Huddersfield Dyeing Company Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04923072 (England and Wales)

Unaudited Financial Statements

for the Period

1st January 2021 to 30th June 2022

for

Huddersfield Dyeing Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T N Gledhill

J M Brook

SECRETARY:

T N Gledhill

REGISTERED OFFICE:

Canal Bank Dyeworks

Canal Street

Leeds Road

Huddersfield

West Yorkshire

HD1 6NY

REGISTERED NUMBER:

04923072 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

130,016

92,145

130,016

92,145

CURRENT ASSETS

Stocks

354,542

427,358

Debtors

6

645,863

596,202

Cash at bank and in hand

43,138

50,644

1,043,543

1,074,204

CREDITORS

Amounts falling due within one year

7

673,652

556,247

NET CURRENT ASSETS

369,891

517,957

TOTAL ASSETS LESS CURRENT LIABILITIES

499,907

610,102

CREDITORS

Amounts falling due after more than one year

8

-

(50,000

)

PROVISIONS FOR LIABILITIES

(24,703

)

(17,508

)

NET ASSETS

475,204

542,594

CAPITAL AND RESERVES

Called up share capital

10

1,500

1,500

Share premium

30,255

30,255

Capital redemption reserve

502

502

Retained earnings

442,947

510,337

SHAREHOLDERS' FUNDS

475,204

542,594

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2022.

The members have not required the Company to obtain an audit of its financial statements for the period ended 30th June 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 29th November 2022 and were signed on its behalf by:

T N Gledhill - Director

1.	STATUTORY INFORMATION

Huddersfield Dyeing Company 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 represents the fair value, excluding value added tax, of sales made during the year. In addition, revenue recognised from uninvoiced work done at the year end date is included based on the stage of completeness of such work.

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 rates calculated to write of the cost less residual value of each asset over its expected useful life, as follows:

Plant and machinery - 2 to 10 years straight line per annum

Fixtures and fittings - 2 to 10 years straight line per annum

Motor vehicles - 25% straight line per annum

Government grants

Government grants claimed by the company in respect of Covid-19 are recognised as income in the profit and loss account in the period to which they relate.

Grants received in respect of capital projects are netted off the cost of any asset where the terms of the grant state that the grant is only contingent on making the initial capital payment. Other grants contingent on factors which affect more than one financial year are matched over the contingency period.

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

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are recognised at amortised cost with changes recognised in the income statement.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 period was 31 (2020 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2021

and 30th June 2022

746,347

AMORTISATION

At 1st January 2021

and 30th June 2022

746,347

NET BOOK VALUE

At 30th June 2022

-

At 31st December 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2021

577,760

Additions

133,197

Disposals

(16,954

)

At 30th June 2022

694,003

DEPRECIATION

At 1st January 2021

485,615

Charge for period

89,493

Eliminated on disposal

(11,121

)

At 30th June 2022

563,987

NET BOOK VALUE

At 30th June 2022

130,016

At 31st December 2020

92,145

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

31.12.20

£

£

Trade debtors

585,092

565,073

Other debtors

60,771

31,129

645,863

596,202

Trade debtors includes £495,722 (2020 £512,983) which is subject to a debt factoring arrangement, funds advanced against these debts at 31st December 2021 amounted to £415,053 (2020 £114,484). The funds advanced against trade debtors are secured on the debts administered by the debt factors. In accordance with Financial Reporting Standard Number 5, separate presentation has been adopted.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

31.12.20

£

£

Trade creditors

141,275

216,251

Taxation and social security

24,295

109,024

Other creditors

508,082

230,972

673,652

556,247

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

31.12.20

£

£

Bank loans

-

50,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.22

31.12.20

£

£

HSBC Invoice Finance (UK) Ltd

415,053

114,484

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

31.12.18

31.12.17

Number:

Class

Nominal value

£

£

450

Ordinary A

£1

450

450

499

Ordinary B

£1

499

499

500

Ordinary C

£1

500

500

50

Ordinary D

£1

50

50

1

Ordinary E

£1

1

1

1,500

1,500

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Huddersfield Dyeing Holdings Limited.

There is no ultimate controlling party.