H. & C. WHITEHEAD LIMITED

H. & C. WHITEHEAD LIMITED - Company Information

2022-08-012023-07-312023-07-31false00352679H. & C. WHITEHEAD LIMITED2023-12-06iso4217:GBPxbrli:pure003526792022-08-01003526792023-07-31003526792022-08-012023-07-31003526792021-08-01003526792022-07-31003526792021-08-012022-07-3100352679bus:SmallEntities2022-08-012023-07-3100352679bus:AuditExempt-NoAccountantsReport2022-08-012023-07-3100352679bus:FullAccounts2022-08-012023-07-3100352679bus:PrivateLimitedCompanyLtd2022-08-012023-07-3100352679core:WithinOneYear2023-07-3100352679core:AfterOneYear2023-07-3100352679core:WithinOneYear2022-07-3100352679core:AfterOneYear2022-07-3100352679core:ShareCapital2023-07-3100352679core:SharePremium2023-07-3100352679core:RevaluationReserve2023-07-3100352679core:OtherReservesSubtotal2023-07-3100352679core:RetainedEarningsAccumulatedLosses2023-07-3100352679core:ShareCapital2022-07-3100352679core:SharePremium2022-07-3100352679core:RevaluationReserve2022-07-3100352679core:OtherReservesSubtotal2022-07-3100352679core:RetainedEarningsAccumulatedLosses2022-07-3100352679core:LandBuildings2023-07-3100352679core:PlantMachinery2023-07-3100352679core:Vehicles2023-07-3100352679core:FurnitureFittings2023-07-3100352679core:OfficeEquipment2023-07-3100352679core:NetGoodwill2023-07-3100352679core:IntangibleAssetsOtherThanGoodwill2023-07-3100352679core:ListedExchangeTraded2023-07-3100352679core:UnlistedNon-exchangeTraded2023-07-3100352679core:LandBuildings2022-07-3100352679core:PlantMachinery2022-07-3100352679core:Vehicles2022-07-3100352679core:FurnitureFittings2022-07-3100352679core:OfficeEquipment2022-07-3100352679core:NetGoodwill2022-07-3100352679core:IntangibleAssetsOtherThanGoodwill2022-07-3100352679core:ListedExchangeTraded2022-07-3100352679core:UnlistedNon-exchangeTraded2022-07-3100352679core:LandBuildings2022-08-012023-07-3100352679core:PlantMachinery2022-08-012023-07-3100352679core:Vehicles2022-08-012023-07-3100352679core:FurnitureFittings2022-08-012023-07-3100352679core:OfficeEquipment2022-08-012023-07-3100352679core:NetGoodwill2022-08-012023-07-3100352679core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3100352679core:ListedExchangeTraded2022-08-012023-07-3100352679core:UnlistedNon-exchangeTraded2022-08-012023-07-3100352679core:MoreThanFiveYears2022-08-012023-07-3100352679core:Non-currentFinancialInstruments2023-07-3100352679core:Non-currentFinancialInstruments2022-07-3100352679dpl:CostSales2022-08-012023-07-3100352679dpl:DistributionCosts2022-08-012023-07-3100352679core:LandBuildings2022-08-012023-07-3100352679core:PlantMachinery2022-08-012023-07-3100352679core:Vehicles2022-08-012023-07-3100352679core:FurnitureFittings2022-08-012023-07-3100352679core:OfficeEquipment2022-08-012023-07-3100352679dpl:AdministrativeExpenses2022-08-012023-07-3100352679core:NetGoodwill2022-08-012023-07-3100352679core:IntangibleAssetsOtherThanGoodwill2022-08-012023-07-3100352679dpl:GroupUndertakings2022-08-012023-07-3100352679dpl:ParticipatingInterests2022-08-012023-07-3100352679dpl:GroupUndertakingscore:ListedExchangeTraded2022-08-012023-07-3100352679core:ListedExchangeTraded2022-08-012023-07-3100352679dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-08-012023-07-3100352679core:UnlistedNon-exchangeTraded2022-08-012023-07-3100352679dpl:CostSales2021-08-012022-07-3100352679dpl:DistributionCosts2021-08-012022-07-3100352679core:LandBuildings2021-08-012022-07-3100352679core:PlantMachinery2021-08-012022-07-3100352679core:Vehicles2021-08-012022-07-3100352679core:FurnitureFittings2021-08-012022-07-3100352679core:OfficeEquipment2021-08-012022-07-3100352679dpl:AdministrativeExpenses2021-08-012022-07-3100352679core:NetGoodwill2021-08-012022-07-3100352679core:IntangibleAssetsOtherThanGoodwill2021-08-012022-07-3100352679dpl:GroupUndertakings2021-08-012022-07-3100352679dpl:ParticipatingInterests2021-08-012022-07-3100352679dpl:GroupUndertakingscore:ListedExchangeTraded2021-08-012022-07-3100352679core:ListedExchangeTraded2021-08-012022-07-3100352679dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-08-012022-07-3100352679core:UnlistedNon-exchangeTraded2021-08-012022-07-3100352679core:NetGoodwill2023-07-3100352679core:IntangibleAssetsOtherThanGoodwill2023-07-3100352679core:LandBuildings2023-07-3100352679core:PlantMachinery2023-07-3100352679core:Vehicles2023-07-3100352679core:FurnitureFittings2023-07-3100352679core:OfficeEquipment2023-07-3100352679core:AfterOneYear2023-07-3100352679core:WithinOneYear2023-07-3100352679core:ListedExchangeTraded2023-07-3100352679core:UnlistedNon-exchangeTraded2023-07-3100352679core:ShareCapital2023-07-3100352679core:SharePremium2023-07-3100352679core:RevaluationReserve2023-07-3100352679core:OtherReservesSubtotal2023-07-3100352679core:RetainedEarningsAccumulatedLosses2023-07-3100352679core:NetGoodwill2022-07-3100352679core:IntangibleAssetsOtherThanGoodwill2022-07-3100352679core:LandBuildings2022-07-3100352679core:PlantMachinery2022-07-3100352679core:Vehicles2022-07-3100352679core:FurnitureFittings2022-07-3100352679core:OfficeEquipment2022-07-3100352679core:AfterOneYear2022-07-3100352679core:WithinOneYear2022-07-3100352679core:ListedExch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Registered Number
00352679
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

H. & C. WHITEHEAD LIMITED

Company Information
for the year from 1 August 2022 to 31 July 2023


Directors	ADAMS, Harriet Elizabeth
	PRATT, Simon Damian Cooper
	WHITEHEAD, David


Registered Address	Prospect Works Bradford Road
	Bailiff Bridge
	Brighouse
	HD6 4DJ


Registered Number	00352679 (England and Wales)

H. & C. WHITEHEAD LIMITED

Statement of Financial Position
31 July 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	6		1,294,209		1,227,005
			1,294,209		1,227,005
Current assets
Stocks		52,500		169,933
Debtors	11	3,596,406		3,336,817
Cash at bank and on hand		77,840		63,230
		3,726,746		3,569,980
Creditors amounts falling due within one year	12	(246,791)		(306,464)
Net current assets (liabilities)			3,479,955		3,263,516
Total assets less current liabilities			4,774,164		4,490,521
Provisions for liabilities	13		(319,782)		(305,036)
Net assets			4,454,382		4,185,485
Capital and reserves
Called up share capital			38,497		38,497
Other reserves			11,503		11,503
Profit and loss account			4,404,382		4,135,485
Shareholders' funds			4,454,382		4,185,485

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 6 December 2023, and are signed on its behalf by:

WHITEHEAD, David
Director
Registered Company No. 00352679

H. & C. WHITEHEAD LIMITED

Notes to the Financial Statements
for the year ended 31 July 2023

1.	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The ultimate parent undertaking is H & C Whitehead (Holdings) Limited, a company registered in England & Wales and under the control of D Whitehead. The financial statements of H & C Whitehead (Holdings) Limited are available to the public and may be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

Statutory information

The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The ultimate parent undertaking is H & C Whitehead (Holdings) Limited, a company registered in England & Wales and under the control of D Whitehead.

The financial statements of H & C Whitehead (Holdings) Limited are available to the public and may be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff, CF14 3UZ.

2.	Principal activities
	The principal activity of the company is that of specialist textile finishers.

3.	Basis of measurement used in financial statements
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

4.	Accounting policies

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. 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.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

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.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Property, plant and equipment policy

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Plant and machinery	10
	Vehicles	5
	Office Equipment	4

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

Stocks policy

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale.  The impairment loss is recognised immediately in the Income Statement

	Taxation policy
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Research and development policy
	In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Research and development policy

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

	Government grants and other government assistance policy
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

Government grants and other government assistance policy

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

	Leases policy
	Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

	Employee benefits policy
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits policy

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	Valuation of financial instruments policy
	The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

	Going concern
	The directors believe that the company has adequate resources to continue in operational existence for the foreseeable future. The company continues to have the support of the directors, shareholders and creditors and therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

5.	Employee information


		2023		2022
	Average number of employees during the year	18		19

6.	Property, plant and equipment

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 August 22	4,957,615	105,618	55,732	5,118,965
Additions	379,771	34,722	-	414,493
At 31 July 23	5,337,386	140,340	55,732	5,533,458
Depreciation and impairment
At 01 August 22	3,759,258	78,261	54,441	3,891,960
Charge for year	335,984	10,160	1,145	347,289
At 31 July 23	4,095,242	88,421	55,586	4,239,249
Net book value
At 31 July 23	1,242,144	51,919	146	1,294,209
At 31 July 22	1,198,357	27,357	1,291	1,227,005

7.	Description of financial commitments other than capital commitments
	At 31 July 2023 the Company has future minimum lease payments due under non-cancellable operating leases for each of the following periods: Not later than 1 year £Nil (2022 - £2,435)

8.	Contingent liabilities, including financial effect, uncertainties and possible reimbursement
	H & C Whitehead Limited is party to a cross guarantee with H & C Whitehead (Holdings) Limited up to an amount of £5,000,000 (2022 - £2,650,000). At the year end the potential liability under the cross guarantee is £5,000,000 (2022 - £250,000).

9.	Off balance sheet pension commitments
	The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £13,146 (2022 - £15,484).

10.	Description of nature of transactions and balances with related parties
	The Company has taken advantage of the exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with the entities which are part of the Group, since 100% of the voting rights in the Company are controlled within the Group. Included within other debtors, is an amount of £4,000 (2022 - £3,000 creditor) owed from D Whitehead. The balance is interest free.

10.

Description of nature of transactions and balances with related parties

The Company has taken advantage of the exemption contained in Section 33 of FRS 102 "Related Party Disclosures" from disclosing transactions with the entities which are part of the Group, since 100% of the voting rights in the Company are controlled within the Group.

Included within other debtors, is an amount of £4,000 (2022 - £3,000 creditor) owed from D Whitehead. The balance is interest free.

11.	Debtors

	2023	2022
	£	£
Trade debtors / trade receivables	324,020	293,376
Amounts owed by group undertakings	3,262,252	3,037,743
Other debtors	4,820	820
Prepayments and accrued income	5,314	4,878
Total	3,596,406	3,336,817


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

12.	Creditors within one year

	2023	2022
	£	£
Trade creditors / trade payables	130,118	73,033
Taxation and social security	91,905	191,566
Other creditors	1,903	4,903
Accrued liabilities and deferred income	22,865	36,962
Total	246,791	306,464


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Holiday pay accrual: A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Holiday pay accrual:
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

13.	Provisions for liabilities

	2023	2022
	£	£
Net deferred tax liability (asset)	260,000	222,613
Other provisions	59,782	82,423
Total	319,782	305,036