Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr G Haddy Mr R Haddy 29/11/1999 14 August 2023 The principal activity of the Company during the financial year was that of a haulage contractor. 00634697 2023-03-31 00634697 bus:Director2 2023-03-31 00634697 2022-03-31 00634697 core:CurrentFinancialInstruments 2023-03-31 00634697 core:CurrentFinancialInstruments 2022-03-31 00634697 core:Non-currentFinancialInstruments 2023-03-31 00634697 core:Non-currentFinancialInstruments 2022-03-31 00634697 core:ShareCapital 2023-03-31 00634697 core:ShareCapital 2022-03-31 00634697 core:RetainedEarningsAccumulatedLosses 2023-03-31 00634697 core:RetainedEarningsAccumulatedLosses 2022-03-31 00634697 core:LandBuildings 2022-03-31 00634697 core:PlantMachinery 2022-03-31 00634697 core:Vehicles 2022-03-31 00634697 core:FurnitureFittings 2022-03-31 00634697 core:LandBuildings 2023-03-31 00634697 core:PlantMachinery 2023-03-31 00634697 core:Vehicles 2023-03-31 00634697 core:FurnitureFittings 2023-03-31 00634697 bus:OrdinaryShareClass1 2023-03-31 00634697 bus:OrdinaryShareClass2 2023-03-31 00634697 bus:OrdinaryShareClass3 2023-03-31 00634697 2022-04-01 2023-03-31 00634697 bus:FullAccounts 2022-04-01 2023-03-31 00634697 bus:SmallEntities 2022-04-01 2023-03-31 00634697 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00634697 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00634697 bus:Director1 2022-04-01 2023-03-31 00634697 bus:Director2 2022-04-01 2023-03-31 00634697 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 00634697 core:PlantMachinery 2022-04-01 2023-03-31 00634697 core:Vehicles 2022-04-01 2023-03-31 00634697 core:FurnitureFittings 2022-04-01 2023-03-31 00634697 2021-04-01 2022-03-31 00634697 core:LandBuildings 2022-04-01 2023-03-31 00634697 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 00634697 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 00634697 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 00634697 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 00634697 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 00634697 bus:OrdinaryShareClass3 2022-04-01 2023-03-31 00634697 bus:OrdinaryShareClass3 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00634697 (England and Wales)

A. R. HADDY & SON LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

A. R. HADDY & SON LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

A. R. HADDY & SON LIMITED

BALANCE SHEET

As at 31 March 2023
A. R. HADDY & SON LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,508,141 1,895,497
2,508,141 1,895,497
Current assets
Debtors
- due within one year 4 680,988 588,641
- due after more than one year 4 3,500 7,700
Cash at bank and in hand 503,162 440,547
1,187,650 1,036,888
Creditors: amounts falling due within one year 5 ( 698,707) ( 454,230)
Net current assets 488,943 582,658
Total assets less current liabilities 2,997,084 2,478,155
Creditors: amounts falling due after more than one year 6 ( 639,169) ( 416,971)
Provision for liabilities ( 387,207) ( 351,127)
Net assets 1,970,708 1,710,057
Capital and reserves
Called-up share capital 7 3,500 3,500
Profit and loss account 1,967,208 1,706,557
Total shareholder's funds 1,970,708 1,710,057

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of A. R. HADDY & SON LIMITED (registered number: 00634697) were approved and authorised for issue by the Board of Directors on 14 August 2023. They were signed on its behalf by:

Mr G Haddy
Director
Mr R Haddy
Director
A. R. HADDY & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
A. R. HADDY & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

A. R. HADDY & SON LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Polmarkyn Farm, Trerulefoot, Saltash, PL12 5BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 15 % reducing balance
Vehicles 20 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset or, if lower, the present value of the minimum lease payments as determined at the inception of the lease and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 30 28

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 April 2022 395,174 222,220 2,711,078 46,011 3,374,483
Additions 68,833 0 1,038,934 3,087 1,110,854
Disposals 0 0 ( 400,218) 0 ( 400,218)
At 31 March 2023 464,007 222,220 3,349,794 49,098 4,085,119
Accumulated depreciation
At 01 April 2022 9,203 115,231 1,314,485 40,067 1,478,986
Charge for the financial year 8,590 16,048 343,582 1,754 369,974
Disposals 0 0 ( 271,982) 0 ( 271,982)
At 31 March 2023 17,793 131,279 1,386,085 41,821 1,576,978
Net book value
At 31 March 2023 446,214 90,941 1,963,709 7,277 2,508,141
At 31 March 2022 385,971 106,989 1,396,593 5,944 1,895,497

4. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Trade debtors 606,924 491,712
Prepayments 68,853 52,893
Corporation tax 0 29,209
Other debtors 5,211 14,827
680,988 588,641
Debtors: amounts falling due after more than one year
Other debtors 3,500 7,700

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 183,559 116,660
Amounts owed to directors 74,049 57,353
Accruals 4,367 7,135
Other taxation and social security 63,693 43,460
Obligations under finance leases and hire purchase contracts (secured) 369,081 216,924
Other creditors 3,958 12,698
698,707 454,230

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Obligations under finance leases and hire purchase contracts (secured) 639,169 416,971

The hire purchase and finance lease liabilities are secured against the assets to which they relate.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,850 Ordinary A shares of £ 1.00 each 1,850 1,850
1,350 Ordinary B shares of £ 1.00 each 1,350 1,350
300 Ordinary C shares of £ 1.00 each 300 300
3,500 3,500

8. Ultimate controlling party

Parent Company:

A. R. Haddy & Son Holdings Limited
Polmarkyn Farm, Trerulefoot, Saltash, Cornwall, United Kingdom, PL12 5BG