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Registration number: 02936069

Hayrish Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 June 2023

 

Hayrish Limited

(Registration number: 02936069)
Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

540,337

561,540

Current assets

 

Stocks

5

22,479

13,510

Debtors

6

21,365

83,620

Cash at bank and in hand

 

38,178

14,016

 

82,022

111,146

Creditors: Amounts falling due within one year

7

(523,366)

(555,329)

Net current liabilities

 

(441,344)

(444,183)

Net assets

 

98,993

117,357

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

98,893

117,257

Shareholders' funds

 

98,993

117,357

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 5 March 2024
 

.........................................
Mrs G Walton
Director

 

Hayrish Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and power, rents received, and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Hayrish Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold buildings

50 years

Plant and machinery

20% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Farm single payment scheme units

10 years

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Hayrish Limited

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

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 July 2022

547,779

603,920

1,929

1,153,628

Additions

-

-

575

575

Disposals

-

-

(400)

(400)

At 30 June 2023

547,779

603,920

2,104

1,153,803

Depreciation

At 1 July 2022

71,094

519,222

1,772

592,088

Charge for the year

4,603

16,938

166

21,707

Eliminated on disposal

-

-

(329)

(329)

At 30 June 2023

75,697

536,160

1,609

613,466

Carrying amount

At 30 June 2023

472,082

67,760

495

540,337

At 30 June 2022

476,685

84,698

157

561,540

5

Stocks

2023
£

2022
£

Other inventories

22,479

13,510

6

Debtors

2023
£

2022
£

Other debtors

2,796

69,777

Prepayments

9,238

7,391

Accrued income

9,331

6,452

21,365

83,620

 

Hayrish Limited

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

6,926

11,012

Accruals and deferred income

9,000

8,650

Other creditors

507,440

535,667

523,366

555,329

8

Related party transactions

At the year end the company owed the directors £507,440 (2022 - £535,667).