HABICO LIMITED

2023-01-012023-12-312023-12-31false02790879HABICO LIMITED2024-03-0146900iso4217:GBPxbrli:pure027908792023-01-01027908792023-12-31027908792023-01-012023-12-31027908792022-01-01027908792022-12-31027908792022-01-012022-12-3102790879bus:SmallEntities2023-01-012023-12-3102790879bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3102790879bus:FullAccounts2023-01-012023-12-3102790879bus:PrivateLimitedCompanyLtd2023-01-012023-12-3102790879core:WithinOneYear2023-12-3102790879core:AfterOneYear2023-12-3102790879core:WithinOneYear2022-12-3102790879core:AfterOneYear2022-12-3102790879core:ShareCapital2023-12-3102790879core:SharePremium2023-12-3102790879core:RevaluationReserve2023-12-3102790879core:OtherReservesSubtotal2023-12-3102790879core:RetainedEarningsAccumulatedLosses2023-12-3102790879core:ShareCapital2022-12-3102790879core:SharePremium2022-12-3102790879core:RevaluationReserve2022-12-3102790879core:OtherReservesSubtotal2022-12-3102790879core:RetainedEarningsAccumulatedLosses2022-12-3102790879core:LandBuildings2023-12-3102790879core:PlantMachinery2023-12-3102790879core:Vehicles2023-12-3102790879core:FurnitureFittings2023-12-3102790879core:OfficeEquipment2023-12-3102790879core:NetGoodwill2023-12-3102790879core:IntangibleAssetsOtherThanGoodwill2023-12-3102790879core:ListedExchangeTraded2023-12-3102790879core:UnlistedNon-exchangeTraded2023-12-3102790879core:LandBuildings2022-12-3102790879core:PlantMachinery2022-12-3102790879core:Vehicles2022-12-3102790879core:FurnitureFittings2022-12-3102790879core:OfficeEquipment2022-12-3102790879core:NetGoodwill2022-12-3102790879core:IntangibleAssetsOtherThanGoodwill2022-12-3102790879core:ListedExchangeTraded2022-12-3102790879core:UnlistedNon-exchangeTraded2022-12-3102790879core:LandBuildings2023-01-012023-12-3102790879core:PlantMachinery2023-01-012023-12-3102790879core:Vehicles2023-01-012023-12-3102790879core:FurnitureFittings2023-01-012023-12-3102790879core:OfficeEquipment2023-01-012023-12-3102790879core:NetGoodwill2023-01-012023-12-3102790879core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102790879core:ListedExchangeTraded2023-01-012023-12-3102790879core:UnlistedNon-exchangeTraded2023-01-012023-12-3102790879core:MoreThanFiveYears2023-01-012023-12-3102790879core:Non-currentFinancialInstruments2023-12-3102790879core:Non-currentFinancialInstruments2022-12-3102790879dpl:CostSales2023-01-012023-12-3102790879dpl:DistributionCosts2023-01-012023-12-3102790879core:LandBuildings2023-01-012023-12-3102790879core:PlantMachinery2023-01-012023-12-3102790879core:Vehicles2023-01-012023-12-3102790879core:FurnitureFittings2023-01-012023-12-3102790879core:OfficeEquipment2023-01-012023-12-3102790879dpl:AdministrativeExpenses2023-01-012023-12-3102790879core:NetGoodwill2023-01-012023-12-3102790879core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102790879dpl:GroupUndertakings2023-01-012023-12-3102790879dpl:ParticipatingInterests2023-01-012023-12-3102790879dpl:GroupUndertakingscore:ListedExchangeTraded2023-01-012023-12-3102790879core:ListedExchangeTraded2023-01-012023-12-3102790879dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-01-012023-12-3102790879core:UnlistedNon-exchangeTraded2023-01-012023-12-3102790879dpl:CostSales2022-01-012022-12-3102790879dpl:DistributionCosts2022-01-012022-12-3102790879core:LandBuildings2022-01-012022-12-3102790879core:PlantMachinery2022-01-012022-12-3102790879core:Vehicles2022-01-012022-12-3102790879core:FurnitureFittings2022-01-012022-12-3102790879core:OfficeEquipment2022-01-012022-12-3102790879dpl:AdministrativeExpenses2022-01-012022-12-3102790879core:NetGoodwill2022-01-012022-12-3102790879core:IntangibleAssetsOtherThanGoodwill2022-01-012022-12-3102790879dpl:GroupUndertakings2022-01-012022-12-3102790879dpl:ParticipatingInterests2022-01-012022-12-3102790879dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012022-12-3102790879core:ListedExchangeTraded2022-01-012022-12-3102790879dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012022-12-3102790879core:UnlistedNon-exchangeTraded2022-01-012022-12-3102790879core:NetGoodwill2023-12-3102790879core:IntangibleAssetsOtherThanGoodwill2023-12-3102790879core:LandBuildings2023-12-3102790879core:PlantMachinery2023-12-3102790879core:Vehicles2023-12-3102790879core:FurnitureFittings2023-12-3102790879core:OfficeEquipment2023-12-3102790879core:AfterOneYear2023-12-3102790879core:WithinOneYear2023-12-3102790879core:ListedExchangeTraded2023-12-3102790879core:UnlistedNon-exchangeTraded2023-12-3102790879core:ShareCapital2023-12-3102790879core:SharePremium2023-12-3102790879core:RevaluationReserve2023-12-3102790879core:OtherReservesSubtotal2023-12-3102790879core:RetainedEarningsAccumulatedLosses2023-12-3102790879core:NetGoodwill2022-12-3102790879core:IntangibleAssetsOtherThanGoodwill2022-12-3102790879core:LandBuildings2022-12-3102790879core:PlantMachinery2022-12-3102790879core:Vehicles2022-12-3102790879core:FurnitureFittings2022-12-3102790879core:OfficeEquipment2022-12-3102790879core:AfterOneYear2022-12-3102790879core:WithinOneYear2022-12-3102790879core:Liste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HABICO LIMITED

Registered Number
02790879
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

HABICO LIMITED

Company Information
for the year from 1 January 2023 to 31 December 2023


Directors	Rachel Boxall
	Sarah Boxall
	Georgina Matthias


Company Secretary	Rachel Boxall


Registered Address	Tong Road Industrial Estate
	Amberley Road
	Leeds
	LS12 4BD


Registered Number	02790879 (England and Wales)

HABICO LIMITED

Balance Sheet as at
31 December 2023

	Notes	2023		2022
		£	£	£	£
Fixed assets
Tangible assets	3		689,040		727,067
			689,040		727,067
Current assets
Stocks	4	1,010,748		1,359,729
Debtors		338,805		342,591
Cash at bank and on hand		772,561		354,842
		2,122,114		2,057,162
Creditors amounts falling due within one year	6	(214,796)		(191,811)
Net current assets (liabilities)			1,907,318		1,865,351
Total assets less current liabilities			2,596,358		2,592,418
Net assets			2,596,358		2,592,418
Capital and reserves
Called up share capital			81,000		81,000
Profit and loss account			2,515,358		2,511,418
Shareholders' funds			2,596,358		2,592,418

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 1 March 2024, and are signed on its behalf by:

Georgina Matthias
Director
Registered Company No. 02790879

HABICO LIMITED

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

1.	Accounting policies

	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.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the rendering of services.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

2.	Average number of employees


		2023		2022
	Average number of employees during the year	26		26

3.	Tangible fixed assets

	Land & buildings	Vehicles	Fixtures & fittings	Total
	£	£	£	£
Cost or valuation
At 01 January 23	890,720	94,608	511,655	1,496,983
Additions	-	-	781	781
Disposals	-	(18,099)	-	(18,099)
At 31 December 23	890,720	76,509	512,436	1,479,665
Depreciation and impairment
At 01 January 23	271,412	53,576	444,928	769,916
Charge for year	14,656	-	9,177	23,833
On disposals	-	(3,124)	-	(3,124)
At 31 December 23	286,068	50,452	454,105	790,625
Net book value
At 31 December 23	604,652	26,057	58,331	689,040
At 31 December 22	619,308	41,032	66,727	727,067

4.	Stocks

	2023	2022
	£	£
Raw materials and consumables	1,010,748	1,359,729
Total	1,010,748	1,359,729

5.	Debtors: amounts due within one year

	2023	2022
	£	£
Trade debtors / trade receivables	300,135	279,998
Other debtors	-	6,915
Prepayments and accrued income	38,670	55,678
Total	338,805	342,591

6.	Creditors: amounts due within one year

	2023	2022
	£	£
Trade creditors / trade payables	40,578	-
Taxation and social security	160,227	168,932
Accrued liabilities and deferred income	13,991	22,879
Total	214,796	191,811