Haywoods Trimmings Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13455287 (England and Wales)

Haywoods Trimmings Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

JE Coulter

REGISTERED OFFICE:

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

REGISTERED NUMBER:

13455287 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

FIXED ASSETS

Intangible assets

4

-

500

Tangible assets

5

675

700

675

1,200

CURRENT ASSETS

Debtors

6

2,699

4,431

Cash at bank

41,735

47,657

44,434

52,088

CREDITORS

Amounts falling due within one year

7

13,359

24,403

NET CURRENT ASSETS

31,075

27,685

TOTAL ASSETS LESS CURRENT LIABILITIES

31,750

28,885

CREDITORS

Amounts falling due after more than one year

8

(11,750

)

(17,150

)

PROVISIONS FOR LIABILITIES

9

(128

)

(133

)

NET ASSETS

19,872

11,602

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

19,871

11,601

19,872

11,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 February 2024 and were signed by:

JE Coulter - Director

1.	STATUTORY INFORMATION

Haywoods Trimmings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The amounts in the financial statements have been rounded to the nearest £1.

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 2021, this amount will be written off over its useful life of 3 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 1 (2022 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2022

and 30 November 2023

1,000

AMORTISATION

At 1 December 2022

500

Charge for year

500

At 30 November 2023

1,000

NET BOOK VALUE

At 30 November 2023

-

At 30 November 2022

500

On 31 August 2021, the company acquired the trade and certain assets of Haywoods Limited for total consideration of £2,500.

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 December 2022

1,000

Additions

250

At 30 November 2023

1,250

DEPRECIATION

At 1 December 2022

300

Charge for year

275

At 30 November 2023

575

NET BOOK VALUE

At 30 November 2023

675

At 30 November 2022

700

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

2,698

2,553

Called up share capital not paid

1

1

Prepayments

-

1,877

2,699

4,431

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other loans

5,400

5,400

Payments on account

674

674

Trade creditors

97

2,958

Corporation tax

2,350

9,671

VAT

1,760

2,641

Directors' current accounts

78

-

Accrued expenses

3,000

3,059

13,359

24,403

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Other loans - 1-2 years

11,750

17,150

9.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

Accelerated capital allowances

128

133

Deferred tax

£

Balance at 1 December 2022

133

Credit to Statement of Income and Retained Earnings during year

(5

)

Balance at 30 November 2023

128

10.	RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by the director.