REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2020 |
|
for |
|
Hudson & Sanders Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2020 |
|
for |
|
Hudson & Sanders Limited |
Hudson & Sanders Limited (Registered number: 04415152) |
|
Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Hudson & Sanders Limited |
|
Company Information |
for the Year Ended 31 March 2020 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
BUSINESS ADDRESS: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
Hudson & Sanders Limited (Registered number: 04415152) |
|
Balance Sheet |
31 March 2020 |
|
2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
( |
) |
|
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) |
|
NET ASSETS/(LIABILITIES) |
|
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
( |
) |
SHAREHOLDERS' FUNDS |
|
( |
) |
Hudson & Sanders Limited (Registered number: 04415152) |
|
Balance Sheet - continued |
31 March 2020 |
|
|
|
|
|
|
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. |
|
|
|
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
|
|
|
|
|
|
|
|
Hudson & Sanders Limited (Registered number: 04415152) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
|
|
1. | STATUTORY INFORMATION |
|
Hudson & Sanders Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | STATEMENT OF COMPLIANCE |
|
|
|
3. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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 |
|
Plant and machinery etc | - |
|
|
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
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. |
|
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments. |
|
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
|
Debt instruments are subsequently measured at amortised cost. |
|
Hudson & Sanders Limited (Registered number: 04415152) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
|
3. | ACCOUNTING POLICIES - continued |
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. |
|
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
|
|
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
|
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
|
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. |
|
4. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
Hudson & Sanders Limited (Registered number: 04415152) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2019 |
|
Additions |
|
Disposals | ( |
) |
At 31 March 2020 |
|
DEPRECIATION |
At 1 April 2019 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 31 March 2020 |
|
NET BOOK VALUE |
At 31 March 2020 |
|
At 31 March 2019 |
|
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2019 |
|
Disposals | ( |
) |
Transfer to ownership | (7,900 | ) |
At 31 March 2020 |
|
DEPRECIATION |
At 1 April 2019 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
Transfer to ownership | (4,567 | ) |
At 31 March 2020 |
|
NET BOOK VALUE |
At 31 March 2020 |
|
At 31 March 2019 |
|
Hudson & Sanders Limited (Registered number: 04415152) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
|
|
|
Included within the above figure for other debtors is a balance of £14,202 (2019 - £1,353) in respect of prepaid expenses, a balance of £120,576 (2019 - £323,461) in respect of accrued income, a balance of £895 (2019 - £9,521) in respect of other debtors, a balance of £138,300 (2019 - £120,538) in respect of tax, and a balance of £354,390 (2019 - £334,463) in respect of a director's loan account balance. |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts (see note 9) |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
Included within the above figure for other creditors is a balance of £32,524 (2019 - £227,359) in respect of accruals, a balance of £nil (2019 - £840) in respect of other creditors, a balance of £1,510 (2019 - £759) in respect of pensions, a balance of £720 (2019 - £2,226) in respect of credit cards, and a balance of £528,054 (2019 - £1,508,248) in respect of loans from other companies. |
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts (see note 9) |
|
|
|
|
Hudson & Sanders Limited (Registered number: 04415152) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
|
9. | LEASING AGREEMENTS |
|
Minimum lease payments fall due as follows: |
|
Hire purchase contracts |
2020 | 2019 |
£ | £ |
Net obligations repayable: |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
Non-cancellable operating | leases |
2020 | 2019 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
At the year end and included within other debtors is a balance owed by the director, Mr D J Speller of £354,390 (2019 - £334,463). |
|
During the year, £68,348 was advanced to the director and the director repaid £48,421. |
|
The maximum amount outstanding during the year was £356,015. |
|
This loan has no fixed repayment terms and is repayable on demand. During the year, interest was charged on the outstanding balance at a market rate. |
|
11. | ULTIMATE CONTROLLING PARTY |
|
The company is under the immediate control of Applied Farming Ltd and ultimate control of Mr D J Speller by virtue of his controlling interest in Applied Farming Ltd. |