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Registration number: 11249909

Hay Williams Roberts Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

image-name
 

Hay Williams Roberts Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Hay Williams Roberts Limited

Company Information

Directors

Mr R Hay

Mr MJ Walker

Mr B M Walker

Registered office

24 Balmer Cut
Buckingham Industrial Estate
Buckingham
Buckinghamshire
MK18 1UL

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hay Williams Roberts Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hay Williams Roberts Limited for the year ended 31 March 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Hay Williams Roberts Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Hay Williams Roberts Limited and state those matters that we have agreed to state to the Board of Directors of Hay Williams Roberts Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hay Williams Roberts Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hay Williams Roberts Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Hay Williams Roberts Limited. You consider that Hay Williams Roberts Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hay Williams Roberts Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St. John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

25 October 2023

 

Hay Williams Roberts Limited

(Registration number: 11249909)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

825,895

254,341

Current assets

 

Debtors

5

100,552

172,270

Cash at bank and in hand

 

184,644

252,360

 

285,196

424,630

Creditors: Amounts falling due within one year

6

(207,592)

(102,930)

Net current assets

 

77,604

321,700

Total assets less current liabilities

 

903,499

576,041

Creditors: Amounts falling due after more than one year

6

(103,698)

(122,308)

Provisions for liabilities

(2,869)

(2,565)

Net assets

 

796,932

451,168

Capital and reserves

 

Called up share capital

100

100

Retained earnings

796,832

451,068

Shareholders' funds

 

796,932

451,168

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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 October 2023 and signed on its behalf by:
 

 

Hay Williams Roberts Limited

(Registration number: 11249909)
Balance Sheet as at 31 March 2023

.........................................
Mr MJ Walker
Director

 

Hay Williams Roberts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
24 Balmer Cut
Buckingham Industrial Estate
Buckingham
Buckinghamshire
MK18 1UL

These financial statements were authorised for issue by the Board on 25 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hay Williams Roberts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on cost

Fixtures and fittings

25% on cost

Motor vehicles

10% on cost

Freehold property

2% on cost

Improvements to property

10% on cost

Plant and machinery

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Hay Williams Roberts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year, including directors, was 4 (2022 - 3).

 

Hay Williams Roberts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

241,653

650

17,140

259,443

Additions

577,222

4,343

-

581,565

At 31 March 2023

818,875

4,993

17,140

841,008

Depreciation

At 1 April 2022

810

293

3,999

5,102

Charge for the year

7,270

1,027

1,714

10,011

At 31 March 2023

8,080

1,320

5,713

15,113

Carrying amount

At 31 March 2023

810,795

3,673

11,427

825,895

At 31 March 2022

240,843

357

13,141

254,341

Included within the net book value of land and buildings above is £788,679 (2022 - £240,843) in respect of freehold land and buildings and £22,116 (2022 - £Nil) in respect of short leasehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Trade debtors

39,730

45,352

Prepayments

1,144

4,072

Other debtors

59,678

92,832

Directors loan account

-

30,014

 

100,552

172,270

 

Hay Williams Roberts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

7

23,640

23,640

Trade creditors

 

31,857

17,318

VAT Control account

 

17,330

11,524

Corporation tax control

 

91,564

49,017

Other creditors

 

76

76

PAYE and NIC creditor

 

447

441

Accruals

 

957

914

Directors loan account

 

39,041

-

Income in advance

 

2,680

-

 

207,592

102,930

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

103,698

122,308

Creditors include bank loans secured against the freehold property of £95,671 (2022 - £104,278).

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

103,698

122,308

 

Hay Williams Roberts Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

23,640

23,640

8

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Mr MJ Walker

30,012

241,382

(310,435)

(39,041)

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Mr MJ Walker

(18,026)

65,255

(17,217)

30,012

         
       

 

Summary of transactions with other related parties


KLE Plastic Products Limited

A company under common control.

During the year, KLE Plastic Products Limited invoiced the company £1,250 (2022: £1,250) in respect of management charges. The balance due to KLE Plastic Products Limited at the balance sheet date was £4,018 (2022: £3,413).


KLE Plastics & Recycling Limited

A company under common control.

The balance due from KLE Plastics & Recycling Limited at the balance sheet date was £58,595 2022: £92,395).