Company Registration No. 10746148 (England and Wales)
H & M Valve Company Ltd
Unaudited filleted accounts
for the year ended 31 December 2021
H & M Valve Company Ltd
Unaudited filleted accounts
Contents
H & M Valve Company Ltd
Company Information
for the year ended 31 December 2021
Directors
John Keighley
Martin Greenhalgh
Company Number
10746148 (England and Wales)
Registered Office
77 Fox Street
Stockport
Cheshire
SK3 9JY
England
Accountants
Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
H & M Valve Company Ltd
Statement of financial position
as at
31 December 2021
Cash at bank and in hand
16,431
20,569
Creditors: amounts falling due within one year
(104,040)
(11,951)
Net current assets
37,122
35,363
Total assets less current liabilities
37,258
35,635
Provisions for liabilities
Called up share capital
198
198
Share premium
19,602
19,602
Profit and loss account
17,432
15,783
Shareholders' funds
37,232
35,583
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2022 and were signed on its behalf by
John Keighley
Director
Company Registration No. 10746148
H & M Valve Company Ltd
Notes to the Accounts
for the year ended 31 December 2021
H & M Valve Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 10746148. The registered office is 77 Fox Street, Stockport, Cheshire, SK3 9JY, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
H & M Valve Company Ltd
Notes to the Accounts
for the year ended 31 December 2021
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
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Debtors: amounts falling due within one year
2021
2020
Trade debtors
118,398
24,841
Accrued income and prepayments
1,315
1,303
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Creditors: amounts falling due within one year
2021
2020
Trade creditors
5,954
228
Taxes and social security
28,928
11,133
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Share capital
2021
2020
Allotted, called up and fully paid:
198 Ordinary shares of £1 each
198
198
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Average number of employees
During the year the average number of employees was 2 (2020: 2).