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REGISTERED NUMBER: 04425901 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

THE HAYNES LIMITED

THE HAYNES LIMITED (REGISTERED NUMBER: 04425901)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE HAYNES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: A G Haynes
Mrs J E Haynes





SECRETARY:





REGISTERED OFFICE: 9-13 High Street
Wells
Somerset
BA5 2AA





REGISTERED NUMBER: 04425901 (England and Wales)





ACCOUNTANTS: Simmons Accountants Limited
Chartered Certified Accountants
13 High Street
Wells
Somerset
BA5 2AA

THE HAYNES LIMITED (REGISTERED NUMBER: 04425901)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,488 3,196
Investments 6 80,000 80,000
82,488 83,196

CURRENT ASSETS
Stocks 1,454 1,400
Debtors 7 100 100
Cash at bank and in hand 806,913 784,731
808,467 786,231
CREDITORS
Amounts falling due within one year 8 138,180 103,308
NET CURRENT ASSETS 670,287 682,923
TOTAL ASSETS LESS CURRENT
LIABILITIES

752,775

766,119

PROVISIONS FOR LIABILITIES 331 542
NET ASSETS 752,444 765,577

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 752,144 765,277
SHAREHOLDERS' FUNDS 752,444 765,577

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

THE HAYNES LIMITED (REGISTERED NUMBER: 04425901)

BALANCE SHEET - continued
31 MAY 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 14 February 2024 and were signed on its behalf by:




A G Haynes - Director



Mrs J E Haynes - Director


THE HAYNES LIMITED (REGISTERED NUMBER: 04425901)

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

1. STATUTORY INFORMATION

The Haynes 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. 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.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 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 13 (2022 - 11 ) .

THE HAYNES LIMITED (REGISTERED NUMBER: 04425901)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 84,300
AMORTISATION
At 1 June 2022
and 31 May 2023 84,300
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 June 2022 7,863 23,467 8,497 39,827
Disposals (3,667 ) (1,091 ) (2,112 ) (6,870 )
At 31 May 2023 4,196 22,376 6,385 32,957
DEPRECIATION
At 1 June 2022 7,166 21,989 7,476 36,631
Charge for year 83 215 140 438
Eliminated on disposal (3,527 ) (1,051 ) (2,022 ) (6,600 )
At 31 May 2023 3,722 21,153 5,594 30,469
NET BOOK VALUE
At 31 May 2023 474 1,223 791 2,488
At 31 May 2022 697 1,478 1,021 3,196

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
HSBC Capital Protected 80,000 80,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 100 100

THE HAYNES LIMITED (REGISTERED NUMBER: 04425901)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 9,239 4,047
Tax 11,865 15,319
Social security and other taxes 16,025 14,408
Directors loan a/c J E Haynes 39,980 14,435
Directors loan a/c, A G Haynes 56,776 50,874
Accrued expenses 4,295 4,225
138,180 103,308

9. ULTIMATE CONTROLLING PARTY

The controlling party is A G Haynes.