AR Hefford Limited Filleted accounts for Companies House (small and micro)

AR HEFFORD LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06107445

AR HEFFORD LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

28 February 2023

AR HEFFORD LIMITED

STATEMENT OF FINANCIAL POSITION

28 February 2023

	2023		2022
Note	£	£	£	£

Fixed assets

Intangible assets	5	4,000	5,000
Tangible assets	6	2,678	3,341
		--------	--------
		6,678	8,341

Current assets

Stocks	3,200	4,440
Cash at bank and in hand	14,460	14,757
	---------	---------
	17,660	19,197

Creditors: amounts falling due within one year	7	19,530		25,808
		---------		---------
Net current liabilities			1,870		6,611
			--------		--------
Total assets less current liabilities			4,808		1,730
			--------		--------
Net assets			4,808		1,730
			--------		--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	4,806	1,728
	--------	--------
Shareholders funds	4,808	1,730
	--------	--------

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 28 February 2023 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 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 financial statements .

AR HEFFORD LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

28 February 2023

These financial statements were approved by the board of directors and authorised for issue on 29 November 2023 , and are signed on behalf of the board by:

Mr A R Hefford
Director

Company registration number: 06107445

AR HEFFORD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7B Lakeland Business Park, Lamplugh Road, Cockermouth, CA13 0QT.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Corporation tax

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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

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.

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 & machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance

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.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 March 2022 and 28 February 2023	20,000
	---------
Amortisation
At 1 March 2022	15,000
Charge for the year	1,000
	---------
At 28 February 2023	16,000
	---------
Carrying amount
At 28 February 2023	4,000
	---------
At 28 February 2022	5,000
	---------

6. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 March 2022 and 28 February 2023	1,110	17,554	18,664
	--------	---------	---------
Depreciation
At 1 March 2022	1,004	14,319	15,323
Charge for the year	16	647	663
	--------	---------	---------
At 28 February 2023	1,020	14,966	15,986
	--------	---------	---------
Carrying amount
At 28 February 2023	90	2,588	2,678
	--------	---------	---------
At 28 February 2022	106	3,235	3,341
	--------	---------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Social security and other taxes	5,884	5,350
Other creditors	13,646	20,458
	---------	---------
	19,530	25,808
	---------	---------