Sidney Hackett Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00508556 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Sidney Hackett Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

G R Hackett

R Hackett

D H Hackett

SECRETARY:

G R Hackett

REGISTERED OFFICE:

Alexandra House

43 Alexandra Street

Nottinghamshire

NG5 1AY

BUSINESS ADDRESS:

2 Beechcroft Close

South Hykeham

Lincoln

LN6 9NB

REGISTERED NUMBER:

00508556 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sidney Hackett Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sidney Hackett Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sidney Hackett Limited and state those matters that we have agreed to state to the Board of Directors of Sidney Hackett Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sidney Hackett Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sidney Hackett Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Sidney Hackett Limited. You consider that Sidney Hackett Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sidney Hackett Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wright Vigar Limited

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

19 December 2023

FIXED ASSETS

Tangible assets

4

1,924,820

1,926,427

CURRENT ASSETS

Stocks

23,704

37,032

Debtors

5

96,727

382,473

Cash at bank

288,279

80,754

408,710

500,259

CREDITORS

Amounts falling due within one year

6

17,143

46,568

NET CURRENT ASSETS

391,567

453,691

TOTAL ASSETS LESS CURRENT LIABILITIES

2,316,387

2,380,118

PROVISIONS FOR LIABILITIES

167,916

168,221

NET ASSETS

2,148,471

2,211,897

CAPITAL AND RESERVES

Called up share capital

27,060

27,060

Revaluation reserve

7

1,306,498

1,306,498

Retained earnings

814,913

878,339

2,148,471

2,211,897

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 19 December 2023 and were signed on its behalf by:

G R Hackett - Director

1.	STATUTORY INFORMATION

Sidney Hackett 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.

The financial statements have been prepared in sterling which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Tangible assets are initially recorded at cost, and are 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.Adjustments to the carrying amount of an asset as a result of a revaluation is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

1,920,000

29,984

1,949,984

DEPRECIATION

At 1 April 2022

-

23,557

23,557

Charge for year

-

1,607

1,607

At 31 March 2023

-

25,164

25,164

NET BOOK VALUE

At 31 March 2023

1,920,000

4,820

1,924,820

At 31 March 2022

1,920,000

6,427

1,926,427

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

3,477

23,886

Other debtors

93,250

358,587

96,727

382,473

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

1,647

10,296

Taxation and social security

5,060

9,740

Other creditors

10,436

26,532

17,143

46,568

7.

RESERVES

Revaluation

reserve

£

At 1 April 2022

and 31 March 2023

1,306,498

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023

2022

£

£

G R Hackett

Balance outstanding at start of year

264,540

268,215

Amounts advanced

149

7,705

Amounts repaid

(259,564

)

(11,380

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,125

264,540

R Hackett

Balance outstanding at start of year

-

353

Amounts repaid

-

(353

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Interest at a rate of 3% is provided against loans to directors, calculated at each reporting date.