365
Depreciation and impairment
At 01 November 23	7,651	50,124	1,338	59,113
Charge for year	685	5,182	142	6,009
At 31 October 24	8,336	55,306	1,480	65,122
Net book value
At 31 October 24	2,102	10,678	463	13,243
At 31 October 23	1,723	15,652	107	17,482

4.	Stocks

	2024	2023
	£	£
Finished goods	2,801	2,801
Total	2,801	2,801

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	2,307	626
Amounts owed by associates and joint ventures / participating interests	912,052	882,614
Other debtors	-	6,556
Prepayments and accrued income	2,670	4,026
Total	917,029	893,822

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	18,272	18,243
Bank borrowings and overdrafts	15,300	15,300
Amounts owed to related parties	9,162	-
Taxation and social security	15,819	12,855
Other creditors	57,190	65,286
Accrued liabilities and deferred income	39,159	22,886
Total	154,902	134,570


	The other loan is secured by a fixed and floating charge over the company's assets.

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	545,955	545,955
Total	545,955	545,955


	The other loan is secured by a fixed and floating charge over the company's assets.

8.	Provisions for liabilities
	The provision for deferred tax relates to accelerated capital allowances in both years.

	2024	2023
	£	£
Net deferred tax liability (asset)	2,200	3,100
Total	2,200	3,100