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

H.G. MOORE & SON LIMITED - Company Information

8 false false false false false false false false false true false false false false false false 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 403,307 3,899 26,327 380,879 380,879 403,307 xbrli:pure xbrli:shares iso4217:GBP 00737475 2022-04-01 2023-03-31 00737475 2023-03-31 00737475 2022-03-31 00737475 2021-04-01 2022-03-31 00737475 2022-03-31 00737475 core:PlantMachinery 2022-04-01 2023-03-31 00737475 core:MotorVehicles 2022-04-01 2023-03-31 00737475 bus:Director1 2022-04-01 2023-03-31 00737475 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 00737475 core:LandBuildings core:LongLeaseholdAssets 2022-03-31 00737475 core:PlantMachinery 2022-03-31 00737475 core:MotorVehicles 2022-03-31 00737475 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 00737475 core:LandBuildings core:LongLeaseholdAssets 2023-03-31 00737475 core:PlantMachinery 2023-03-31 00737475 core:MotorVehicles 2023-03-31 00737475 core:LandBuildings core:LongLeaseholdAssets 2022-04-01 2023-03-31 00737475 core:WithinOneYear 2023-03-31 00737475 core:WithinOneYear 2022-03-31 00737475 core:AfterOneYear 2023-03-31 00737475 core:AfterOneYear 2022-03-31 00737475 core:LandBuildings core:OwnedOrFreeholdAssets 2022-03-31 00737475 core:ShareCapital 2023-03-31 00737475 core:ShareCapital 2022-03-31 00737475 core:RevaluationReserve 2023-03-31 00737475 core:RevaluationReserve 2022-03-31 00737475 core:RetainedEarningsAccumulatedLosses 2023-03-31 00737475 core:RetainedEarningsAccumulatedLosses 2022-03-31 00737475 core:CostValuation core:Non-currentFinancialInstruments 2022-03-31 00737475 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-03-31 00737475 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2023-03-31 00737475 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 00737475 core:Non-currentFinancialInstruments 2023-03-31 00737475 core:Non-currentFinancialInstruments 2022-03-31 00737475 core:LandBuildings core:LongLeaseholdAssets 2022-03-31 00737475 core:PlantMachinery 2022-03-31 00737475 core:MotorVehicles 2022-03-31 00737475 bus:SmallEntities 2022-04-01 2023-03-31 00737475 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00737475 bus:FullAccounts 2022-04-01 2023-03-31 00737475 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 00737475 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00737475 core:OfficeEquipment 2022-04-01 2023-03-31 00737475 core:OfficeEquipment 2022-03-31 00737475 core:OfficeEquipment 2023-03-31 00737475 core:AfterOneYear 2022-04-01 2023-03-31

COMPANY REGISTRATION NUMBER: 00737475

H.G. Moore & Son Limited

Unaudited financial statements

31 March 2023

H.G. Moore & Son Limited

Statement of financial position

31 March 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Tangible assets	5	1,510,667	1,281,551
Investments	6	380,879	403,307
		-----------	-----------
		1,891,546	1,684,858

Current assets

Stocks		10,000	10,000
Debtors	7	156,864	174,688
Cash at bank and in hand		160,455	129,559
		---------	---------
		327,319	314,247

Creditors: Amounts falling due within one year	8	( 208,205)		( 198,278)
		---------		---------
Net current assets			119,114		115,969
			-----------		-----------
Total assets less current liabilities			2,010,660		1,800,827

Creditors: Amounts falling due after more than one year	9		( 162,706)		( 90,500)

Provisions

Taxation including deferred tax	( 130,416)	( 103,057)
	-----------	-----------
Net assets	1,717,538	1,607,270
	-----------	-----------

Capital and reserves

Called up share capital	60	60
Revaluation reserve	361,103	361,103
Profit and loss account	1,356,375	1,246,107
	-----------	-----------
Shareholders funds	1,717,538	1,607,270
	-----------	-----------

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 income and retained earnings has not been delivered.

For the year ending 31 March 2023 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 2023

These financial statements were approved by the board of directors and authorised for issue on 2 November 2023 , 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 2023

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

The yard 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 are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

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.

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.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 (2022: 9 ).

5. Tangible assets

	Land and property	Investment property	Plant and machinery	Motor vehicles	Office equipment and furniture	Total
	£	£	£	£	£	£
Cost
At 1 April 2022	1,412	920,000	64,675	881,432	23,199	1,890,718
Additions	–	173,897	–	111,000	1,357	286,254
Disposals	–	–	–	( 74,020)	–	( 74,020)
	------	-----------	-------	---------	-------	-----------
At 31 March 2023	1,412	1,093,897	64,675	918,412	24,556	2,102,952
	------	-----------	-------	---------	-------	-----------
Depreciation
At 1 April 2022	–	–	16,021	579,484	13,662	609,167
Charge for the year	–	–	4,865	49,093	1,024	54,982
Disposals	–	–	–	( 71,864)	–	( 71,864)
	------	-----------	-------	---------	-------	-----------
At 31 March 2023	–	–	20,886	556,713	14,686	592,285
	------	-----------	-------	---------	-------	-----------
Carrying amount
At 31 March 2023	1,412	1,093,897	43,789	361,699	9,870	1,510,667
	------	-----------	-------	---------	-------	-----------
At 31 March 2022	1,412	920,000	48,654	301,948	9,537	1,281,551
	------	-----------	-------	---------	-------	-----------

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.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Land and property
	£
At 31 March 2023
Aggregate cost	665,735
Aggregate depreciation	–
	---------
Carrying value	665,735
	---------

At 31 March 2022
Aggregate cost	491,838
Aggregate depreciation	–
	---------
Carrying value	491,838
	---------

6. Investments

	Investments
	£
Cost
At 1 April 2022	403,307
Additions	3,899
Revaluations	( 26,327)
	---------
At 31 March 2023	380,879
	---------
Impairment
At 1 April 2022 and 31 March 2023	–
	---------

Carrying amount
At 31 March 2023	380,879
	---------
At 31 March 2022	403,307
	---------

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

7. Debtors

	2023	2022
	£	£
Trade debtors	127,543	120,419
Other debtors	29,321	54,269
	---------	---------
	156,864	174,688
	---------	---------

8. Creditors: Amounts falling due within one year

	2023	2022
	£	£
Other loans	45,440	27,000
Trade creditors	27,947	76,348
Social security and other taxes	5,954	7,138
Other creditors	128,864	87,792
	---------	---------
	208,205	198,278
	---------	---------

The other loans falling due within one year are secured by a legal charge over the property. Included within creditors due other creditors is a hire purchase agreement of £33,660 (2022: £Nil) secured against the asset to which it relates.

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

	2023	2022
	£	£
Other loans	132,706	60,500
Other creditors	30,000	30,000
	---------	-------
	162,706	90,500
	---------	-------

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:

	2023	2022
	£	£
Not later than 1 year	4,782	6,375
	------	------