2022-11-012023-10-312023-10-31false11033971HAYNES SERVICES 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HAYNES SERVICES LIMITED

Registered Number
11033971
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

HAYNES SERVICES LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

CRANE, Martin Anthony

Company Secretary

CRANE, Julie Ann

Registered Address

Trinder House Free Street
Bishops Waltham
Southampton
SO32 1EE

Registered Number

11033971 (England and Wales)
HAYNES SERVICES LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets312,16611,944
12,16611,944
Current assets
Stocks8,5978,985
Debtors40,78232,540
Cash at bank and on hand24,25652,392
73,63593,917
Creditors amounts falling due within one year(32,991)(36,198)
Net current assets (liabilities)40,64457,719
Total assets less current liabilities52,81069,663
Creditors amounts falling due after one year(18,108)(25,312)
Net assets34,70244,351
Capital and reserves
Called up share capital100100
Profit and loss account34,60244,251
Shareholders' funds34,70244,351
The financial statements were approved and authorised for issue by the Director on 30 July 2024, and are signed on its behalf by:
CRANE, Martin Anthony
Director
Registered Company No. 11033971
HAYNES SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year66
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 November 2221,068
Additions4,278
At 31 October 2325,346
Depreciation and impairment
At 01 November 229,124
Charge for year4,056
At 31 October 2313,180
Net book value
At 31 October 2312,166
At 31 October 2211,944