H.G. Moore & Son Limited Filleted accounts for Companies House (small and micro)

H.G. MOORE & SON LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00737475

H.G. Moore & Son Limited

Unaudited financial statements

31 March 2021

H.G. Moore & Son Limited

Statement of financial position

31 March 2021

	2021		2020
Note	£	£	£	£

Fixed assets

Tangible assets	5	1,242,411	1,156,980
Investments	6	390,646	294,031
		-----------	-----------
		1,633,057	1,451,011

Current assets

Stocks		9,750	9,275
Debtors	7	236,827	224,422
Cash at bank and in hand		93,676	49,467
		---------	---------
		340,253	283,164

Creditors: Amounts falling due within one year	8	( 194,580)		( 175,626)
		---------		---------
Net current assets			145,673		107,538
			-----------		-----------
Total assets less current liabilities			1,778,730		1,558,549

Creditors: Amounts falling due after more than one year	9		( 117,500)		( 81,166)

Provisions

Taxation including deferred tax	( 96,911)	( 74,186)
	-----------	-----------
Net assets	1,564,319	1,403,197
	-----------	-----------

Capital and reserves

Called up share capital	60	60
Revaluation reserve	361,103	361,103
Profit and loss account	1,203,156	1,042,034
	-----------	-----------
Shareholders funds	1,564,319	1,403,197
	-----------	-----------

These 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 statement of comprehensive income has not been delivered.

For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

H.G. Moore & Son Limited

Statement of financial position (continued)

31 March 2021

These financial statements were approved by the board of directors and authorised for issue on 20 December 2021 , and are signed on behalf of the board by:

D H G Moore

Director

Company registration number: 00737475

H.G. Moore & Son Limited

Notes to the financial statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The trading address and registered office address and is Four Ashes, Walsham Le Willows, Bury St Edmunds, Suffolk, IP31 3BZ.

2. Statement of compliance

These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery	-	10% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment and furniture	-	10% reducing balance

Included in the yard, held as freehold property is land which is not depreciated in accordance with accounting convention.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed and property investments and are measured at fair value with changes in fair value being recognised in profit or loss.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

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 statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of employees during the year was 8 (2020: 8 ).

5. Tangible assets

	Yard	Plant and machinery	Motor vehicles	Office equipment and furniture	Total
	£	£	£	£	£
Cost
At 1 April 2020	921,412	34,480	686,432	22,111	1,664,435
Additions	–	–	156,250	–	156,250
Disposals	–	( 12,317)	–	–	( 12,317)
	---------	-------	---------	-------	-----------
At 31 March 2021	921,412	22,163	842,682	22,111	1,808,368
	---------	-------	---------	-------	-----------
Depreciation
At 1 April 2020	–	22,458	473,330	11,667	507,455
Charge for the year	–	908	65,906	1,047	67,861
Disposals	–	( 9,359)	–	–	( 9,359)
	---------	-------	---------	-------	-----------
At 31 March 2021	–	14,007	539,236	12,714	565,957
	---------	-------	---------	-------	-----------
Carrying amount
At 31 March 2021	921,412	8,156	303,446	9,397	1,242,411
	---------	-------	---------	-------	-----------
At 31 March 2020	921,412	12,022	213,102	10,444	1,156,980
	---------	-------	---------	-------	-----------

Tangible assets held at valuation

The investment properties of the company are held at fair value, and are measured by the directors at each reporting date.

6. Investments

	Investments
	£
Cost
At 1 April 2020	294,031
Additions	3,653
Revaluations	92,962
	---------
At 31 March 2021	390,646
	---------
Impairment
At 1 April 2020 and 31 March 2021	–
	---------

Carrying amount
At 31 March 2021	390,646
	---------
At 31 March 2020	294,031
	---------

The financial investments of the company are held at fair value, with a valuation undertaken at each reporting date.

7. Debtors

	2021	2020
	£	£
Trade debtors	194,949	182,612
Other debtors	41,878	41,810
	---------	---------
	236,827	224,422
	---------	---------

8. Creditors: Amounts falling due within one year

	2021	2020
	£	£
Other loans	68,960	47,753
Trade creditors	31,394	36,687
Social security and other taxes	4,877	7,494
Other creditors	89,349	83,692
	---------	---------
	194,580	175,626
	---------	---------

The other loans falling due within one year are secured by a legal charge over the property.

9. Creditors: Amounts falling due after more than one year

	2021	2020
	£	£
Other loans	87,500	51,166
Other creditors	30,000	30,000
	---------	-------
	117,500	81,166
	---------	-------

The other loans falling due after one year are secured by a legal charge over the property.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2021	2020
	£	£
Not later than 1 year	6,375	12,285
	------	-------