A.v. Hurst & Sons (Fobbing) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01206399 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

A.V. HURST & SONS (FOBBING) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S B Hurst

R A Hurst

G A Nash

L R C Hurst

SECRETARY:

S B Hurst

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

01206399 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

858

652

Investment property

5

5,320,733

5,169,400

5,321,591

5,170,052

CURRENT ASSETS

Debtors

6

13,387

248

Cash at bank

162,223

457,868

175,610

458,116

CREDITORS

Amounts falling due within one year

7

168,984

305,529

NET CURRENT ASSETS

6,626

152,587

TOTAL ASSETS LESS CURRENT LIABILITIES

5,328,217

5,322,639

PROVISIONS FOR LIABILITIES

8

563,390

563,390

NET ASSETS

4,764,827

4,759,249

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

4,764,527

4,758,949

SHAREHOLDERS' FUNDS

4,764,827

4,759,249

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 20 December 2023 and were signed on its behalf by:

S B Hurst - Director

G A Nash - Director

1.	STATUTORY INFORMATION

A.v. Hurst & Sons (Fobbing) 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.

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 represents rents receivable.

Tangible fixed assets

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

Fixtures & fittings

-

20% on reducing balance

Computer equipment

-

25% on cost

Investment property

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& fittings

equipment

Totals

£

£

£

COST

At 1 April 2022

21,963

2,039

24,002

Additions

129

312

441

At 31 March 2023

22,092

2,351

24,443

DEPRECIATION

At 1 April 2022

21,311

2,039

23,350

Charge for year

157

78

235

At 31 March 2023

21,468

2,117

23,585

NET BOOK VALUE

At 31 March 2023

624

234

858

At 31 March 2022

652

-

652

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

5,169,400

Additions

151,333

At 31 March 2023

5,320,733

NET BOOK VALUE

At 31 March 2023

5,320,733

At 31 March 2022

5,169,400

Fair value at 31 March 2023 is represented by:

£

Valuation in 2015

4,056,955

Valuation in 2016

236,000

Valuation in 2017

200,000

Cost

827,778

5,320,733

The company sought a professional and independent valuation of the properties as at 31st March 2017. The directors consider there has been no movement in the fair values up to 31st March 2023.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

13,387

248

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Tax

24,858

31,505

Social security & other taxes

-

1,716

Other creditors & accruals

17,522

28,770

Directors' current accounts

126,604

243,538

168,984

305,529

8.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

563,390

563,390

Deferred

tax

£

Balance at 1 April 2022

563,390

Balance at 31 March 2023

563,390

9.	RETAINED EARNINGS

Investment

Profit and loss

property

reserves

revaluation

Total

Balance brought forward

829,384

3,929,565

4,758,949

Movement in year

5,578

-

5,578

Balance carried forward

£834,962

£3,929,565

£4,764,527