L B Hayes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04606817 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

L B Hayes Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Report of the Accountants

9

DIRECTOR:

L Beaumont-Hayes

SECRETARY:

J Beaumont-Hayes

REGISTERED OFFICE:

Hall Barn

Foggathorpe

Selby

YO8 6PX

REGISTERED NUMBER:

04606817 (England and Wales)

ACCOUNTANTS:

Kaye Middleton & Co

19 Railway Street

Pocklington

York

East Yorkshire

YO42 2QR

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

223,160

256,972

223,161

256,973

CURRENT ASSETS

Stocks

36,747

38,000

Debtors

6

498,091

648,437

Cash at bank and in hand

33,294

8,565

568,132

695,002

CREDITORS

Amounts falling due within one year

7

538,442

594,259

NET CURRENT ASSETS

29,690

100,743

TOTAL ASSETS LESS CURRENT LIABILITIES

252,851

357,716

CREDITORS

Amounts falling due after more than one year

8

(121,935

)

(209,250

)

PROVISIONS FOR LIABILITIES

(11,052

)

(21,296

)

NET ASSETS

119,864

127,170

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

119,764

127,070

SHAREHOLDERS' FUNDS

119,864

127,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 on 30 September 2019 and were signed by:

L Beaumont-Hayes - Director

1.	STATUTORY INFORMATION

L B Hayes 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

188,639

AMORTISATION

At 1 January 2018

and 31 December 2018

188,638

NET BOOK VALUE

At 31 December 2018

1

At 31 December 2017

1

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

186,887

307,109

493,996

Additions

-

90

90

Disposals

(5,000

)

(19,000

)

(24,000

)

At 31 December 2018

181,887

288,199

470,086

DEPRECIATION

At 1 January 2018

13,362

223,662

237,024

Charge for year

3,532

19,359

22,891

Eliminated on disposal

-

(12,989

)

(12,989

)

At 31 December 2018

16,894

230,032

246,926

NET BOOK VALUE

At 31 December 2018

164,993

58,167

223,160

At 31 December 2017

173,525

83,447

256,972

Included in cost of land and buildings is freehold land of £ 150,496 (2017 - £ 150,496 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

164,319

Transfer to ownership

(37,489

)

At 31 December 2018

126,830

DEPRECIATION

At 1 January 2018

109,524

Charge for year

12,034

Transfer to ownership

(30,830

)

At 31 December 2018

90,728

NET BOOK VALUE

At 31 December 2018

36,102

At 31 December 2017

54,795

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

230,676

357,380

Amounts owed by group undertakings

267,415

282,930

Other debtors

-

8,127

498,091

648,437

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

55,699

67,757

Hire purchase contracts

18,076

23,619

Trade creditors

344,738

332,064

Taxation and social security

95,476

119,585

Other creditors

24,453

51,234

538,442

594,259

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

29,535

76,549

Hire purchase contracts

14,471

32,548

Other creditors

77,929

100,153

121,935

209,250

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

4,299

11,569

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdraft

-

47,468

Bank loans

85,234

96,838

85,234

144,306

Bank loan secured by a debenture granted by the company to secure all monies due or to become due to the

bank.

Bank overdraft from Aldermore Bank PLC secured by a fixed and floating charge over the assets of the

company.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mr L Beaumont-Hayes is the controlling party by virtue of his directorship and shareholding.

Included within debtors are amounts owed by Arable Crops Limited and Slick Liquor Limited, these are

companies in which Mr L Beaumont-Hayes is a director and shareholder. At 31 December 2018 £188,637 was

outstanding from Arable Crops Limited and £78,778 was outstanding from Slick Liquor Limited.

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 Statement of Financial Position. 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.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 December 2018 set out on pages one to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Kaye Middleton & Co

19 Railway Street

Pocklington

York

East Yorkshire

YO42 2QR

30 September 2019