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REGISTERED NUMBER: 02241379 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

J HESKETH (ENGINEERING) LIMITED

J HESKETH (ENGINEERING) LIMITED (REGISTERED NUMBER: 02241379)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J HESKETH (ENGINEERING) LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: W A Lloyd
M D Lloyd
J Lloyd





SECRETARY: W A Lloyd





REGISTERED OFFICE: Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB





REGISTERED NUMBER: 02241379 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

J HESKETH (ENGINEERING) LIMITED (REGISTERED NUMBER: 02241379)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 94,096 132,948

CURRENT ASSETS
Stocks 25,000 20,000
Debtors 5 1,962,339 1,804,648
Cash at bank and in hand 4,598 1,225
1,991,937 1,825,873
CREDITORS
Amounts falling due within one year 6 1,438,039 1,263,894
NET CURRENT ASSETS 553,898 561,979
TOTAL ASSETS LESS CURRENT
LIABILITIES

647,994

694,927

CREDITORS
Amounts falling due after more than one
year

7

(423,729

)

(455,647

)

PROVISIONS FOR LIABILITIES (22,535 ) (22,535 )
NET ASSETS 201,730 216,745

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 201,630 216,645
SHAREHOLDERS' FUNDS 201,730 216,745

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

J HESKETH (ENGINEERING) LIMITED (REGISTERED NUMBER: 02241379)

BALANCE SHEET - continued
31 October 2023


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 Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





M D Lloyd - Director


J HESKETH (ENGINEERING) LIMITED (REGISTERED NUMBER: 02241379)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

J Hesketh (Engineering) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents the value, excluding value added tax of goods and services supplied to customers during the year.

Revenue is recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue is measured at the fair value of the work performed by reference to the amount chargeable to clients, excluding value added tax. Revenue not billed to clients at the balance sheet date is included in debtors as amounts recoverable on incomplete contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

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.

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.

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

J HESKETH (ENGINEERING) LIMITED (REGISTERED NUMBER: 02241379)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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 25 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 406,627
Disposals (13,997 )
At 31 October 2023 392,630
DEPRECIATION
At 1 November 2022 273,679
Charge for year 28,889
Eliminated on disposal (4,034 )
At 31 October 2023 298,534
NET BOOK VALUE
At 31 October 2023 94,096
At 31 October 2022 132,948

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 999,705 827,656
Amounts owed by group undertakings 426,762 434,926
Amounts recoverable on
incomplete contracts 287,657 297,907
Other debtors 248,215 244,159
1,962,339 1,804,648

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 -
Hire purchase contracts 18,625 49,967
Trade creditors 474,898 360,215
Taxation and social security 626,228 472,912
Other creditors 307,640 380,800
1,438,039 1,263,894

J HESKETH (ENGINEERING) LIMITED (REGISTERED NUMBER: 02241379)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 28,703 -
Hire purchase contracts 33,643 44,264
Other creditors 361,383 411,383
423,729 455,647

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 52,268 94,231
Invoice discounting creditor 286,982 364,655
Other creditors 361,383 411,383
700,633 870,269

The bank overdraft is secured by a debenture dated 13 May 2008 in favour of Natwest Bank plc.

The invoice discounting creditor is secured by an all asset debenture dated 30 November 2011.

The other creditors are secured by a personal guarantee from a director.

9. CONTINGENT LIABILITIES

The company has given a cross guarantee against any indebtedness to Natwest Bank plc of its parent company, Alderbrook Holdings Limited (now Hesketh Engineering and Fabrication Limited).