Registration number:
|
Registration number:
|
|
T R Handley Limited
Contents
|
Accountants' Report |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
|
|
Non-statutory pages |
|
|
Detailed Profit and Loss Account |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
T R Handley Limited
for the Year Ended 31 December 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of T R Handley Limited for the year ended 31 December 2025 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of T R Handley Limited, as a body, in accordance with the terms of our engagement letter dated 4 May 2023. Our work has been undertaken solely to prepare for your approval the accounts of T R Handley Limited and state those matters that we have agreed to state to the Board of Directors of T R Handley Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than T R Handley Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that T R Handley Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of T R Handley Limited. You consider that T R Handley Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of T R Handley Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Chartered Accountants
Cornmarket
PENRITH
CA11 7HW
T R Handley Limited
(Registration number: 02191215)
Balance Sheet as at 31 December 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Allotted, called up and fully paid share capital |
|
|
|
|
Capital redemption reserve |
|
|
|
|
Profit and loss account |
|
|
|
|
Total equity |
|
|
T R Handley Limited
(Registration number: 02191215)
Balance Sheet as at 31 December 2025 (continued)
For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
.........................................
G R Handley
Company secretary and director
T R Handley Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.
T R Handley Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible 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 |
|
Land and buildings |
2% straight line |
|
Plant and machinery |
20% reducing balance |
|
Motor vehicles |
25% reducing balance for the first 4 years of life, 15% thereafter |
|
Fixtures, fittings and office equipment |
15% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
T R Handley Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
Stocks
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.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.
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 to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the 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.
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.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
T R Handley Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Tangible assets |
|
Land and buildings |
Plant and machinery |
Motor vehicles |
Fixtures, fittings and office equipment |
Total |
|
|
Cost or valuation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
( |
( |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
( |
( |
- |
( |
|
At 31 December 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
|
|
|
|
|
At 31 December 2024 |
|
|
|
|
|
|
Debtors |
|
2025 |
2024 |
|
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
|
Creditors |
T R Handley Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
- |
|
|
Trade creditors |
|
|
|
|
Taxation and social security |
- |
|
|
|
Corporation tax liability |
57,505 |
194,028 |
|
|
Other creditors |
|
|
|
|
|
|
|
Loans and borrowings |
|
2025 |
2024 |
|
|
Current loans and borrowings |
||
|
Other borrowings |
|
- |
T R Handley Limited
Detailed Profit and Loss Account for the Year Ended 31 December 2025
|
2025 |
2024 |
|
|
Turnover |
3,289,337 |
3,998,658 |
|
Cost of sales |
(2,347,322) |
(3,052,428) |
|
Gross profit |
942,015 |
946,230 |
|
Administrative expenses |
||
|
Employment costs |
(189,806) |
(107,564) |
|
Establishment costs |
(19,418) |
(17,931) |
|
General administrative expenses |
(47,176) |
(64,950) |
|
Finance charges |
(322) |
(267) |
|
Depreciation costs |
(131,982) |
(177,546) |
|
(388,704) |
(368,258) |
|
|
Operating profit |
553,311 |
577,972 |
|
Other interest receivable and similar income |
52,871 |
59,324 |
|
Profit before tax |
606,182 |
637,296 |
T R Handley Limited
Detailed Profit and Loss Account for the Year Ended 31 December 2025 (continued)
|
2025 |
2024 |
|
|
Turnover |
||
|
Sales |
3,289,337 |
3,998,658 |
|
3,289,337 |
3,998,658 |
|
2025 |
2024 |
|
|
Cost of sales |
||
|
Opening stock |
85,412 |
156,375 |
|
Purchases |
11,936 |
257,545 |
|
Closing stock |
(107,729) |
(85,412) |
|
Wages and salaries |
707,371 |
735,810 |
|
Staff NIC (Employers) |
79,739 |
71,079 |
|
Staff pensions (Defined contribution) |
16,210 |
17,214 |
|
Staff training |
3,662 |
4,835 |
|
Subcontractors |
421,440 |
728,545 |
|
Fuel, oil and tyres |
833,989 |
855,393 |
|
Tank and trailer hire |
1,000 |
- |
|
Motor expenses |
190,013 |
198,931 |
|
Licences and insurance |
101,331 |
108,633 |
|
Tolls |
2,948 |
3,480 |
|
2,347,322 |
3,052,428 |
|
2025 |
2024 |
|
|
Employment costs |
||
|
Directors remuneration |
66,806 |
43,964 |
|
Directors pensions (Defined contribution) |
123,000 |
63,600 |
|
189,806 |
107,564 |
|
2025 |
2024 |
|
|
Establishment costs |
||
|
Rates and water |
13,059 |
12,811 |
|
Light, heat and power |
6,359 |
5,120 |
|
19,418 |
17,931 |
T R Handley Limited
Detailed Profit and Loss Account for the Year Ended 31 December 2025 (continued)
|
2025 |
2024 |
|
|
General administrative expenses |
||
|
Repairs and maintenance |
7,548 |
8,210 |
|
Telephone and fax |
4,449 |
5,496 |
|
Stationery and postage |
1,802 |
3,346 |
|
Trade subscriptions |
2,891 |
2,829 |
|
Sundry expenses |
9,974 |
12,427 |
|
Accountancy fees |
12,445 |
14,395 |
|
Legal and professional fees |
8,067 |
18,247 |
|
47,176 |
64,950 |
|
2025 |
2024 |
|
|
Finance charges |
||
|
Bank charges |
322 |
267 |
|
322 |
267 |
|
2025 |
2024 |
|
|
Depreciation costs |
||
|
Depreciation of land and buildings |
5,228 |
2,967 |
|
Depreciation of plant and machinery |
6,107 |
7,588 |
|
Depreciation of fixtures, fittings and office equipment |
1,782 |
1,877 |
|
Depreciation of motor vehicles |
126,060 |
164,090 |
|
(Profit)/loss on disposal of tangible fixed assets |
(7,195) |
1,024 |
|
131,982 |
177,546 |
|
2025 |
2024 |
|
|
Other interest receivable and similar income |
||
|
Bank interest receivable |
52,601 |
58,935 |
|
Other interest receivable |
270 |
389 |
|
52,871 |
59,324 |