REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
HAMMOND RAGGETT & COMPANY LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
HAMMOND RAGGETT & COMPANY LIMITED (REGISTERED NUMBER: 04087392) |
BALANCE SHEET - continued |
31st December 2023 |
2023 | 2022 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
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 |
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 |
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 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31st December 2023 |
DEPRECIATION |
At 1st January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
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 |
Amounts owed by group undertakings |
Other debtors |
7. | CURRENT ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Listed investments | 105,690 | 268,137 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
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 |
Between one and five years |
In more than five years |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 25,100 | 25,100 |
Ordinary B | £1 | 274 | 274 |
25,374 | 25,374 |