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Registration number: 04987033

Haysham Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Haysham Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Haysham Limited

Company Information

Director

I C Brown

Registered office

37 Market Square
Witney
Oxon
OX28 6RE

Accountants

ReesRussell LLP
Chartered Accountants
37 Market Square
Witney
Oxfordshire
OX28 6RE

 

Haysham Limited

(Registration number: 04987033)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

46,261

61,054

Current assets

 

Debtors

5

1,177,052

470,012

Cash at bank and in hand

 

140,145

174,971

 

1,317,197

644,983

Creditors: Amounts falling due within one year

6

(1,093,977)

(714,428)

Net current assets/(liabilities)

 

223,220

(69,445)

Total assets less current liabilities

 

269,481

(8,391)

Creditors: Amounts falling due after more than one year

6

(87,771)

-

Provisions for liabilities

(9,018)

(11,601)

Net assets/(liabilities)

 

172,692

(19,992)

Capital and reserves

 

Called up share capital

3,000

3,000

Retained earnings

169,692

(22,992)

Shareholders' funds/(deficit)

 

172,692

(19,992)

For the financial year ending 31 December 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 his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 April 2024
 

 

Haysham Limited

(Registration number: 04987033)
Balance Sheet as at 31 December 2023

.........................................
I C Brown
Director

   
     
 

Haysham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
37 Market Square
Witney
Oxon
OX28 6RE

The principal place of business is:
Unit 7 Glenmore Business Centre
Range Road
Witney
OX29 0AA

These financial statements were authorised for issue by the director on 5 April 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis even though the balance sheet shows negative net worth at the year end as the directors have pledged their continuing support to the business.

Tangible assets

Tangible assets are stated in the balance sheet 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.

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

Land and buildings

25% reducing balance

 

Haysham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Haysham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 28 (2022 - 28).

 

Haysham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 January 2023

5,329

48,554

89,291

43,385

186,559

Additions

-

1,184

-

-

1,184

At 31 December 2023

5,329

49,738

89,291

43,385

187,743

Depreciation

At 1 January 2023

5,252

44,502

47,756

27,995

125,505

Charge for the year

19

1,728

10,383

3,847

15,977

At 31 December 2023

5,271

46,230

58,139

31,842

141,482

Carrying amount

At 31 December 2023

58

3,508

31,152

11,543

46,261

At 31 December 2022

77

4,052

41,535

15,390

61,054

 

Haysham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

1,150,154

443,614

Amounts owed by related parties

8

19,696

24,696

Other debtors

 

7,202

1,702

   

1,177,052

470,012

 

Haysham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

101,660

281,481

Trade creditors

 

761,084

329,780

Taxation and social security

 

214,288

87,838

Accruals and deferred income

 

5,481

5,481

Other creditors

 

11,464

9,848

 

1,093,977

714,428

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

87,771

-

 

Haysham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

87,771

-

2023
£

2022
£

Current loans and borrowings

Bank borrowings

101,660

280,747

Hire purchase contracts

-

734

101,660

281,481

 

Haysham Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Related party transactions

Summary of transactions with other related parties

Eynley Limited
 Haysham Limited paid rent of £12,000 (2022 - £12,000), accountancy charges of £8,000 (2022 - £8,000) and management charges totalling £18,000 (2022 - £22,500) to Eynley Limited. At the balance sheet date the amount due from Eynley Limited was £19,696 (2022 - £24,696).