General Information
A Hinsley Limited is a private company, limited by shares, registered in England and Wales, registration number 00669632, registration address 26 Dovecote Lane, Beeston, Nottingham, NG9 1HU.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Revenue Recognition
Turnover is measured at a fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:Sale of properties: Turnover from the sale of properties is recognised when the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually when contracts have been exchanged. Supply of services: Turnover from the supply of building services is recognised on completion of the task. When completion of the task can be reliably measured, the entity will recognise both the income and expenditure.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
25% Reducing Balance
|
| Fixtures and Fittings |
25% Reducing Balance
|
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Pension costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge of the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the cost effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
|
| 2. |
Average number of employees
Average number of employees during the year was 3 (2024 : 3).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Fixtures and Fittings |
|
Investment properties |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 April 2024 |
2,928 |
|
1,999 |
|
250,000 |
|
254,927 |
| Additions |
- |
|
- |
|
- |
|
- |
| Disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
2,928 |
|
1,999 |
|
250,000 |
|
254,927 |
| Depreciation |
| At 01 April 2024 |
2,368 |
|
1,968 |
|
- |
|
4,336 |
| Charge for year |
140 |
|
8 |
|
- |
|
148 |
| On disposals |
- |
|
- |
|
- |
|
- |
| At 31 March 2025 |
2,508 |
|
1,976 |
|
- |
|
4,484 |
| Net book values |
| Closing balance as at 31 March 2025 |
420 |
|
23 |
|
250,000 |
|
250,443 |
| Opening balance as at 01 April 2024 |
560 |
|
31 |
|
250,000 |
|
250,591 |
The methods and significant assumptions used to ascertain the fair value of £250,000 (cost: £140,000) is as follows:
A professional valuation has been carried out on a Market Value basis, and in the opinion of the director Mr R A Hinsley, given his expertise and knowledge of the property market, this valuation fairly reflects the current market value.
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Work in Progress |
505,112 |
|
567,252 |
|
505,112 |
|
567,252 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Prepayments & Accrued Income |
2,968 |
|
2,772 |
| Other Debtors |
5,446 |
|
0 |
| VAT |
0 |
|
1,057 |
|
8,414 |
|
3,829 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
5,041 |
|
6,309 |
| Bank Loans & Overdrafts |
10,000 |
|
10,000 |
| Corporation Tax |
53,268 |
|
49,927 |
| PAYE & Social Security |
4,751 |
|
3,864 |
| Accrued Expenses |
4,738 |
|
4,729 |
| Other Creditors |
305 |
|
306 |
| Directors' Current Accounts |
533 |
|
9,452 |
| VAT |
11,698 |
|
0 |
|
90,334 |
|
84,587 |
Other bank loans are guaranteed by the government.
|
| 7. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Bank Loans & Overdrafts |
3,333 |
|
13,333 |
|
3,333 |
|
13,333 |
|
| 8. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
27,250 |
|
21,050 |
| Charged to Profit & Loss |
96 |
|
6,200 |
|
27,346 |
|
27,250 |
|
| 9. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
10,000
Ordinary shares of £1.00 each |
10,000 |
|
10,000 |
|
10,000 |
|
10,000 |
|
| 10. |
Related Party Transactions
During the year a loan existed, made to the company by both Mr R A Hinsley and Ms V M Widdowson, both directors of the company. The amount owed to the directors at the balance sheet date were as follows:
Mr R A Hinsley - £93 (2024 - £12).
Ms V M Widdowson - £440 (2024 - £9,440).
|
3
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