Henry Spencer & Sons Limited Filleted accounts for Companies House (small and micro)

Henry Spencer & Sons Limited Filleted accounts for Companies House (small and micro)

HENRY SPENCER & SONS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06689826
Henry Spencer & Sons Limited
Filleted Unaudited Abridged Financial Statements
30 April 2022
Henry Spencer & Sons Limited
Abridged Financial Statements
Year Ended 30 April 2022
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Henry Spencer & Sons Limited
Abridged Statement of Financial Position
30 April 2022
2022
2021
Note
£
£
£
Fixed Assets
Tangible assets
5
4,313
5,610
Current Assets
Debtors
1,568
6,089
Cash at bank and in hand
74,284
99,972
--------
---------
75,852
106,061
Creditors: amounts falling due within one year
34,155
37,708
--------
---------
Net Current Assets
41,697
68,353
--------
--------
Total Assets Less Current Liabilities
46,010
73,963
Provisions
848
1,095
--------
--------
Net Assets
45,162
72,868
--------
--------
Capital and Reserves
Called up share capital
6
10
10
Profit and loss account
45,152
72,858
--------
--------
Shareholders Funds
45,162
72,868
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 April 2022 in accordance with Section 444(2A) of the Companies Act 2006.
Henry Spencer & Sons Limited
Abridged Statement of Financial Position (continued)
30 April 2022
These abridged financial statements were approved by the board of directors and authorised for issue on 5 October 2022 , and are signed on behalf of the board by:
Mr I Wilson
Director
Company registration number: 06689826
Henry Spencer & Sons Limited
Notes to the Abridged Financial Statements
Year Ended 30 April 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 212 Crookes, Sheffield, S10 1TG.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is recognised in the profit and loss account when, and to the extent that, the company obtains a right to consideration in exchange for its performance. A right to consideration is obtained when some, but not all, of its contractual obligations have been fulfilled. Where the company has partially performed its contractual obligations, it recognises revenue to the extent that it has obtained the right to consideration through its performance.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and law that have been enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
25% straight line
Fixtures and fittings
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2021: 5 ).
5. Tangible assets
£
Cost
At 1 May 2021
50,163
Additions
665
--------
At 30 April 2022
50,828
--------
Depreciation
At 1 May 2021
44,553
Charge for the year
1,962
--------
At 30 April 2022
46,515
--------
Carrying amount
At 30 April 2022
4,313
--------
At 30 April 2021
5,610
--------
6. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary shares of £ 0.01 each
1,000
10
1,000
10
-------
----
-------
----
7. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2022
2021
£
£
Not later than 1 year
9,600
9,600
Later than 1 year and not later than 5 years
16,200
25,800
--------
--------
25,800
35,400
--------
--------
8. Director's advances, credits and guarantees
There are no director's advances, credits or guarantees requiring disclosure.
9. Related party transactions
The company has taken advantage of exemption conferred by FRS 102 S33.1A, removing the requirement to disclose transactions between group members. The balance outstanding from group companies at 30 April 2022 was £nil (2021: £5,064) Outstanding balances are unsecured and interest free.
10. Controlling party
Henry Spencer & Sons Limited is a 100% subsidiary of Henry Spencer & Sons Lettings Limited , a company incorporated in England.