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REGISTERED NUMBER: 01261826 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Hadfield & Britain Limited

Hadfield & Britain Limited (Registered number: 01261826)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hadfield & Britain Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mr A K Fogg





REGISTERED OFFICE: Adam House
Gerrard Street
Stalybridge
Cheshire
SK15 2JY





REGISTERED NUMBER: 01261826 (England and Wales)





ACCOUNTANTS: Fletchers Accountants
Albion House
163-167 King Street
Dukinfield
Cheshire
SK16 4LF

Hadfield & Britain Limited (Registered number: 01261826)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 136,331 143,757
Investments 5 1,064,652 556,075
Investment property 6 568,564 568,564
1,769,547 1,268,396

CURRENT ASSETS
Stocks 22,500 22,500
Debtors 7 248,601 234,800
Cash at bank and in hand 1,309,815 1,358,936
1,580,916 1,616,236
CREDITORS
Amounts falling due within one year 8 358,547 156,363
NET CURRENT ASSETS 1,222,369 1,459,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,991,916

2,728,269

PROVISIONS FOR LIABILITIES 46,421 30,641
NET ASSETS 2,945,495 2,697,628

Hadfield & Britain Limited (Registered number: 01261826)

Balance Sheet - continued
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Retained earnings 9 2,944,493 2,696,626
2,945,495 2,697,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





Mr A K Fogg - Director


Hadfield & Britain Limited (Registered number: 01261826)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Hadfield & Britain 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 as modified by the revaluation of certain assets.

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.
Freehold property - 2% on cost
Equipment and furniture - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - straight line over 3 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.


Hadfield & Britain Limited (Registered number: 01261826)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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 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 12 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Equipment Fixtures
Freehold and and
property furniture fittings
£    £    £   
COST
At 1 July 2022 81,935 9,007 25,457
Additions - - -
Disposals - - -
At 30 June 2023 81,935 9,007 25,457
DEPRECIATION
At 1 July 2022 42,686 8,884 25,209
Charge for year 1,640 31 62
Eliminated on disposal - - -
At 30 June 2023 44,326 8,915 25,271
NET BOOK VALUE
At 30 June 2023 37,609 92 186
At 30 June 2022 39,249 123 248

Hadfield & Britain Limited (Registered number: 01261826)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2022 216,177 12,267 344,843
Additions 25,964 - 25,964
Disposals (13,055 ) - (13,055 )
At 30 June 2023 229,086 12,267 357,752
DEPRECIATION
At 1 July 2022 112,111 12,196 201,086
Charge for year 28,488 71 30,292
Eliminated on disposal (9,957 ) - (9,957 )
At 30 June 2023 130,642 12,267 221,421
NET BOOK VALUE
At 30 June 2023 98,444 - 136,331
At 30 June 2022 104,066 71 143,757

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 July 2022 556,075
Additions 508,550
Revaluations 27
At 30 June 2023 1,064,652
NET BOOK VALUE
At 30 June 2023 1,064,652
At 30 June 2022 556,075

Hadfield & Britain Limited (Registered number: 01261826)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 June 2023 is represented by:

Other
investments
£   
Valuation in 2021 8,828
Valuation in 2022 47,247
Valuation in 2023 27
Cost 1,008,550
1,064,652

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 568,564
NET BOOK VALUE
At 30 June 2023 568,564
At 30 June 2022 568,564

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 208,838 198,677
Other debtors 15,000 10,000
Prepayments and accrued income 24,763 26,123
248,601 234,800

Hadfield & Britain Limited (Registered number: 01261826)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Hire purchase contracts - 7,756
Trade creditors 126,402 41,072
Tax 78,696 29,023
Social security and other taxes 13,676 292
VAT 43,437 38,160
Other creditors 4,083 1,837
Credit Card 1,677 587
Directors' current accounts 81,436 29,436
Accruals and deferred income 9,140 8,200
358,547 156,363

9. RESERVES
Retained
earnings
£   

At 1 July 2022 2,696,626
Profit for the year 297,867
Dividends (50,000 )
At 30 June 2023 2,944,493