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REGISTERED NUMBER: 07710737 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31st July 2023

for

Haigh Rail Limited

Haigh Rail Limited (Registered number: 07710737)






Contents of the Financial Statements
for the year ended 31st July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Haigh Rail Limited

Company Information
for the year ended 31st July 2023







DIRECTORS: Mr C Haigh
Mr M Downing
Mr K Clarke
Mr D Foster





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 07710737 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Haigh Rail Limited (Registered number: 07710737)

Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 686,877 608,115
Investments 5 2,500 2,500
689,377 610,615

CURRENT ASSETS
Stocks 203,699 338,803
Debtors 6 1,164,454 892,310
Cash at bank 853,776 939,119
2,221,929 2,170,232
CREDITORS
Amounts falling due within one year 7 779,164 919,632
NET CURRENT ASSETS 1,442,765 1,250,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,132,142

1,861,215

CREDITORS
Amounts falling due after more than one
year

8

(188,141

)

(173,172

)

PROVISIONS FOR LIABILITIES (149,943 ) (84,306 )
NET ASSETS 1,794,058 1,603,737

CAPITAL AND RESERVES
Called up share capital 970 970
Retained earnings 1,793,088 1,602,767
SHAREHOLDERS' FUNDS 1,794,058 1,603,737

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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 Income Statement has not been delivered.

Haigh Rail Limited (Registered number: 07710737)

Balance Sheet - continued
31st July 2023



The financial statements were approved by the Board of Directors and authorised for issue on 13th February 2024 and were signed on its behalf by:





Mr C Haigh - Director


Haigh Rail Limited (Registered number: 07710737)

Notes to the Financial Statements
for the year ended 31st July 2023

1. STATUTORY INFORMATION

Haigh Rail Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost and over the length of the lease
Plant and machinery etc - 20% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

Haigh Rail Limited (Registered number: 07710737)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 60 (2022 - 70 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st August 2022 113,687 1,033,480 1,147,167
Additions - 291,111 291,111
Disposals - (251,080 ) (251,080 )
At 31st July 2023 113,687 1,073,511 1,187,198
DEPRECIATION
At 1st August 2022 23,666 515,386 539,052
Charge for year 2,914 116,885 119,799
Eliminated on disposal - (158,530 ) (158,530 )
At 31st July 2023 26,580 473,741 500,321
NET BOOK VALUE
At 31st July 2023 87,107 599,770 686,877
At 31st July 2022 90,021 518,094 608,115

Haigh Rail Limited (Registered number: 07710737)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st August 2022 352,127
Additions 280,212
Transfer to ownership (34,740 )
At 31st July 2023 597,599
DEPRECIATION
At 1st August 2022 81,020
Charge for year 89,923
Transfer to ownership (25,008 )
At 31st July 2023 145,935
NET BOOK VALUE
At 31st July 2023 451,664
At 31st July 2022 271,107

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st August 2022
and 31st July 2023 2,500
NET BOOK VALUE
At 31st July 2023 2,500
At 31st July 2022 2,500

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 887,410 554,997
Other debtors 85,620 146,889
973,030 701,886

Amounts falling due after more than one year:
Other debtors 191,424 190,424

Aggregate amounts 1,164,454 892,310

Haigh Rail Limited (Registered number: 07710737)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,016 9,621
Hire purchase contracts (see note 9) 107,370 85,031
Trade creditors 352,176 630,469
Taxation and social security 272,980 166,081
Other creditors 36,622 28,430
779,164 919,632

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 19,003 29,164
Hire purchase contracts (see note 9) 169,138 144,008
188,141 173,172

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 301

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 107,370 85,031
Between one and five years 169,138 144,008
276,508 229,039

Non-cancellable operating leases
2023 2022
£    £   
Within one year 77,445 73,726
Between one and five years 202,791 178,279
280,236 252,005

Haigh Rail Limited (Registered number: 07710737)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 276,508 229,039

The bank holds a charge over the freehold property owned by the company together with a floating charge covering all the property or undertakings of the company. There are no borrowings from the bank at the period end which are secured.

Hire purchase contracts are secured against specific fixed assets.

11. RELATED PARTY DISCLOSURES

DWH Investments Limited is a Company related by common control. Haigh Rail Limited has provided DWH Investments Limited with an interest free loan. The balance outstanding at the year end of £191,424 (2022 - £190,424) is included in Other Debtors due after after more than one year.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C Haigh.