Handyman (Louth and Alford) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04602254 (England and Wales)

HANDYMAN (LOUTH AND ALFORD) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

P C Bennett

Mrs H L Bennett

SECRETARY:

Mrs H L Bennett

REGISTERED OFFICE:

The Laurels

Station Road

Legbourne

Louth

Lincolnshire

LN11 8LL

REGISTERED NUMBER:

04602254 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Oxley House

Lincoln Way

Louth

Lincolnshire

LN11 0LS

FIXED ASSETS

Intangible assets

4

-

Property, plant and equipment

5

5,030

2,099

5,030

2,099

CURRENT ASSETS

Inventories

45,463

49,889

Debtors

6

2,881

4,355

Cash at bank and in hand

30,929

32,508

79,273

86,752

CREDITORS

Amounts falling due within one year

7

75,398

70,468

NET CURRENT ASSETS

3,875

16,284

TOTAL ASSETS LESS CURRENT LIABILITIES

8,905

18,383

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

8,805

18,283

SHAREHOLDERS' FUNDS

8,905

18,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 15 October 2025 and were signed on its behalf by:

Mrs H L Bennett - Director

1.	STATUTORY INFORMATION

Handyman (Louth and Alford) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business in 2004 has been fully amortised.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings - 15% on reducing balance

Motor vehicles - 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments

The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Government grants

Grants are recognised as income in the period in which they become receivable.

Going concern

Despite a loss for the year these accounts have been prepared on a going concern basis as there are sufficient funds in the bank to support the company for the next 12 months.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

10,000

AMORTISATION

At 1 February 2024

and 31 January 2025

10,000

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 February 2024

5,790

6,295

12,085

Additions

-

4,800

Disposals

-

(6,295

)

(6,295

)

At 31 January 2025

5,790

4,800

10,590

DEPRECIATION

At 1 February 2024

4,811

5,175

9,986

Charge for year

146

603

749

Eliminated on disposal

-

(5,175

)

(5,175

)

At 31 January 2025

4,957

603

5,560

NET BOOK VALUE

At 31 January 2025

833

4,197

5,030

At 31 January 2024

979

1,120

2,099

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

1,483

2,849

Other debtors

1,398

1,506

2,881

4,355

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

13,728

10,352

Taxation and social security

7,615

6,164

Other creditors

54,055

53,952

75,398

70,468

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

25

Ordinary Class A

£1

25

50

Ordinary Class B

£1

50

25

Ordinary Class C

£1

25

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

2025

2024

£

P C Bennett and Mrs H L Bennett

Balance outstanding at start of year

(27,158

)

(27,158

)

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(27,158

)

(27,158

)

The directors loan account is unsecured, interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

Remuneration paid to the directors during the year was £13,834 (2024 - £12,804)

Rent of £1,800 (2024 - £1,800) was paid to the directors during the year.