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Registered number: 04252787










GRAHAM L HAYWARD LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
GRAHAM L HAYWARD LIMITED
 
 
COMPANY INFORMATION


Director
Mr G Hayward 




Registered number
04252787



Registered office
12 Church Street

Cromer

Norfolk

NR27 9ER




Accountants
MA Partners LLP
Chartered Accountants

12 Church Street

Cromer

Norfolk

NR27 9ER





 
GRAHAM L HAYWARD LIMITED
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2 - 3
Notes to the Financial Statements
 
 
4 - 9

 
GRAHAM L HAYWARD LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GRAHAM L HAYWARD LIMITED
FOR THE YEAR ENDED 31 JULY 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Graham L Hayward Limited for the year ended 31 July 2023 which comprise  the Balance Sheet and the related notes from the Company's 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 (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Graham L Hayward Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Graham L Hayward Limited and state those matters that we have agreed to state to the director of Graham L Hayward Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Graham L Hayward Limited and its director for our work or for this report. 

It is your duty to ensure that Graham L Hayward Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Graham L Hayward Limited. You consider that Graham L Hayward Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Graham L Hayward 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 financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
11 March 2024
Page 1

 
GRAHAM L HAYWARD LIMITED
REGISTERED NUMBER: 04252787

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,953
22,123

Investment property
 5 
295,000
271,638

  
330,953
293,761

Current assets
  

Stocks
  
600
400

Debtors: amounts falling due within one year
 6 
6,661
1,619

Cash at bank and in hand
 7 
38,043
20,589

  
45,304
22,608

Creditors: amounts falling due within one year
 8 
(395,916)
(401,644)

Net current liabilities
  
 
 
(350,612)
 
 
(379,036)

Total assets less current liabilities
  
(19,659)
(85,275)

Provisions for liabilities
  

Deferred tax
 9 
(10,674)
(4,202)

  
 
 
(10,674)
 
 
(4,202)

Net liabilities
  
(30,333)
(89,477)


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
  
18,923
-

Profit and loss account
  
(49,356)
(89,577)

  
(30,333)
(89,477)


Page 2

 
GRAHAM L HAYWARD LIMITED
REGISTERED NUMBER: 04252787
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 March 2024.




................................................
Mr G Hayward
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
GRAHAM L HAYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Graham L Hayward Limited is a private company, limited by shares. It is both incorporated and domiciled in England and Wales. The Company's registered office is 12 Church Street, Cromer, Norfolk, NR27 9ER.

The Company's principal activity is building and construction, and the principal place of activity is Sheringham, Norfolk.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is measured at the fair value of the consideration received or recievable. Revenue for building and construction work is recognised in the period in which the work is carried out. The Company is registered for Value Added Tax.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Current and deferred taxation

 The tax expense for the year comprises current and deferred tax.
Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the balance sheet date.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
GRAHAM L HAYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% Reducing balance
Motor vehicles
-
15% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress and finished goods include labour and attributable overheads.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
GRAHAM L HAYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties, and other creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost 


At 1 August 2022
15,752
45,639
61,391


Additions
765
26,754
27,519


Disposals
-
(22,915)
(22,915)



At 31 July 2023

16,517
49,478
65,995



Depreciation


At 1 August 2022
12,835
26,432
39,267


Charge for the year on owned assets
552
5,792
6,344


Disposals
-
(15,569)
(15,569)



At 31 July 2023

13,387
16,655
30,042



Net book value



At 31 July 2023
3,130
32,823
35,953



At 31 July 2022
2,916
19,207
22,123

Page 6

 
GRAHAM L HAYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
271,638


Surplus on revaluation
23,362



At 31 July 2023
295,000

The 2023 valuations were made by the director, on an open market value for existing use basis.

2023
2022
£
£

Revaluation reserves


Net surplus in movement properties
18,923
-

At 31 July 2023
18,923
-



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
271,638
271,638

271,638
271,638


6.


Debtors

2023
2022
£
£


Prepayments and accrued income
6,661
1,619

6,661
1,619


Page 7

 
GRAHAM L HAYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
38,043
20,589

38,043
20,589



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
6,454
-

Other taxation and social security
5,842
4,925

Other creditors
382,435
395,595

Accruals and deferred income
1,185
1,124

395,916
401,644



9.


Deferred taxation




2023
2022


£

£






At beginning of year
(4,202)
(4,965)


Charged to profit or loss
(6,472)
763



At end of year
(10,674)
(4,202)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(6,237)
(4,202)

Investment property revaluation
(4,437)
-

Page 8

 
GRAHAM L HAYWARD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



11.


Reserves

Other reserves

The fair value reserve represents the cumulative value of revaluations of the Company's investment property to fair value, net of deferred tax. The amounts debited or credited to this reserve are transfers from the profit and loss account. Deferred tax is provided for on these fair value adjustments at the standard rate of tax applicable in the UK.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.


12.


Related party transactions

As at 31 July 2023, the Company owed the director £381,656 (2022: £194,979). This loan is included in other creditors in note 8 to the financial statements. The loan is interest free and repayable on demand. 

 
Page 9