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REGISTERED NUMBER: 00309724 (England and Wales)















FOSCO, HAYES, HURDLEY LIMITED

Unaudited Financial Statements for the Year Ended 30 November 2022






FOSCO, HAYES, HURDLEY LIMITED (REGISTERED NUMBER: 00309724)






Contents of the Financial Statements
for the year ended 30 November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


FOSCO, HAYES, HURDLEY LIMITED

Company Information
for the year ended 30 November 2022







Directors: Ms V Fewtrell
Mr D Nicholas
Mr C J Southall





Registered office: 105 Hospital Street
Birmingham
West Midlands
B19 3XB





Registered number: 00309724 (England and Wales)





Accountants: Haines Watts South East LLP
5-6 Greenfield Crescent
Edgbaston
Birmingham
Surrey
B15 3BE

FOSCO, HAYES, HURDLEY LIMITED (REGISTERED NUMBER: 00309724)

Balance Sheet
30 November 2022

2022 2021
Notes £ £ £ £
Fixed assets
Tangible assets 5 2,479,116 1,773,512

Current assets
Stocks 6 131,750 121,985
Debtors 7 1,123,423 1,328,557
Cash at bank and in hand 141,834 157,217
1,397,007 1,607,759
Creditors
Amounts falling due within one year 8 1,686,198 1,715,348
Net current liabilities (289,191 ) (107,589 )
Total assets less current liabilities 2,189,925 1,665,923

Creditors
Amounts falling due after more than one
year

9

(261,649

)

(481,663

)

Provisions for liabilities (468,604 ) (179,570 )
Net assets 1,459,672 1,004,690

Capital and reserves
Called up share capital 1,749 1,749
Revaluation reserve 1,148,489 550,482
Retained earnings 309,434 452,459
Shareholders' funds 1,459,672 1,004,690

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

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 9 November 2023 and were signed on its behalf by:



Mr D Nicholas - Director


FOSCO, HAYES, HURDLEY LIMITED (REGISTERED NUMBER: 00309724)

Notes to the Financial Statements
for the year ended 30 November 2022

1. Statutory information

Fosco, Hayes, Hurdley Limited 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. 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 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
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold buildings -Straight line over 40 years
Plant & machinery-25% reducing balance
Fixtures & fittings-25% reducing balance
Motor vehicles -25% 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.

FOSCO, HAYES, HURDLEY LIMITED (REGISTERED NUMBER: 00309724)

Notes to the Financial Statements - continued
for the year ended 30 November 2022

3. Accounting policies - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. Employees and directors

The average number of employees during the year was 40 (2021 - 45 ) .

5. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost or valuation
At 1 December 2021 950,000 2,647,431 368,152 60,542 4,026,125
Additions - - 267 - 267
Revaluations 800,000 - - - 800,000
At 30 November 2022 1,750,000 2,647,431 368,419 60,542 4,826,392
Depreciation
At 1 December 2021 - 1,883,646 349,699 19,268 2,252,613
Charge for year 19,374 81,305 4,142 9,216 114,037
Revaluation adjustments (19,374 ) - - - (19,374 )
At 30 November 2022 - 1,964,951 353,841 28,484 2,347,276
Net book value
At 30 November 2022 1,750,000 682,480 14,578 32,058 2,479,116
At 30 November 2021 950,000 763,785 18,453 41,274 1,773,512

Cost or valuation at 30 November 2022 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Valuation in 2016 587,979 2,627,431 368,152 60,542 3,644,104
Valuation in 2022 800,000 - - - 800,000
Cost 362,021 20,000 267 - 382,288
1,750,000 2,647,431 368,419 60,542 4,826,392

FOSCO, HAYES, HURDLEY LIMITED (REGISTERED NUMBER: 00309724)

Notes to the Financial Statements - continued
for the year ended 30 November 2022

5. Tangible fixed assets - continued

Hire purchase agreements
Included within the net book value of £2,479,116 is £576,033 (2021: £631,606) relating to assets held under hire purchase agreements. The depreciation charged to the financial statements in the year in respect of such assets amounted to £51,707 (2021: £66,568).

6. Stocks
2022 2021
£ £
Stocks 131,750 121,985

7. Debtors: amounts falling due within one year
2022 2021
£ £
Trade debtors 969,372 1,203,144
Other debtors 107,750 33,000
Tax - 36,879
Prepayments 46,301 55,534
1,123,423 1,328,557

8. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 160,274 160,274
Trade creditors 629,251 573,503
Social security and other taxes 29,537 30,022
VAT 135,825 167,274
Other creditors 624,096 638,806
Directors' current accounts 1,290 14,835
Accruals and deferred income 55,925 80,634
1,686,198 1,715,348

9. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans - 1-2 years 50,000 50,000
Bank loans - 2-5 years 75,000 125,000
Hire purchase contracts 136,649 306,663
261,649 481,663

FOSCO, HAYES, HURDLEY LIMITED (REGISTERED NUMBER: 00309724)

Notes to the Financial Statements - continued
for the year ended 30 November 2022

10. Secured debts

The following secured debts are included within creditors:

2022 2021
£ £
Bank loans 175,000 225,000
Hire purchase contracts 296,923 466,937
471,923 691,937

Bank loans and overdrafts are secured by way of fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant & machinery.

Hire purchase agreements are secured on the individual assets concerned.

11. Related party disclosures

The company was under the control by Mr D Nicholas throughout the current and previous year by virtue of his majority shareholding in the company.