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REGISTERED NUMBER: 03950088 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Hampson Composites Ltd

Hampson Composites Ltd (Registered number: 03950088)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hampson Composites Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Mr G Entwistle
Mrs K E Entwistle
Mr T P Entwistle
Mr S G Entwistle
Mr N A Entwistle



SECRETARY: Mrs K E Entwistle



REGISTERED OFFICE: Kevan Pilling House
1 Myrtle Street
Bolton
BL1 3AH



REGISTERED NUMBER: 03950088 (England and Wales)



ACCOUNTANTS: Haywoods
Kevan Pilling House
1 Myrtle Street
Bolton
Lancashire
BL1 3AH



BANKERS: National Westminster
24 Deansgate
Bolton
BL1 1BN



SOLICITORS: Keoghs
2 The Parklands
Bolton
BL6 4SE

Hampson Composites Ltd (Registered number: 03950088)

Balance Sheet
31 January 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 473,824 435,275

CURRENT ASSETS
Stocks 17,258 24,543
Debtors 5 379,841 420,532
Cash at bank and in hand 206,585 10,587
603,684 455,662
CREDITORS
Amounts falling due within one year 6 (325,721 ) (299,764 )
NET CURRENT ASSETS 277,963 155,898
TOTAL ASSETS LESS CURRENT
LIABILITIES

751,787

591,173

CREDITORS
Amounts falling due after more than one
year

7

(56,308

)

(40,833

)

PROVISIONS FOR LIABILITIES (89,877 ) (82,520 )
NET ASSETS 605,602 467,820

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 8 368,285 368,285
Retained earnings 237,316 99,534
SHAREHOLDERS' FUNDS 605,602 467,820

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.

Hampson Composites Ltd (Registered number: 03950088)

Balance Sheet - 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 25 October 2023 and were signed on its behalf by:





Mr G Entwistle - Director


Hampson Composites Ltd (Registered number: 03950088)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Hampson Composites Ltd 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

Hampson Composites Ltd (Registered number: 03950088)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 February 2022 906,659 134,277 - 1,040,936
Additions - 21,505 36,280 57,785
At 31 January 2023 906,659 155,782 36,280 1,098,721
DEPRECIATION
At 1 February 2022 514,331 91,330 - 605,661
Charge for year 499 9,667 9,070 19,236
At 31 January 2023 514,830 100,997 9,070 624,897
NET BOOK VALUE
At 31 January 2023 391,829 54,785 27,210 473,824
At 31 January 2022 392,328 42,947 - 435,275

Cost or valuation at 31 January 2023 is represented by:

Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Valuation in 2016 899,159 - - 899,159
Cost 7,500 155,782 36,280 199,562
906,659 155,782 36,280 1,098,721

If Plant and machinery had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 530,874 530,874
Aggregate depreciation 513,266 513,266

Plant and machinery was valued on an open market basis on 31 January 2016 by by the Directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 186,165 199,224
Other debtors 193,676 221,308
379,841 420,532

Hampson Composites Ltd (Registered number: 03950088)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 9,167
Hire purchase contracts 7,456 -
Trade creditors 78,201 59,031
Amounts owed to group undertakings 76,868 61,868
Taxation and social security 141,475 122,680
Other creditors 11,721 47,018
325,721 299,764

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 30,833 40,833
Hire purchase contracts 25,475 -
56,308 40,833

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 833

8. RESERVES
Revaluation
reserve
£   
At 1 February 2022
and 31 January 2023 368,285

9. RELATED PARTY DISCLOSURES

The directors of Hampson Composites Limited hold 1770 shares in the ultimate holding company, TO22.COM Limited (2022: 1770 shares), and are also directors of that company. 1770 shares represent 59% of the share capital of TO22.COM Limited.

At the year end there was an interest free loan of £130,231 owed from a Company wholly owned by key management personnel & Directors.