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REGISTERED NUMBER: 04792896 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Hayneswood Engineering (UK) Limited

Hayneswood Engineering (UK) Limited (Registered number: 04792896)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Balance Sheet 1

Notes to the Financial Statements 2


Hayneswood Engineering (UK) Limited (Registered number: 04792896)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 11,445 12,584
11,445 12,584

CURRENT ASSETS
Debtors 6 782,507 820,119
Cash at bank and in hand 81,931 223,353
864,438 1,043,472
CREDITORS
Amounts falling due within one year 7 486,962 628,948
NET CURRENT ASSETS 377,476 414,524
TOTAL ASSETS LESS CURRENT LIABILITIES 388,921 427,108

CAPITAL AND RESERVES
Called up share capital 9 1,798 1,798
Share premium 23,750 23,750
Capital redemption reserve 452 452
Retained earnings 362,921 401,108
SHAREHOLDERS' FUNDS 388,921 427,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2024 and were signed on its behalf by:





Mrs S L Hannington - Director


Hayneswood Engineering (UK) Limited (Registered number: 04792896)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Hayneswood Engineering (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04792896

Registered office: Acorn Street
Lees
Oldham
OL4 3DE

The presentation currency of the financial statements is the Pound Sterling (£).


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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax and is recognised as the company becomes entitled to consideration for the services supplied.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property rights are being amortised evenly over their estimated useful life of three years.

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
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hayneswood Engineering (UK) Limited (Registered number: 04792896)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual
property
rights
£   
COST
At 1 December 2022
and 30 November 2023 3,330
AMORTISATION
At 1 December 2022
and 30 November 2023 3,330
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 - 24,590 24,590
Additions 2,322 - 2,322
At 30 November 2023 2,322 24,590 26,912
DEPRECIATION
At 1 December 2022 - 12,006 12,006
Charge for year 315 3,146 3,461
At 30 November 2023 315 15,152 15,467
NET BOOK VALUE
At 30 November 2023 2,007 9,438 11,445
At 30 November 2022 - 12,584 12,584

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 758,610 697,269
Amounts recoverable on contract 6,000 106,000
Other debtors 17,897 16,850
782,507 820,119

Hayneswood Engineering (UK) Limited (Registered number: 04792896)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,850 -
Trade creditors 178,799 151,625
Amounts owed to group undertakings 103,504 277,138
Taxation and social security 194,046 192,002
Other creditors 8,763 8,183
486,962 628,948

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 1,850 -

National Westminster Bank plc have a debenture incorporating a fixed and floating charge over the fixed and current assets of the company in respect of all monies due to them by the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,798 Ordinary £1 1,798 1,798

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with its parent company which holds 100% of its issued share capital.

11. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Lees Brook Limited.

No one person has overall control of Lees Brook Limited.