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Registered Number: 02625800
England and Wales

 

 

 

ESSEX HAY & STRAW COMPANY LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 October 2022

End date: 30 September 2023
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Essex Hay & Straw Company Limited for the year ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Essex Hay & Straw Company Limited for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Essex Hay & Straw Company Limited , as a body, in accordance with the terms of our engagement letter dated 13 February 2024. Our work has been undertaken solely to prepare for your approval the accounts of Essex Hay & Straw Company Limited and state those matters that we have agreed to state to the Board of Directors of Essex Hay & Straw Company 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 Essex Hay & Straw Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Essex Hay & Straw Company 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 Essex Hay & Straw Company Limited .


You consider that Essex Hay & Straw Company 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 Essex Hay & Straw Company 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 30 September 2020.



....................................................
Wood & Disney Ltd
Lodge Park, Lodge Lane
Langham
Colchester
CO4 5NE
13 February 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 342,294    318,119 
342,294    318,119 
Current assets      
Stocks 8,600    9,768 
Debtors 195,905    109,702 
Cash at bank and in hand 157,932    231,227 
362,437    350,697 
Creditors: amount falling due within one year (365,750)   (252,834)
Net current liabilities (3,313)   97,863 
 
Total assets less current liabilities 338,981    415,982 
Creditors: amount falling due after more than one year   (11,533)
Provisions for liabilities (33,851)   (29,258)
Net assets 305,130    375,191 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 305,030    375,091 
Shareholder's funds 305,130    375,191 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 13 February 2024 and were signed on its behalf by:


-------------------------------
R C Wright
Director
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General Information
Essex Hay & Straw Company Limited is a private company, limited by shares, registered in England and Wales, registration number 02625800, registration address Cut Farm, Beaumont, Clacton on Sea, Essex, CO16 0BB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: 
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 7 (2022 : 6).
3.

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.

4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Motor Vehicles   Total
  £   £   £   £   £   £
At 01 October 2022 169,189    544,328    2,843    5,826    70,000    792,186 
Additions   71,323      1,158      72,481 
Disposals   (33,070)     (3,658)     (36,728)
At 30 September 2023 169,189    582,581    2,843    3,326    70,000    827,939 
Depreciation
At 01 October 2022 5,059    445,235    1,811    4,462    17,500    474,067 
Charge for year   33,302    258    405    13,125    47,090 
On disposals   (32,086)     (3,426)     (35,512)
At 30 September 2023 5,059    446,451    2,069    1,441    30,625    485,645 
Net book values
Closing balance as at 30 September 2023 164,130    136,130    774    1,885    39,375    342,294 
Opening balance as at 01 October 2022 164,130    99,093    1,032    1,364    52,500    318,119 

The net book value of Plant and Machinery, Motor Vehicles includes £ 86,319 (2022 £115,003) in respect of assets leased under finance leases or hire purchase contracts.

3