| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| A.G. Hipgrave Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2025 |
| for |
| A.G. Hipgrave Limited |
| A.G. Hipgrave Limited (Registered number: 01411254) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| A.G. Hipgrave Limited |
| Company Information |
| for the Year Ended 31 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit 1 The Cam Centre |
| Wilbury Way |
| Hitchin |
| Hertfordshire |
| SG4 0TW |
| A.G. Hipgrave Limited (Registered number: 01411254) |
| Balance Sheet |
| 31 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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 were approved by the Board of Directors and authorised for issue on |
| A.G. Hipgrave Limited (Registered number: 01411254) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2025 |
| 1. | STATUTORY INFORMATION |
| A.G. Hipgrave Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| The company's principal place of business is 9 Chancerygate Business Centre, Whiteleaf Road, Hemel Hempstead, Hertfordshire, HP3 9HD. |
| 2. | ACCOUNTING POLICIES |
| Statement of compliance |
| Significant judgements and estimates |
| Outside of the construction contracts, which are detailed within turnover, the company has no significant judgements or estimates in preparing the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover comprises the fair value of the consideration receivable for the provision of services and rental income in the ordinary course of the company’s activities. |
| Turnover is shown net of sales/value added tax, returns, rebates and discounts. |
| The company recognises revenue when: |
| The amount of revenue can be reliably measured; |
| it is probable that future economic benefits will flow to the entity; |
| and specific criteria have been met for each of the company's activities. |
| Specifically the company deals with long term contracts and in arriving at a value for these contracts the company uses an estimation of the work undertaken, with reference to costs incurred to date and expected costs, in order to arrive at contract values. The resultant value will be amounts recoverable on contracts, which is included within debtors, or payments received on account, which is included within creditors. |
| Retentions are recognised when due and included within debtors. Where amounts are not considered to be recoverable they are provided for as appropriate, Retentions due to suppliers are accounted for within creditors. |
| A.G. Hipgrave Limited (Registered number: 01411254) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
| Depreciation |
| Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: |
| Asset class Depreciation method and rate |
| Plant and machinery -15% Straight line |
| Motor vehicles - 25% Straight line |
| Office equipment - 33% Straight line |
| No depreciation is provided on freehold buildings. This amounts to a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors this is necessary for the financial statements to give a true and fair view. The cost of the asset is in excess of its carrying value and therefore no depreciation arises. The accounting policy is in accordance with FRS102 Section 1A. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Profit and Loss, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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. |
| A.G. Hipgrave Limited (Registered number: 01411254) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand and call deposits. |
| Trade debtors |
| Trade debtors are amounts due from customers for services performed in the ordinary course of business. |
| Trade debtors are recognised at the transaction price. Amounts are reviewed periodically and where amounts are not considered recoverable, amounts are written off net of recoverable vat to the profit and loss account. |
| The company accounts for retentions held within debtors, these are recorded at recoverable amounts and reviewed periodically. |
| Stock |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. |
| Work in progress held includes property being renovated for sale. These are held at cost. |
| Trade creditors |
| 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. |
| Trade creditors are recognised at the transaction price. |
| Share capital |
| Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. |
| Dividends |
| Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| A.G. Hipgrave Limited (Registered number: 01411254) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| At the balance sheet date the total net book value of assets held under Hire Purchase agreements was £129,199 (2024: £110,403). These agreements are secured on the assets concerned. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Other debtors include customer retentions of £52,303 (2024: £nil). |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| A.G. Hipgrave Limited (Registered number: 01411254) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2025 |
| 8. | SECURED DEBTS |
| The total mortgage outstanding of £147,369 (2023: £163,767), including due in less than one year £17,351 and more than one year £130,018, is secured on all freehold and leasehold properties owned by the business. A debenture is held against the company in favour of National Westminster Bank PLC over all assets of the company. |
| The company acquired a loan under the Coronavirus Business Interruption Loan Scheme (CBILS) in 2021, delivered by the British Business Bank, the loan has been provided by National Westminster Bank PLC. Of this £49,992 is classified as current with the remaining £54,198 classified as a long term liability. |
| Hire purchase contract liabilities totalling £118,636 are secured on the assets concerned. |
| 9. | OTHER FINANCIAL COMMITMENTS |
| The total amount of financial commitments not included in the balance sheet is £4,200 (2024 - £4,200). The company leases business premises which can be terminated at 6 months notice. The monthly rent is £700 per month. |
| 10. | RELATED PARTY DISCLOSURES |
| At the balance sheet date the company was owed £58,461 by the Directors (2024: £547 owed to). There are no terms for repayment interest is charged at 2.25% per annum. |