R Humphreys & Sons Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 06573041 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2023

for

R Humphreys & Sons Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

Mr T Humphreys

SECRETARY:

Mr R Humphreys

REGISTERED OFFICE:

Adeilad St David's Building

Lombard Street

Porthmadog

Gwynedd

LL49 9AP

REGISTERED NUMBER:

06573041 (England and Wales)

ACCOUNTANTS:

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

FIXED ASSETS

Tangible assets

4

532

666

CURRENT ASSETS

Stocks

4,000

4,000

Debtors

5

1,704

8,249

5,704

12,249

CREDITORS

Amounts falling due within one year

6

13,449

10,517

NET CURRENT (LIABILITIES)/ASSETS

(7,745

)

1,732

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,213

)

2,398

PROVISIONS FOR LIABILITIES

101

127

NET (LIABILITIES)/ASSETS

(7,314

)

2,271

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

(7,434

)

2,151

(7,314

)

2,271

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31 May 2024 and were signed by:

Mr T Humphreys - Director

1.	STATUTORY INFORMATION

R Humphreys & Sons Ltd 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 director has considered the basis for the preparation of the financial statements and considers the going concern basis to be the most suitable. The director will continue to give financial support to the company for twelve months from the date of signing these financial statements. Therefore, the accounts have been prepared on the assumption that the company is thus able to carry on its business as a going concern.

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 the cost less estimated residual value of each asset over its estimated useful life.

Plant & machinery - 20% reducing balance

Computer equipment - 20% reducing balance

Assets are stated at their cost prices less accumulated depreciation and less any amounts recognised in respect of impairment.

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2023

and 31 December 2023

14,281

DEPRECIATION

At 1 January 2023

13,615

Charge for year

134

At 31 December 2023

13,749

NET BOOK VALUE

At 31 December 2023

532

At 31 December 2022

666

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

£

Trade debtors

1,518

4,391

Other debtors

186

3,858

1,704

8,249

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.23

31.12.22

£

£

Bank loans and overdrafts

8,236

9,459

Trade creditors

235

89

Taxation and social security

(156

)

(131

)

Other creditors

5,134

1,100

13,449

10,517

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23

31.12.22

£

£

Mr R Humphreys

Balance outstanding at start of year

2,770

3,685

Amounts advanced

452

4,397

Amounts repaid

(3,222

)

(5,312

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

2,770

8.	RELATED PARTY DISCLOSURES

During the year the director accumulated funds in the form of an in-credit director's loan account. By the year-end, the balance of this loan account stood at £3,890 owing to (2022 - £2,770 owing from) the director.

No dividends were paid to the directors during the year, as was the case in 2022.

The following reproduces the text of the report prepared for the director 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 Director 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 R Humphreys & Sons Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet 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 director of R Humphreys & Sons Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R Humphreys & Sons Ltd and state those matters that we have agreed to state to the director of R Humphreys & Sons Ltd 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 R Humphreys & Sons Ltd and its director for our work or for this report.

It is your duty to ensure that R Humphreys & Sons Ltd 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 R Humphreys & Sons Ltd. You consider that R Humphreys & Sons Ltd 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 R Humphreys & Sons Ltd. 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.

Dunn & Ellis Cyf

Chartered Accountants

Adeilad St David's Building

Stryd Lombard Street

Porthmadog

Gwynedd

LL49 9AP

Date: .............................................