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REGISTERED NUMBER: 04087392 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

HAMMOND RAGGETT & COMPANY LIMITED

HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HAMMOND RAGGETT & COMPANY LIMITED

COMPANY INFORMATION
for the Year Ended 31st December 2023







DIRECTORS: Mr S Whamond
Mr B Raggett
Ms C Somerset





SECRETARY: Mr S Whamond





REGISTERED OFFICE: 7th Floor
The Lexicon
Mount Street
Manchester
M2 5NT





REGISTERED NUMBER: 04087392 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

BALANCE SHEET
31st December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 28,376 18,247
Investments 5 100 100
28,476 18,347

CURRENT ASSETS
Debtors 6 275,212 252,912
Investments 7 105,690 268,137
Cash at bank 571,561 407,272
952,463 928,321
CREDITORS
Amounts falling due within one year 8 (271,251 ) (221,610 )
NET CURRENT ASSETS 681,212 706,711
TOTAL ASSETS LESS CURRENT LIABILITIES 709,688 725,058

CREDITORS
Amounts falling due after more than one year 9 (54,948 ) (55,868 )

PROVISIONS FOR LIABILITIES (5,617 ) (2,956 )
NET ASSETS 649,123 666,234

HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

BALANCE SHEET - continued
31st December 2023

2023 2022
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 11 25,374 25,374
Share premium 97,266 97,266
Capital redemption reserve 2,461 2,461
Retained earnings 524,022 541,133
SHAREHOLDERS' FUNDS 649,123 666,234

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 11th March 2024 and were signed on its behalf by:





Mr S Whamond - Director


HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Hammond Raggett and Company Limited is a private company limited by share capital, incorporated in England and Wales, registration number 04087392. The address of the registered office and principal place of business is 7th Floor, The Lexicon, Mount Street, Manchester, England, M2 5NT.

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.

Preparation of consolidated financial statements
The financial statements contain information about Hammond Raggett & Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
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 wholly owned subsidiaries within the group.

Turnover
Turnover is measured at fair value of the consideration received or receivable and represents the amount receivable for services rendered, net of discounts and rebates allowed by the Company and value added tax.

Turnover principally consists of financial services rendered which are recognised at the point of which the services are provided, where net takings are recognised as earned. The financial services provided include savings and investments advice, retirement planning, inheritance tax planning, and business services.

HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Fixtures and fittings- 10% Straight Line
Computer equipment- 25% Straight Line

At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Current Asset Investments
The fair values of investments that are traded in active markets are base on prices obtained directly from an exchange on which the instruments are traded or obtained from a broker that provides an unadjusted quoted price from an active market for identical instruments. For all other financial instruments, the company determines fair values using other valuation techniques.

For financial instruments that trade infrequently and have little price transparency, fair value is less objective and requires varying degrees of judgement depending on liquidity, uncertainty of market factors, pricing assumptions and other risks affecting the specific instrument.

Current asset investments are made up of a share portfolio.

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.


HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Operating leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st January 2023 15,780 72,029 87,809
Additions 148 17,103 17,251
Disposals (94 ) (38,036 ) (38,130 )
At 31st December 2023 15,834 51,096 66,930
DEPRECIATION
At 1st January 2023 8,992 60,570 69,562
Charge for year 868 5,381 6,249
Eliminated on disposal (94 ) (37,163 ) (37,257 )
At 31st December 2023 9,766 28,788 38,554
NET BOOK VALUE
At 31st December 2023 6,068 22,308 28,376
At 31st December 2022 6,788 11,459 18,247

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st January 2023
and 31st December 2023 100
NET BOOK VALUE
At 31st December 2023 100
At 31st December 2022 100

HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


5. FIXED ASSET INVESTMENTS - continued

The following was a subsidiary undertaking of the company:



Name
Country of
Incorporation

Class of Shares

Holding

Principal Activity
Dartferry Ltd England and Wales Ordinary 100% Dormant


The registered office and principal place of business of the above mentioned company is 7th Floor, The Lexicon, Mount Street, Manchester, M2 5NT.

The financial year end of the subsidiary company is on 31st December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,714 6,350
Amounts owed by group undertakings 226,422 226,422
Other debtors 30,076 20,140
275,212 252,912

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 105,690 268,137

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,201 7,973
Amounts owed to group undertakings 3,143 3,143
Taxation and social security 249,134 195,721
Other creditors 14,773 14,773
271,251 221,610

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 54,948 55,868

HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2023


10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 75,160 74,491
Between one and five years 299,470 297,965
In more than five years 242,097 316,587
616,727 689,043

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25,100 Ordinary £1 25,100 25,100
274 Ordinary B £1 274 274
25,374 25,374