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REGISTERED NUMBER: NI013335 (Northern Ireland)















HAYES (PROPERTIES) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023






HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HAYES (PROPERTIES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Carol Hayes
Derek Hayes
James Hayes
Malcolm Hayes
Trevor Hayes





REGISTERED OFFICE: 15 Cabragh Road
Dungannon
Co. Tyrone
BT70 3AH





REGISTERED NUMBER: NI013335 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Tangible assets 5 3,527,548 3,311,864
Investment property 6 332,052 332,052
3,859,600 3,643,916

CURRENT ASSETS
Inventories 7 269,820 285,828
Receivables: amounts falling due within
one year

8

16,007

41,223
Cash at bank - 79,701
285,827 406,752
PAYABLES
Amounts falling due within one year 9 (570,672 ) (661,665 )
NET CURRENT LIABILITIES (284,845 ) (254,913 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,574,755

3,389,003

PAYABLES
Amounts falling due after more than
one year

10

(317,318

)

(370,003

)

PROVISIONS FOR LIABILITIES 11 (39,213 ) (21,473 )
NET ASSETS 3,218,224 2,997,527

CAPITAL AND RESERVES
Called up share capital 12 2 2
Revaluation reserve 13 795,465 795,465
Retained earnings 2,422,757 2,202,060
SHAREHOLDERS' FUNDS 3,218,224 2,997,527

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

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.

HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2023 and were signed on its behalf by:





James Hayes - Director


HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Hayes (Properties) Limited is a private company, limited by shares , registered in Northern Ireland. 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 (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue
Revenue in respect of caravan sales is recognised upon the delivery of goods to the customer. Revenue in respect of property and site rentals is recognised upon the invoicing of rental amounts due.

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Land and buildings freehold Nil
Plant and machinery 25% Reducing Balance
Motor vehicles 25% Reducing Balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuations use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in Income Statement.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.


HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

3. ACCOUNTING POLICIES - continued
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company

Cash and cash equivalents
Cash and cash equivalents include cash in hand and deposits held at call with banks and bank
overdrafts. Bank overdrafts are shown within current liabilities.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£ £ £ £
COST
At 1 February 2022 3,189,284 767,684 8,863 3,965,831
Additions 237,359 11,961 - 249,320
At 31 January 2023 3,426,643 779,645 8,863 4,215,151
DEPRECIATION
At 1 February 2022 - 650,772 3,195 653,967
Charge for year - 32,219 1,417 33,636
At 31 January 2023 - 682,991 4,612 687,603
NET BOOK VALUE
At 31 January 2023 3,426,643 96,654 4,251 3,527,548
At 31 January 2022 3,189,284 116,912 5,668 3,311,864

HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 February 2022
and 31 January 2023 332,052
NET BOOK VALUE
At 31 January 2023 332,052
At 31 January 2022 332,052

7. INVENTORIES
2023 2022
£ £
Inventories 269,820 285,828

8. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade receivables 1,096 9,481
VAT - 18,762
Prepayments and accrued income 14,911 12,980
16,007 41,223

9. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 86,243 5,432
Trade payables 28,929 117,152
Taxation and social security 72,364 51,744
Other payables 383,136 487,337
570,672 661,665

10. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2023 2022
£ £
Bank loans 317,318 370,003

11. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 39,213 21,473

Deferred tax
£
Balance at 1 February 2022 21,473
Provided during year 17,740
Balance at 31 January 2023 39,213

HAYES (PROPERTIES) LIMITED (REGISTERED NUMBER: NI013335)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary 2 2 2

13. RESERVES
Revaluation
reserve
£
At 1 February 2022
and 31 January 2023 795,465

14. RELATED PARTY TRANSACTIONS

At the year end an amount of £83,885 (2022 - £60,915) was owing to the directors from the company.