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REGISTERED NUMBER: SC373745 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

HAYWARD JARDINE LTD

HAYWARD JARDINE LTD (REGISTERED NUMBER: SC373745)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

HAYWARD JARDINE LTD

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Mrs E Gorry
Mr A B McNeill





REGISTERED OFFICE: 41 Carlyle Avenue
Hillington Park
Glasgow
G52 4XX





REGISTERED NUMBER: SC373745 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

HAYWARD JARDINE LTD (REGISTERED NUMBER: SC373745)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,362 35,046

CURRENT ASSETS
Stocks 16,483 200,141
Debtors: amounts falling due within one year 5 1,803,369 1,159,014
Cash at bank 107,032 112,057
1,926,884 1,471,212
CREDITORS
Amounts falling due within one year 6 1,721,985 1,400,807
NET CURRENT ASSETS 204,899 70,405
TOTAL ASSETS LESS CURRENT
LIABILITIES

238,261

105,451

CREDITORS
Amounts falling due after more than one
year

7

3,807

13,510
NET ASSETS 234,454 91,941

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 234,354 91,841
SHAREHOLDERS' FUNDS 234,454 91,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

HAYWARD JARDINE LTD (REGISTERED NUMBER: SC373745)

Balance Sheet - continued
29 February 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mr A B McNeill - Director


HAYWARD JARDINE LTD (REGISTERED NUMBER: SC373745)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Hayward Jardine Ltd is a private company, limited by shares , registered in Scotland. 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.

Significant judgements and estimates
The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The directors are of the opinion that due to the nature of the business, there are no critical accounting estimates or judgements used in the preparation of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discount and value added taxes. Turnover includes revenue earned from the sale of goods.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged to profit or loss over the estimated useful economic lives, as follows:

Land and buildings - 10% reducing balance
Plant & Machinery - 20% reducing balance
Fixtures & Fittings - 25% reducing balance
Office Equipment - 33% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use.

Any impairment loss is recognised immediately as an expense within profit or loss.

Stocks
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). Cost includes all amounts related to the purchase, conversion and other processes in bringing the stock to its present location and condition ready for sale. Stock is accounted for on a 'First-In, First-out' (FIFO) basis. Provision for damaged, obsolete and slow-moving items is made where appropriate.

HAYWARD JARDINE LTD (REGISTERED NUMBER: SC373745)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Foreign currencies
Transactions in foreign currencies are initially recorded at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are transferred at the closing rate of exchange. Non-monetary items that re measured at the historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

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.

Provisions
A provision is recognised when the company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

HAYWARD JARDINE LTD (REGISTERED NUMBER: SC373745)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 34,172 4,011 1,774 9,487 49,444
Additions - 3,375 502 - 3,877
At 29 February 2024 34,172 7,386 2,276 9,487 53,321
DEPRECIATION
At 1 March 2023 4,988 4,011 641 4,758 14,398
Charge for year 2,918 675 408 1,560 5,561
At 29 February 2024 7,906 4,686 1,049 6,318 19,959
NET BOOK VALUE
At 29 February 2024 26,266 2,700 1,227 3,169 33,362
At 28 February 2023 29,184 - 1,133 4,729 35,046

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 1,420,898 1,040,013
Prepayments and accrued income 382,471 119,001
1,803,369 1,159,014

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 169,068 89,376
Invoice finance and trade loans 1,237,526 919,061
Trade creditors 145,880 256,004
Tax 102,542 92,598
Social security and other taxes 2,843 2,106
VAT 36,292 16,408
Other creditors 4,520 -
Directors' current accounts 11,431 94
Accruals and deferred income 11,883 25,160
1,721,985 1,400,807

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans - 2-5 years 3,807 13,510

HAYWARD JARDINE LTD (REGISTERED NUMBER: SC373745)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Bank overdrafts 149,662 69,734
Bank loans 23,213 33,152
Invoice financing 1,237,526 919,066
1,410,401 1,021,952

HSBC hold a floating charge that covers all the property or undertaking of the company in relation to the Invoice financing accounts.

The Bank also hold security over the rights of all trade debts.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
Mr A B McNeill
Balance outstanding at start of year (94 ) 34,432
Amounts advanced 38,663 94,474
Amounts repaid (50,000 ) (129,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,431 ) (94 )

11. RELATED PARTY DISCLOSURES

During the year the directors received remuneration of £48,171 (2023: £95,176) and dividends of £54,000 (2023: £234,000).

The controlling party is Mr A B McNeill.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Hayward Jardine Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hayward Jardine Ltd for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Hayward Jardine Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hayward Jardine Ltd and state those matters that we have agreed to state to the Board of Directors of Hayward Jardine Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Hayward Jardine Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hayward Jardine Ltd. You consider that Hayward Jardine Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hayward Jardine Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL


30 July 2024