Hertfordshire County Council company opts not to publish full financial results

A Hertfordshire County Council company that supplies stationary to private sector organisations has opted not to publish full financial details for 2022/23.

Herts Fullstop known for its provision of stationery, supplies and equipment to schools across the county.

But the council also owns Herts Fullstop Limited, which trades with private sector companies.

In the previous year (2021/22) full accounts filed with Companies House show that Herts Fullstop Limited recorded a turnover of £882,495 – with the company making a £1,645 loss overall.

But financial statements filed with Companies House for 2022/23 do not include the turnover, profits or losses recorded by the company.

Herts Fullstop Limited is permitted to do this because it falls within the remit of a “small company”.

To be a “small company” it has to meet two of three criteria, which are turnover of £10.2m or less, £5.1m or less on the balance sheet or employ less than 50 people.

And according to the financial statement submitted to Companies House: “The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

“These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.”

A spokesperson for Hertfordshire County Council has told the Local Democracy Reporting Service: “Herts FullStop Limited is a small company with small turnover, so is only required to submit ‘filleted’ accounts to Companies House.

“These accounts are externally audited and show that the company is solvent and continues to trade as a going concern.

“The company directors believe that publishing a full set of accounts, when this isn’t required, would be an unnecessary administrative burden.”

Previous accounts filed with Companies House show that in 2020/21 the company recorded a turnover of £866,826 – with a profit of £25,212.

In 2017/18 the company had previously had a turnover in excess of £3m – recording a profit of £29,943.

Accounts for the latest financial year (2023/24) are not yet due to be filed.

According to the county council revenue levels through trading with private sector organisations can vary significantly.

Council officials also point to the challenging environment due to competition from other providers and the financial pressures faced by schools.