William Howard & Son (Stockport) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01169475 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2023

for

WILLIAM HOWARD & SON (STOCKPORT) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr L Wichers

Mrs C Wichers

SECRETARY:

Mrs C Wichers

REGISTERED OFFICE:

Howard Buildings

Christie Street

Stockport

Cheshire

SK1 4LR

REGISTERED NUMBER:

01169475 (England and Wales)

ACCOUNTANTS:

BTMR Limited

Century Buildings

14 St Mary's Parsonage

Manchester

M3 2DF

BANKERS:

Virgin Money

31 Princess Street

Stockport

SK1 1RE

FIXED ASSETS

Tangible assets

4

7,513

9,898

CURRENT ASSETS

Stocks

250

250

Debtors

5

18,824

14,854

Cash at bank

28

8,984

19,102

24,088

CREDITORS

Amounts falling due within one year

6

32,411

30,466

NET CURRENT LIABILITIES

(13,309

)

(6,378

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(5,796

)

3,520

CREDITORS

Amounts falling due after more than one year

7

1,698

4,458

NET LIABILITIES

(7,494

)

(938

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(7,496

)

(940

)

(7,494

)

(938

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 January 2024 and were signed on its behalf by:

Mr L Wichers - Director

1.	STATUTORY INFORMATION

William Howard & Son (Stockport) 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.

Turnover

Turnover is accounted for as revenue when, and to the extent that, the company obtains a right to consideration in exchange for its performance of its obligations under the sales contract with the customer. The amount reported as revenue is the fair value of the right to consideration - usually the price specified in the contractual arrangement net of discounts and net of VAT, and after any allowance for credit risk and other uncertainties.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 June 2022

and 31 May 2023

13,206

13,333

12,000

38,539

DEPRECIATION

At 1 June 2022

12,947

12,694

3,000

28,641

Charge for year

39

96

2,250

2,385

At 31 May 2023

12,986

12,790

5,250

31,026

NET BOOK VALUE

At 31 May 2023

220

543

6,750

7,513

At 31 May 2022

259

639

9,000

9,898

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade debtors

17,131

12,833

Other debtors

1,693

2,021

18,824

14,854

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Bank loans and overdrafts

6,097

2,760

Trade creditors

2,320

6,627

Taxation and social security

4,888

5,421

Other creditors

19,106

15,658

32,411

30,466

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.23

31.5.22

£

£

Bank loans

1,698

4,458

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr L and Mrs C Wichers as directors and shareholders of the company.

9.	BASIS OF PREPARATION

The financial statements have been prepared on a going concern basis, the applicability of which is dependent upon the continued support of its director and shareholders. At the balance sheet date, the company had net liabilities of £7,494 (£938, 2022). In the opinion of the director, the company has the support of its shareholders for the foreseeable future and it is therefore appropriate to adopt the going concern basis.