The Hutson Motor Company Ltd - Accounts to registrar (filleted) - small 22.3
The Hutson Motor Company Ltd - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| FOR |
| THE HUTSON MOTOR COMPANY LTD |
| THE HUTSON MOTOR COMPANY LTD (REGISTERED NUMBER: 02007723) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| THE HUTSON MOTOR COMPANY LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| THE HUTSON MOTOR COMPANY LTD (REGISTERED NUMBER: 02007723) |
| BALANCE SHEET |
| 31 MARCH 2022 |
| 2022 | 2021 |
| 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 |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 HUTSON MOTOR COMPANY LTD (REGISTERED NUMBER: 02007723) |
| BALANCE SHEET - continued |
| 31 MARCH 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| THE HUTSON MOTOR COMPANY LTD (REGISTERED NUMBER: 02007723) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 1. | STATUTORY INFORMATION |
| The Hutson Motor Company Ltd is a |
| The company's trading address can also be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in Sterling (£). |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover represents fair value consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes from the stock and manufacture of parts and panels for Jaguar and MG cars. Turnover is recognised when invoiced. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Going concern |
| The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. However, the validity of the going concern is dependent upon the continued support of the holding company. |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| THE HUTSON MOTOR COMPANY LTD (REGISTERED NUMBER: 02007723) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2021 |
| Additions |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| Cost or valuation at 31 March 2022 is represented by: |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| Valuation in 1988 | 225,000 | 153,336 | 26,656 | 404,992 |
| THE HUTSON MOTOR COMPANY LTD (REGISTERED NUMBER: 02007723) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
| 2022 | 2021 |
| £ | £ |
| Cost | 151,501 | 151,501 |
| Aggregate depreciation | 91,350 | 91,350 |
| Value of land in freehold land and buildings | 16,501 | 16,501 |
| Freehold land and buildings were valued on an open market basis on 1 April 1988 by Eddisons, Valuers of Leeds . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 April 2021 |
| Transfer to P & L account | (1,470 | ) |
| At 31 March 2022 |
| THE HUTSON MOTOR COMPANY LTD (REGISTERED NUMBER: 02007723) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 8. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr M Hutson by virtue of his family's controlling interest in the equity share capital of the company. |