Hanningfield Process Systems Limited - Accounts to registrar (filleted) - small 22.3
Hanningfield Process Systems Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 |
| FOR |
| HANNINGFIELD PROCESS SYSTEMS LIMITED |
| HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HANNINGFIELD PROCESS SYSTEMS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Suite 16,Neals Corner |
| 2 Bath Road |
| Hounslow |
| Middlesex |
| TW3 3HJ |
| HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306) |
| BALANCE SHEET |
| 31 AUGUST 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investments | 6 |
| CURRENT ASSETS |
| Stocks | 7 | ( |
) |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 1. | STATUTORY INFORMATION |
| Hanningfield Process Systems Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Hanningfield Process Systems Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated 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. |
| 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 |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| 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. |
| HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| Goodwill |
| Purchased goodwill is amortised on a straight-line basis over its estimated life of ten years. |
| Hire purchase and leased assets |
| Assets held under finance leases and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease. All other leases are regarded as operating leases and the payments made under them are charged to profit and loss account on a straight line basis over the lease term. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 September 2021 |
| and 31 August 2022 |
| AMORTISATION |
| At 1 September 2021 |
| and 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 September 2021 |
| Additions |
| At 31 August 2022 |
| DEPRECIATION |
| At 1 September 2021 |
| Charge for year |
| At 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2021 |
| Additions |
| At 31 August 2022 |
| DEPRECIATION |
| At 1 September 2021 |
| Charge for year |
| At 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 September 2021 |
| Transfer to ownership | (14,358 | ) |
| At 31 August 2022 |
| DEPRECIATION |
| At 1 September 2021 |
| Transfer to ownership | (6,473 | ) |
| At 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| 6. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 September 2021 |
| and 31 August 2022 |
| NET BOOK VALUE |
| At 31 August 2022 |
| At 31 August 2021 |
| On 13th March 2015, the company acquired a 100% holding ( 1 ordinary share of 1$ Australian ) in Hanningfield Process Systems (Asia Pacific) PTY ltd shown in Investment in Subsidiary at £0.50 cost |
| The company adddress is Unit3 , 160 The Mill Road, Pullenvale, QLD 4069, Australia.. |
| On 24th April 2015, the company acquired a 100% holding (2500 ordinary shares of 1$ USA) in |
| Hanningfield Process Systems ( North America ) LLC shown in investment in subsdidiary at £ 1738.52 cost. |
| The company address is 7931 Magnum Farm Road, Rougemont , NC 27572 USA. |
| 7. | STOCKS |
| Stock includes |
| 2022 | 2021 |
| Closing Stock | 395,911 | 296,941 |
| Closing Work in progress | (265,244 | ) | (497,585 | ) |
------------ | ------------ |
| (130,667 | ) | (200,644 | ) |
| ======= | ======= |
| Closing stock comprises Stock, Machines, Parts and Raw materials of £395,911. Work in progress comprises Materials, Labour and overheads used to date, less deposits received . Work in Progress is £ (265,244) |
| HANNINGFIELD PROCESS SYSTEMS LIMITED (REGISTERED NUMBER: 02791306) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2022 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Hire purchase contracts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Credit Card | 10,964 | 9,125 |
| Pension fund | 5,017 | 4,555 |
| Directors' current accounts | 40,000 | - |
| Accrued expenses |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Other loans - 1-2 years |
| Hire purchase contracts |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1.00 | 37,478 | 37,478 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2021 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 August 2022 |