H Byham & Son Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01146136 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

H BYHAM & SON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Byham

Mrs J M Byham

N J Byham

H J Byham

SECRETARY:

Mrs J M Byham

REGISTERED OFFICE:

89 Ballingdon Street

Sudbury

Suffolk

CO10 2DA

REGISTERED NUMBER:

01146136 (England and Wales)

ACCOUNTANTS:

RE Group Accountants Limited

Chartered Certified Accountants

The Maltings

Rosemary Lane

Halstead

Essex

CO9 1HZ

FIXED ASSETS

Tangible assets

4

72,123

68,446

Investment property

5

1,120,000

1,120,000

1,192,123

1,188,446

CURRENT ASSETS

Stocks

12,177

10,695

Debtors

6

72,017

58,496

Cash at bank and in hand

137,261

185,193

221,455

254,384

CREDITORS

Amounts falling due within one year

7

188,534

179,742

NET CURRENT ASSETS

32,921

74,642

TOTAL ASSETS LESS CURRENT LIABILITIES

1,225,044

1,263,088

PROVISIONS FOR LIABILITIES

111,295

110,602

NET ASSETS

1,113,749

1,152,486

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Revaluation reserve

9

425,414

425,414

Retained earnings

687,335

726,072

SHAREHOLDERS' FUNDS

1,113,749

1,152,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 30 June 2023 and were signed on its behalf by:

N J Byham - Director

1.	STATUTORY INFORMATION

H Byham & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in sterling which is the functional currency of the company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

All the company's turnover was derived in the United Kingdom.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

2% on cost

Fixtures, fittings & equipment

-

15% - 25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in revaluation reserve.

Stocks

Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

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 laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Debtors and creditors receivable / payable within one year

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Short

fittings

Motor

leasehold

& equipment

vehicles

Totals

£

£

£

£

COST

At 1 April 2022

50,286

91,731

156,059

298,076

Additions

-

-

25,250

25,250

Disposals

-

-

(52,730

)

(52,730

)

At 31 March 2023

50,286

91,731

128,579

270,596

DEPRECIATION

At 1 April 2022

37,723

85,226

106,681

229,630

Charge for year

1,005

1,228

14,617

16,850

Eliminated on disposal

-

-

(48,007

)

(48,007

)

At 31 March 2023

38,728

86,454

73,291

198,473

NET BOOK VALUE

At 31 March 2023

11,558

5,277

55,288

72,123

At 31 March 2022

12,563

6,505

49,378

68,446

5.	INVESTMENT PROPERTY

Investment properties are included at a valuation of £1,120,000 (2022: £1,120,000). The valuation at open market value was carried out by Mr N Byham and Mr H Byham, directors of the company, on 31 March 2023.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

60,924

54,003

Other debtors

11,093

4,493

72,017

58,496

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

92,846

72,837

Taxation and social security

14,152

30,026

Other creditors

81,536

76,879

188,534

179,742

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

370

Ordinary A

£1

370

370

370

Ordinary B

£1

370

370

30

Ordinary C

£1

30

30

30

Ordinary D

£1

30

30

100

Ordinary E

£1

100

100

100

Ordinary F

£1

100

100

1,000

1,000

9.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

425,414

10.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.