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Registered number: 07605479
P&F Hodgkins Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 07605479
31 March 2025 31 March 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,011,965 1,352,873
Investments 5 54,832 54,832
1,066,797 1,407,705
CURRENT ASSETS
Debtors 6 - 10,600
Cash at bank and in hand 106,149 46,354
106,149 56,954
Creditors: Amounts Falling Due Within One Year 7 - (112,636 )
NET CURRENT ASSETS (LIABILITIES) 106,149 (55,682 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,172,946 1,352,023
Creditors: Amounts Falling Due After More Than One Year 8 - (42,355 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (16,700 ) (12,107 )
NET ASSETS 1,156,246 1,297,561
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Revaluation reserve 11 312,994 102,668
Income Statement 842,252 1,193,893
SHAREHOLDERS' FUNDS 1,156,246 1,297,561
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Page 2
For the year ending 31 March 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 directors acknowledge 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 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 Income Statement.
On behalf of the board
Mr P Hodgkins
Director
29/11/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
P&F Hodgkins Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07605479 . The registered office is 100 Missenden Acres, Hedge End, Southampton, Hampshire, SO30 2RE.
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. 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:
Motor Vehicles 25% Straight Line
Fixtures & Fittings 10% Straight Line
Computer Equipment 25% Straight Line
If there is an indication that there has been a significant change in depreciation rate, useful life or
residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under 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 income statement 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 the income statement as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. 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 assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and 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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
4. Tangible Assets
Investment Properties Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 April 2024 1,296,797 107,025 15,794 - 1,419,616
Additions 19,564 47,500 10,608 1,986 79,658
Disposals (476,797 ) (61,895 ) (15,794 ) - (554,486 )
Revaluation 95,436 - - - 95,436
As at 31 March 2025 935,000 92,630 10,608 1,986 1,040,224
Depreciation
As at 1 April 2024 - 52,653 14,090 - 66,743
Provided during the period - 20,189 177 372 20,738
Disposals - (45,132 ) (14,090 ) - (59,222 )
As at 31 March 2025 - 27,710 177 372 28,259
Net Book Value
As at 31 March 2025 935,000 64,920 10,431 1,614 1,011,965
As at 1 April 2024 1,296,797 54,372 1,704 - 1,352,873
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Page 5
5. Investments
Other
£
Cost or Valuation
As at 1 April 2024 54,832
As at 31 March 2025 54,832
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 54,832
As at 1 April 2024 54,832
6. Debtors
31 March 2025 31 March 2024
£ £
Due within one year
Corporation tax recoverable assets - 10,600
7. Creditors: Amounts Falling Due Within One Year
31 March 2025 31 March 2024
£ £
Net obligations under finance lease and hire purchase contracts - 14,378
Trade creditors - (1 )
Net wages - 21
Other creditors - 30
Accruals and deferred income - 1,500
Directors' loan accounts - 96,708
- 112,636
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2025 31 March 2024
£ £
Net obligations under finance lease and hire purchase contracts - 42,355
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9. Obligations Under Finance Leases and Hire Purchase
31 March 2025 31 March 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 14,378
Later than one year and not later than five years - 42,355
- 56,733
- 56,733
10. Share Capital
31 March 2025 31 March 2024
£ £
Allotted, Called up and fully paid 1,000 1,000
11. Reserves
Revaluation reserve Income Statement
£ £
As at 1 April 2024 102,668 1,193,893
Loss for year - (293,310)
Surplus on revaluation 210,326 -
Other comprehensive income for the year 210,326 -
Total comprehensive income for the year 210,326 (293,310 )
Dividends paid - (58,331)
As at 31 March 2025 312,994 842,252
12. Related Party Transactions
During the year, a director purchased an Investment Property from the company for £195,000.
The transaction was conducted at Market Value and approved by the board.
No amounts remain outstanding at the year-end.
The director is considered a related party by virtue of their position.
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